Specialist Aussie Portal Downsizer.com Raises A$3.75 Million

Sydney-based startup Downsizer recently secured A$3.75 million in seed capital from Correlation Australia Holdings (CAH), along with existing shareholders such as family offices and high-net-worth individuals.

The total raised to date now stands at $6.1 million with the latest funds to be used to accelerate Downsizer's growth.

Founded in 2019 Downsizer is an online real estate marketplace business that offers digital solutions to the finance, property, and insurance sectors, aimed at helping people transition to a smaller home while improving their lifestyle and finances.

The company's SaaS platform operates at the intersection of fintech, proptech, and insurtech. Downsizer's Deposit Power Downsizer Bond, for example, enables homeowners to use their equity to back a deposit bond and secure a new property without a cash deposit. This simplifies the home transition process for older owner-occupiers who may not pass a traditional credit assessment.

“Our mission is to help downsizers achieve their desired home transition, so they can stop worrying and start living! We’re thrilled to welcome Correlation and Lombard as investors and business partners. Culturally and commercially it’s a great fit," said cofounder and MD Mark Macduffie.

Downsizer's technology is helping property developers, real estate agents, financial advisors, mortgage brokers, lenders, insurance brokers, and underwriters to engage with Baby Boomers and Gen Xers aged 50+ years.

The platform provides digital content and market insights and also has a national property marketplace where developers can list off-the-plan properties and access a real-time sales dashboard. Downsizer competes directly with the established marketplace Downsizing.com.au founded in 2003.