Sydney-based Mondus has secure pre-commitment for a $100 million wholesale debt facility to fund its 0% deposit shared equity mortgages as it continues celebrating a win at this month’s Proptech Awards.
The facility has come via partnership with digital lender WLTH and recent equity raise backed by Gold Coast-based VC firm Admiralty Capital Group.
“Australia is in the middle of a housing crisis, and amongst rising prices, the number one barrier for first home buyers is the deposit,” said Mondus co-founder and CEO Nir Davidson. “It now takes over a decade to save a 20% deposit. We built Mondus to change that.”
Mondus’s zero deposit loans will see home buyers put in 2.2% of the loan value to cover costs like stamp duty, legal fees, and settlement with Mondus loaning the full purchase cost.
It’s structured so the buyer refinances after five years at which point Mondus exits with 13% of the new valuation.
Co-founder Lucinda Hartley says the model targets salaried buyers who can service rent comfortably but are frozen out of ownership by not being able to catch growing deposit requirements.
“Mondus is making it possible for buyers with strong incomes – but no family support – to break into the housing market,” Hartley said.
Hartley previously cofounded Neighbourlytics, an urbantech firm that aimed to unpack how people use the built environment to help developers understand property data and make forecasts, which picked up a $1.3 million series A in 2022.
“And we don’t just fund the home – we help you choose the right one,” she said.
“Our AI tools forecast suburb-level capital growth using over 80 data points – from infrastructure investment to lifestyle amenities – so our customers can buy in areas with strong upside potential, not just what they can afford today.”
The deposit hurdle is real: CoreLogic data shows a median-income household now needs 11 years to scrape together a 20% deposit for an average home as property values continue to rise.
It’s an ongoing problem that the federal government and states have tried to solve by offering government-backed low deposit loans that avoid mortgage lenders insurance, and through shared equity or rent-to-buy schemes.
Finder’s recent First Home Buyers Report 2025 found 1 in 5 buyers were tapping the bank of mum and dad to get into the market – something not available to everyone.
Mondus’s unique approach to lending saw it pick up the Startup of the Year nod in the Buying and Owning category of this month’s Proptech Awards. It was also nominated for Most Innovative Fintech Product or Service in this year’s Finnies.
Daily startup news and insights, delivered to your inbox.