Fund manager Sapien Group has taken a controlling interest in online loan “marketplace” Hashching and has made a commitment to fund the company’s growth. Sapien Group announced yesterday that, as part of the deal, it has led a new capital raising round for the business. Hashching claims to service around 5000 brokers with document and customer relationship management services and to have originated A$62 billion of mortgages and personal and business loans since it launched in 2015. A point of difference is that it provides a star rating of its brokers. Borrowers visit the Hashching site and can choose the highest rated broker in their postcode area. In 2016, Sapien invested $1 million in Hashching – the first investment of its $50 million venture fund Sapien Ventures. It has topped up its investment in Hashching several times since then. Sapien and its affiliates have deployed over $8 million in equity capital to Hashching since 2016, as part of total equity raisings of $12 million by Hashching. Sapien now holds just over 50 per cent of Hashching, based on capital injected last month. It also holds stock options. Sapien Group managing director Victor Jiang said Sapien and its affiliates have committed $40 million in warehouse facilities for loan products to be distributed via the Hashching platform, with another $200 million earmarked for deployment over the next 12 months. Jiang said: “On the back of the Hashching team’s strong execution over the past two or three years, we see potential to enhance its value proposition. “With the tech sector reeling from a lack of funding, Hashching is well placed to increase market share and capitalise on consolidation opportunities over the next 12 to 24 months.”