N1 Holdings Limited (ASX:N1H or the “Company”) is pleased to announce that it has made a strategic investment in Stropro Technologies. Stropro Technologies is a fintech start-up founded in 2017. Stropro is building a platform to enhance the customer experience in the purchase of structured investment products. The investment has been structured as a SAFE (Simple Agreement for Future Equity) pursuant to which the Company has agreed to make a cash payment to Stropro Technologies in exchange for a contractual right to convert that investment into shares at a later date.
In addition, the Company is pleased to announce that N1 Loans has entered into a joint venture with Smartkey Property to form loan 77. Smartkey Property offers a full service settlement solution to both large and small residential developers and agencies across Australia, New Zealand, Asia, the United Kingdom and the United States. To date, Smartkey Property has settled over 6,000 properties internationally with a total aggregate value of over A$4.5 billion. N1 Loans is the Company’s loan business (comprising mortgage brokering, business lending, commercial property financing and asset finance).
The joint venture company, loan 77, will refer mortgage brokering opportunities to N1 Loans from Smartkey Property’s current pipeline of over 2,000 property settlements.