An investment group led by Neil Rose, of Tribar Capital, has taken ownership of Openn, as the PropTech positions itself for growth.
The group also includes experienced FinTech founders Mark Kalajzich and Martin Lam, formally of Lendi Group and Aussie Home Loans, which is expected to help position the platform with significant expertise in technology along with a capital injection.
“Openn’s dedication to empowering real estate agents aligns perfectly with our vision,” Mr Kalajzich said.
“Openn has always delivered and will continue to deliver outstanding outcomes for home buyers and sellers.
“We are equally excited about developing strong value for agents, solving pain points in property transactions is our number one priority.
“Having grown Lendi to become Australia’s number one online home loan platform, we’re eager to contribute our experience and support the outstanding Openn team to achieve similar success, particularly in the thriving markets of Australia, New Zealand and Asia.”
The new ownership structure allows Openn to operate as a private company, retaining its core team under the existing leadership of CEO Sean Adomeit.
Openn remains committed to its mission of equipping real estate agents with innovative tools that streamline workflow and enhance client outcomes, the company said.
“We’re thrilled to partner with Tribar Capital, Mark and Martin,” Mr Adomeit said.
“Their proven track record in building successful businesses, particularly in challenging the status quo, will be instrumental as we focus on propelling Openn’s growth in our core markets.”
Openn also thanked Peter Gibbons for the tremendous contribution he had made to the business over many years.
Moving forward the company remains dedicated to its core Australasian markets.
As part of the recapitalisation process, Openn has divested all North American operations to Final Offer LLC.
“We are incredibly grateful for the unwavering loyalty and support of our users,” Mr Adomeit said.
“Openn’s platform will continue to provide agents with the best possible tools to achieve outstanding results for their clients and we are excited about the additional features we will be launching over the coming months.”
