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Compass Aggregation has acquired a 15 per cent equity stake in Loan Garage to make use of its new GaragePro CRM platform.
After taking home the win as Innovator of the Year – CRM Platform at Broker Daily’s inaugural Broker Innovation Awards, Loan Garage is expanding its network through this latest strategic partnership.
The over 300 commercial brokers partnered with Compass Aggregation will now have access to the GaragePro CRM platform.
The equity stake will allow these brokers to digitally scale and unlock new revenue streams without additional admin, licensing, or staffing.
The SaaS CRM and finance workflow platform was designed specifically for brokers seeking a fully branded client experience.
Some of the features of GaragePro include:
- Loan matching assistant: Predictive scoring and pre-filled applications.
- Lender marketplace: Live quoting across more than 90 lenders.
- Referral tools: White label portals and automated commission splits.
- Compliance engine: AML/KYC automation, NCCP audit trails, and e-signatures.
- Marketing suite: CRM-integrated campaigns and social content tools.
The GaragePro platform is now used by over 219 active referral brokers. This is expected to climb. Loan Garage onboarded 184 referral partners in 2024.
Co-founder and CEO of Loan Garage, Louis Velasquez, said the early investment from Compass will help continue driving innovation and further collaboration with industry players.
The 15 per cent stake is mutually beneficial for the growth of each company. Loan Garage will get access to a wider network of brokers and Compass will gain long-term tech growth and a say in the expansion of GaragePro’s roadmap.
“This is the kind of partnership our industry has been waiting for – true collaboration, shared value, and relentless focus on our broker clients’ success,” said Robbie Fidler, co-founder and joint CTO of Loan Garage and Compass Aggregation.
Compass Finance Australia’s national sales manager, Alex Brydges, said this latest investment highlights the aggregator’s desire to back innovation with action “and our shared goal to reshape how brokers and referral partners operate, grow, and serve their clients while retaining clients in their own brands and eco-systems”.
Through the investment, Loan Garage is now working on GaragePro 2.0. Some of the features on the way include:
- Lender matrix-powered pricing engine.
- Open banking integration.
- Multi-entity structures.
- Home loan integrations with platforms like Stryd, NextGen, Quickli, and CashDeck.
- Updated partner portal and embedded finance widgets.
- A white labelled version of GaragePro built exclusively for Compass brokers.
