Sydney, Australia: Axiom Properties Limited (ASX:AXI) has acquired all of the issued capital in ListSure Pty Ltd, an innovative and regulated real estate funding solutions business. The acquisition cost is $2.0 million.

Axiom Managing Director Ben Laurance said, “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.”

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.

ListSure was established to provide property owners and investors with a unique and innovative financial solution to assist in the management, maintenance and other costs associated with the natural lifecycle of home ownership and sales transactions.

Since inception, ListSure has supported over 8,500 real estate transactions facilitating over $11.5 billion in underlying property sales; originated over $37.5 million in loans; secured an Australian Credit Licence to support operations; developed in-house a best-in-class proprietary engine that provides unique credit-decisioning and risk analysis processes.

The ListSure acquisition is expected to unlock a range of annuity revenue streams from Axiom’s existing suite of ventures, partners and clients including innovative embeddable lending solutions for owners and investors that are forecast to deliver substantial growth on the back of significant Proptech ecosystem partnerships launching in July 2024.

The business will be integrated into Axiom’s current portfolio to further capitalise on the existing and growing traction in the real estate payment services sector.

The business is forecast to achieve circa $3m in FY 2025 revenue; EBIT is projected to grow annually, reaching over $8 million by year five; and projected positive cash flow is anticipated from year two, growing to over $18 million by year five.

There is no guarantee that the projected revenue, EBIT and cash flow will be achieved, and will be subject to a range of factors influencing financial performance.

Rob Towey, CEO of Axiom’s PropTech division will also join the board of ListSure, providing expert support as well as governance oversight.

Both Rob and Brad will also be responsible for driving the revenue side of the business through agency channel distribution and other key relationships.

The acquisition was funded using a combination of balance sheet capital and an unsecured loan facility provided by sophisticated and professional investors.