LoanGarage

LoanGarage operates as a financial technology platform, initially launched in Singapore and later expanding to Australia, focusing on the loan comparison and brokerage market. The original Singapore-based company, founded in 2012 by Aidil Zulkifli, Izati Ng, and Lek Sin Yan, created an online marketplace for personal loans. It functioned as a lead generation tool for banks and financial institutions while offering borrowers a simplified, comparative application process. The business model was based on charging lenders a commission for successful loan applications, with the service remaining free for consumers. In a significant early move, the company launched in Indonesia in May 2013 under the brand KreditAja.com, just two months after its Singapore debut. This expansion was supported by a strategic partnership with Indonesia's Ministry of Economic Coordination to help distribute a substantial microcredit fund, aiming to serve the 'unbanked' population. The initial venture raised a total of $290K in funding over two rounds before being acqui-hired by MoneySmart Group for an undisclosed amount.

The Loan Garage brand has since re-emerged in Australia with a different focus and leadership, including co-founders Louis Velasquez and Robbie Fidler. This iteration operates as a digital platform and SaaS provider for commercial and asset finance brokers. Its core offering is the GaragePro CRM, a white-label finance workflow platform designed to help mortgage brokers, motor dealers, and asset vendors expand their services into commercial and asset finance. The platform provides tools for loan matching, a marketplace of over 90 lenders, automated commission splits, and compliance management. Revenue is generated through a partnership model where brokers utilize the platform to manage their deals, and Loan Garage takes a share of the revenue on all settled deals. Recently, the Australian Loan Garage entered a strategic partnership with Compass Aggregation, which acquired a 15% equity stake in the company to provide its network of over 300 brokers with access to the GaragePro platform.

Keywords: loan comparison, personal loans, financial technology, lead generation, online lending, loan marketplace, asset finance, commercial finance, broker CRM, SaaS, white-label financial platform, microcredit, Indonesian finance market, Singapore fintech, Australian fintech, GaragePro, loan aggregation, broker tools, commission sharing, digital lending