Joust befriends HouseandLand
Joust, a fintech burning cash, has found an ally in HouseandLand.com.au, a "proptech" start-up.HouseandLand will own 70 per cent of Joust, the latter's CEO Mark Bevan said.An equity raise via crowd funding platform OnMarket in mid 2018 - seeking A$2 million - bombed for the fintech.Joust is a platform aimed at bypassing the complexity of the home loan market by directly matching potential borrowers with mortgage providers, and has fulfilled around $1.2 billion in mortgages since its debut in 2016.HouseandLand are jostling for business for their own newish "house and land selection" platform. This pits them against Nine's Domain and Realestate.com.au.2018 ended up being "really just a year of consolidation," Bevan told Banking Day yesterday."We've been looking for capital to support our advertising. HouseandLand have committed to rapidly scaling Joust."