Invoice finance company Timelio has raised A$5 million of equity capital. Investors in the marketplace lender include Thorney Investment Group and former ANZ director John Dahlsen. Since it launched last year Timelio has traded more than $40 million of invoices.
Mortgage broker SMSF Loan Experts has launched a spin-off targeting self-employed people looking for a low-doc loan. A new website, www.lowdocloans.com.au, offers a specialist service. Low Doc Loans Experts chief executive Yannick Ieko says there is currently a revival in the low-doc market, which has been quiet since the financial crisis. According to the Australian Prudential regulation Authority, low-doc loans make up only 1.7 per cent of total mortgage balances.