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ANZ Group Holdings’ (ANZ) has become the second major investor in the organisation over the last six months.
Following recent backing by Seven West Media, ANZ becomes the latest major investor in View Media Group, with the bank’s $50 million investment ensuring its position as a minority shareholder in View Media Group (VMG).
In addition to the big four bank’s $50 million investment, both parties have “agreed to pursue the formation of a strategic alliance in financial services, including further investment from both parties to target the mortgage market and other consumer finance products,” according to a statement from VMG.
ANZ explained the venture “will help enable our existing strategy to establish a suite of services in the home owner space that make it easier to buy, own, or rent a property.”
Adding to the transaction, the financial institution gains a seat on VMG’s board.
Describing the latest investment as a “clear endorsement of the VMG business,” View Media Group executive chairman, Antony Catalano, expressed his excitement at the venture’s potential to “not only generate shareholder value for them but operationally, a steady stream of financial services customers from across the VMG property ecosystem.”
Alex Waislitz, executive chairman of Thorney Investment Group and regional publishing business ACM co-owner, voiced his gratitude towards ANZ chief executive officer Shayne Elliot and the ANZ team for the confidence they’ve shown in VMG.
“With ANZ’s involvement adding to the already active participation of Seven West Media, we are now well on the way to creating Australia’s most exciting real estate proptech business.”
Mr Catalano explained the group would invest the bank’s funding into scaling the business, as well as product development and future growth opportunities.
He described 2022 as a “big year” which involved establishing VMG and transacting several “exciting acquisitions,” such as The Today Business last October and AD Group a month later, both of which formed key components of the brand’s goal to position itself a “major player” in the Australian real estate media and tech scene.
The director revealed that “2023 is when we plan to make some serious moves.”
“When you combine the investments from ANZ, Seven West Media, and ACM, the acquisitions of The Today Business and AD Group, along with existing assets including realestateview.com.au, we are pulling together all the elements we need to make a serious impact in the real estate and financial services categories.”
He believes the businesses brought together by VMG will “build the digital real estate superstore of the future”, ultimately allowing all property-related transactions to be undertaken on one site.
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