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COPOSIT COMPLETES $14 MILLION CAPITAL RAISING

By Coposit
14/01/2025

Sydney, Australia – January, 15, 2025

Australian proptech platform Coposit is poised to accelerate its expansion plans in 2025 after completing a $14 million capital raising facilitated by corporate advisory firm Ad Astra. The initial investment round, which sought to raise $10 million, was oversubscribed after it secured the backing of an offshore investment firm, alongside local industry groups. Coposit’s innovative business model enables individuals to purchase property off-the-plan in Australia with as little as $10,000 and pay the rest of the required deposit while it’s being built. Coposit Chief Executive Officer and Co-Founder Chris Ferris said the successful capital raising was a significant milestone for the company and followed three years of bootstrapped growth which saw a milestone 100 projects onboarded along Australia’s eastern seaboard with an end value of $9 billion.

Chris Ferris and Daniel Ferris, founders of Coposit | An Australian proptech startup

“The past three years have been our proving grounds, and during that time our strategy was focused on organic growth and engagement with industry” Mr Ferris said. “The market’s rapid acceptance of Coposit has solidified our position as a key player in the Australian real estate sector, providing a simple and secure deposit model for buying off the plan that benefits buyers, developers and lenders. “With our first investment round oversubscribed by 40 per cent, we are in a strong financial position to accelerate our growth and expansion plans for 2025 and beyond. “This growth includes investing in existing and new tech products and B2C marketing to reach everyday Australians who are ultimately the beneficiaries of this solution, and empower them to achieve their property goals.” Mr Ferris said Coposit also remained in active discussions with additional strategic investors who were unable to participate in this round given the interest in the business. The successful capital raise caps off a significant period of recognition for the proptech group. In May, the Commonwealth Bank announced it would accept pre-sales secured through Coposit in residential development projects funded by the bank, alongside other Big Four banks and non-bank lenders accepting Coposit pre-sales.

Coposit; Secure your property with $10K

Last month, the Gold Coast’s largest active masterplanned community, Harbour Shores by Lewis Land, became the latest major project to throw its support behind Coposit, bringing the total value of projects aligned with the company to more than $9 billion. Mr Ferris said the partnership with Harbour Shores represented the platform’s largest project on the Gold Coast, with more set to follow. “Developers benefit from Coposit by securing the pre-sales needed to get their projects underway sooner, which is critical in helping the industry increase supply. It’s a win-win solution,” he said. “We’re looking forward to announcing further strategic partnerships in the coming months.” Coposit enables qualified home buyers to purchase off-the-plan properties with an initial minimum deposit of $10,000 and pay off the balance of the required deposit during construction via weekly, interest-free payments. Settlement is finalised through traditional financing channels on completion. Home buyers are not charged any fees or commissions. Instead, developers pay a one-off fee on sales facilitated via Coposit.

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