Tic:Toc Home Loans
Type | Private |
---|---|
Industry | financial technology, financial services |
Founded | 2015..[1] |
Headquarters | Adelaide, South Australia, Australia |
Area served | Australia |
Key people | Anthony Baum (Organizational founder and CEO) |
Products | Mortgages |
Website | www.tictoc.com.au |
Tic:Toc, also known as Tic:Toc Home Loans, is an Australian FinTech company and non-bank home lender based in Adelaide, South Australia.[2] Founded in 2015, but launched to the public in July 2017, Tic:Toc offers automated digital home loans to consumers while selling their automation technology to other lending businesses.[3][4][5] Bendigo and Adelaide Bank are a major shareholder, owning a 27 percent stake in the business.
History[]
Tic:Toc was founded in 2015 by Anthony Baum, and secured seed funding in 2016 from Bendigo and Adelaide Bank, who also provide the funds for Tic:Toc’s home loans.[1][6] In March 2017, the company closed its Series A funding round, securing A$4.1 million in further funds from Bendigo and Adelaide Bank.[1]
The company officially launched its home loan offering in July 2017.[7] In December 2017, Tic:Toc announced an expansion of services to include Tasmania, officially expanding their serviceable area to cover all states of Australia.[8]
Tic:Toc closed a Series B funding round in July 2018, raising A$11.5 million.[9] The raise was led by La Trobe Financial and Genworth Financial’s Australian arm, Genworth Mortgage Insurance Australia.[9]
In November 2018, Tic:Toc announced it would offer their technology to Bendigo and Adelaide Bank as part of their first enterprise partnership.[10] In March 2019, Bendigo Bank launched Bendigo Express, a digital home loan white-labelled under the Bendigo Bank brand.[10]
On February 5 2020, Tic:Toc launched its first software offering, XAI Validate, which uses artificial intelligence and machine learning to automate the validation of customer data.[5][11]
In April 2021, Tic:Toc announced the launch of its second white-label partnership with Aussie Home Loans, branded as Aussie Online[5][12]
References[]
- ^ a b c Palmer-Derrien, Stephanie (1 August 2018). "Fintech startup Tic:Toc raises $11.5 million to take the hassle out of home loan approvals". Smart Company. Retrieved 12 May 2021.
- ^ Fedorowytsch, Tom (11 July 2017). "SA jobs: Tic Toc online home loans to add 200 new Adelaide workers". ABC News. Retrieved 12 May 2021.
- ^ Bennett, Tess (16 August 2017). "Tic:Toc Wants To Bust The Big Bank Myth About Online Home Loans". Which-50. Retrieved 12 May 2021.
- ^ Whitten, Richard (26 February 2019). "Bendigo speeds up home loans with help from Tic:Toc". Finder. Retrieved 12 May 2021.
- ^ a b c Eyers, James (22 April 2021). "Aussie takes on big four with digital mortgages". The Australian Financial Review. Retrieved 12 May 2021.
- ^ "Making home loans faster, smarter and simpler". Tic:Toc. Retrieved 12 May 2021.
- ^ Bolza, Miklos (11 July 2017). "Fintech launches with 22-minute home loan". Australian Broker. Retrieved 12 May 2021.
- ^ North, Martin (18 December 2017). "Tic:Toc expands to Tasmania, as NSW investors rush to purchase in Hobart". Digital Financial Analytics. Retrieved 12 May 2021.
- ^ a b Eyers, James (30 July 2018). "Digital home-loan play Tic:Toc raises funding from Genworth, La Trobe". Financial Review. Retrieved 12 May 2021.
- ^ a b "Bendigo Bank customers to benefit from instant home loan tic of approval". Bendigo Bank. 1 March 2019. Retrieved 12 May 2021.
- ^ Eyers, James (5 February 2020). "Tic:Toc launches 'responsible-lending-as-a-service'". Financial Review. Retrieved 12 May 2021.
- ^ "Aussie enters online lending market". Aussie. 22 April 2021. Retrieved 12 May 2021.
- Financial services companies established in 2015
- Mortgage industry of Australia
- Companies based in Adelaide
- Financial services companies of Australia