{"id":34760,"date":"2021-09-23T14:41:29","date_gmt":"2021-09-23T02:41:29","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=34760"},"modified":"2021-09-23T14:41:29","modified_gmt":"2021-09-23T02:41:29","slug":"big-4-bank-makes-move-into-property-management","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/big-4-bank-makes-move-into-property-management\/","title":{"rendered":"Big 4 bank makes move into property management"},"content":{"rendered":"

PHOTO: Angus Sullivan (left), Toby Norton-Smith, Mina Radhakrishnan and Ruwin Perera celebrating the new partnerships.<\/strong><\/p>\n

Australia\u2019s biggest bank is dipping its toe into property management, becoming a cornerstone investor in a $25 million capital raise by proptech platform :Different.<\/p>\n

The digital property management platform announced it had raised $25 million this week, attracting the backing of the Commonwealth Bank\u2019s start-up accelerating division x15ventures, as well as global venture capital heavyweight Antler, as it embarks on a major national expansion.<\/p>\n

Under the deal, CBA and :Different will also form a strategic partnership to offer property management services to the bank\u2019s 15 million customers.<\/p>\n

Founded in 2017 by former Silicon Valley executives Mina Radhakrishnan and Ruwin Perera, :Different aimed to disrupt the property management sector by digitising processes such as maintenance requests and invoicing.<\/p>\n

Ms Radhakrisnan said they started the company because they\u2019d heard too many stories of property owners and renters having a subpar experience with property managers.<\/p>\n

\u201cLittle communication and transparency into the important things that can make a real difference to the overall living and ownership experience,\u201d she said.<\/p>\n

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Real Estate News Update | Thursday 23 September, 2021<\/a><\/h2>\n<\/header>\n<\/div>\n

\u201cWe knew things had to change, and with people who care and powerful technology, we could create a better experience for our property owners, their properties and the people who live in them.\u201d<\/p>\n

:Different has doubled its team in the past 12 months and is available to property owners across Australia\u2019s eastern seaboard.<\/p>\n

Under the CBA partnership, :Different services will be made available to customers on the CommBank app, in an aim to support investors throughout the entire buying and\u00a0property ownership journey.<\/p>\n

CBA Group executive retail banking services, Angus Sullivan, said the partnership would differentiate the bank\u2019s offering for investors from its competitors’.<\/p>\n

\u201cMuch like our recently announced investments in Amber and Little Birdie, this is an example of us carefully selecting a high-profile, high-growth tech enabled business and exclusively introducing them to CBA customers to offer an enhanced level of service,\u201d Mr Sullivan said.<\/p>\n

\u201cWe see this partnership as an important part of our overall home buying strategy and one that will be core to the way we support our customers to manage their homes and grow their wealth.\u201d<\/p>\n

Co-founder Ruwen Perara said being able to tap into CBA\u2019s 15 million-strong customer base was a momentous opportunity for the company.<\/p>\n

\u201cFinance and homes are inextricably linked,\u201d Mr Perera said.<\/p>\n

\u201cWe are a trusted partner in the home and with CBA at our side, we will deliver value through reimagined products and services as the basis of a home platform, designed to service the needs of homes and the people who live in them.\u201d<\/p>\n

REPUBLISHED WITH PERMISSION | API MAGAZINE<\/a><\/p>\n

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