Axiom Properties Limited (ASX: $AXI) has announced the acquisition of all the issued capital in ListSure Pty Ltd, an innovative and regulated real estate funding solutions business. ListSure has developed a proprietary credit decision, loan origination, and loan management platform that offers unique, flexible products for real estate owners, investors, and agents.
Axiom Managing Director Ben Laurance stated, 'We see this ListSure acquisition, with its best-in-class, proprietary technology platform and credit-decisioning capability, as a key piece of Axiom's strategy to achieve significant cut-through into the real estate payments sector. Our goal is to provide a unique, embeddable payments and lending solution to our customers, with a quality, market-leading user experience. This acquisition is highly complementary with our AXIPay capability, which has given us a beachhead position in the rent roll payment sector.'
Axiom Properties Limited (ASX: $AXI) has acquired ListSure Pty Ltd, aiming to unlock new revenue streams and expand Proptech ecosystem partnerships. The acquisition cost $2 million and is expected to integrate ListSure's business into Axiom's current portfolio, capitalizing on the existing and growing traction in the real estate payment services sector. The forecast indicates ListSure to achieve circa $3m in FY 2025 revenue, with EBIT projected to grow annually, reaching over $8 million by year five. Key employees, including Founder and Managing Director Bradley Melman, have been retained to ensure smooth ongoing operations and effective management of risk and compliance obligations. Axiom's CEO of PropTech division, Rob Towey, will join the board of ListSure to provide expert support and governance oversight. The acquisition was funded using a combination of balance sheet capital and an unsecured loan facility provided by sophisticated and professional investors. Axiom notes that no security holder approvals were required, and it is not proposing any changes to the Axiom board or senior management as a consequence of the acquisition.