Aussie private credit deal for Finbase

It is Finbase’s first large-scale institutional funding pipeline and will be used for first ranking, low loan-to-value residential mortgages.

The arrangement will lift the non-bank lender’s total funds under management towards $500 million when fully used.

Finbase says securing a high-calibre institutional partner provides the financial backing necessary to scale operations and meet the rising demand from borrowers seeking flexible alternatives to mainstream banking products.

Sydney-headquartered Challenger is a major investment management and financial services company, and the partnership expands its private credit business focused on non-bank lending growth.