ANZ has introduced it is going to be investing in Australian property media and know-how firm View Media Group.
Beneath the settlement, the massive 4 financial institution will make investments $50 million for a minority shareholding within the firm. ANZ stated it could work with VMG to determine a proposed unique monetary companies partnership on key merchandise.
VMG has a portfolio of companies providing client and enterprise property and media associated options, together with a residential itemizing portal, real-estate advertising and marketing businesses and property-technology companies. These embrace realestateview, propic and beevo.
ANZ stated the partnership would assist obtain its current technique of building a collection of companies within the home-owner area that make it simpler to purchase, personal or lease a property.
“This consists of partnering with different service suppliers to that area like actual property brokers and utility operators,” ANZ stated.
As a part of the transaction, ANZ will acquire a seat on VMG’s board.
VMG’s proprietor and government chairman is former Area boss Antony Catalano (pictured above) and enterprise companion Alex Waislitz is the co-owner. Catalano can be the manager chairman of Australian Neighborhood Media (ACM), which operates greater than 160 regional publications throughout Australia.
The Australian Monetary Assessment reported that ANZ’s cope with VMG was aimed toward including extra mortgages to its roughly $700bn mortgage e book.
Seven West Media can be backing VMG, with the AFR reporting the media big invested about $100m within the firm final yr.
In info supplied to Australian Dealer, VMG stated the funding from ANZ, when mixed with the funding from Seve West Media and Catalano and Waislitz’s regional publishing enterprise ACM, supplies VMG with the viewers attain and
monetary sources to scale its operations and goal alternatives within the annual $300bn actual property transactions market in Australia.
Along with the $50m money funding, ANZ and VMG have agreed to pursue the formation of a strategic alliance in monetary companies, together with additional funding from each events to focus on the mortgage market and different client finance merchandise, VMG stated.
“It is a clear endorsement of the VMG enterprise and the technique we’ve got set ourselves to disrupt the true property transactional market,” Catalano stated. “To obtain monetary backing from one among Australia’s largest firms speaks volumes for the work the workforce has carried out to construct a significant new participant in the true property media and know-how sector.”
“ANZ has demonstrated that it’s a forward-thinking financial institution and has a transparent plan to spend money on rising and disruptive companies: I’m personally very excited to have their backing and may’t wait to ship on our plans, not solely to generate shareholder worth for them however operationally, a gradual stream of economic companies prospects from throughout the VMG property ecosystem.”