Valocity, the leading cloud-based mortgage lending and valuation platform, has announced receiving growth capital from the New Zealand-based Huljich family, which acquired a 25.7% stake in the company.
The Huljich family brings strong governance, growth and tech expertise to Valocity, through investments in a number of high-growth tech kiwi success stories.
The family's investments include Diligent Board Member Services Inc, where the family invested as the sole pre-IPO funder in 2007, as well as NZX and ASX-listed Pushpay Holdings Limited, where the family holds a 21.8% stake.
"We are delighted to welcome the Huljich family to our share register and Peter Huljich to our board. The funding secured will be utilised to accelerate our global growth strategy and for ongoing development to continue to innovate existing solutions to further enable our customers," said Valocity's CEO and Founder, Carmen Vicelich.
"Valocity is a next-generation smart platform for mortgage lending and real estate valuations. We are excited to bring our game-changing platform to aid digital transformation in the challenging Indian landscape. The housing finance sector is growing rapidly and will benefit immensely by embracing innovative technology solutions," said Sachin Sandhir, CEO, Valocity India.
"Valocity has grown its New Zealand market share substantially over the last four years, where we continue to see growth opportunities. Valocity has huge potential to leverage learnings from local success and apply them in Australia and India. At Valocity, we are investing heavily in our people, product and processes to support the level of growth that we anticipate," added Carmen.
Peter Huljich, Partner at the Huljich family's investment firm, Christopher and Banks, said, "We continue looking for enduring technologies with global reach and we see the need and opportunity for the mortgage lending and valuation market to grow on Valocity's platform. We've worked with several other leading companies in New Zealand to broaden their global reach and we know this experience will be valuable as Valocity continues to expand in Australia and India.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)