Kogan.com to enter the home loan market with Kogan Money
Kogan Retail, Kogan Mobile, Kogan Internet, Kogan Insurance and soon – Kogan mortgages.
The ASX-listed e-commerce business, founded 12 years ago by Melbourne-based Ruslan Kogan (pictured, top), is teaming with Adelaide Bank and Pepper Financial Services Group to create Kogan Money – which will offer home loans.
Kogan.com plans to create competitively priced prime home loans via Adelaide Bank, as well as specialist and non-conforming loans – for credit impaired borrowers – with Pepper.
The retailer will announce interest rate details closer to the date Kogan Money is launched, expected to be sometime within this financial year.
The loans will be funded by lenders, but marketed and distributed by Kogan, which will earn fees from them.
“With well over a million active customers, Kogan.com is proud to be able to form partnerships like these that form a genuine win-win for both Adelaide Bank and Pepper, for Kogan shareholders, and most importantly, for Kogan customers,” David Shafer, executive director of Kogan.com, said.
The move opens the door for Kogan.com to embark on a broader range of financial products and services, longer term.
