Lannock, a market leader in strata lending, has had a stellar FY20 with annual loan book growth approaching 100%.
Portfolio company Superestate quadruples growth in 12 months
Aura Ventures’ portfolio company Superestate delivered strong growth across all of its operating metrics during the 4th quarter of FY20
The company achieved this against the follow-on effects of the COVID-19 pandemic (large portions of the workforce working from home) and the increased media attention around the superannuation industry positively impacting the top of the Company’s marketing funnel. Whilst this growth was a great result for Q4 FY20, there has been a slow down due to additional industry-wide regulatory complexities around changing super fund providers, which were introduced by the Government in May 2020. Superestate has incorporated the new requirements and is now ready to accept superannuation rollovers again.
All of Superestate’s investment options for its members ended the financial year in positive territory, which is a positive outcome given the volatility in public equity markets due to COVID-19. Internal analysis has Superestate’s investment options in the upper quartile of superannuation performance for the year.
Superestate finalised a fully subscribed funding round during the quarter from existing shareholders at a 109.0% premium to the Fund’s initial entry valuation. The Aura Venture Find invested its pro-rata in this round. The capital raised will be used to increase cash runway and will allow the business to complete the build of its Automated Valuation Model – Vali. Whilst Vali will initially be used internally to assist with investment decision-making, the Aura Venture team are working closely with management to explore the commercialisation of this product.
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