News and Announcements
Zagga originates close to $60M in its first year
- Published August 29, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- To date, Zagga has originated almost $60 million, well in excess of the $50M target we set ourselves when we launched on 27 June 2017.
- The company is also very pleased to share that, as at August, they have been able to generate an average return to our investors of 8.71% p.a, with an average loan term of 10.71 months, across the portfolio. Please refer to below for more on our achievements to date.
On 27 June, Zagga celebrated the company’s first birthday.
A year ago, the company set a funding target of $50 million for the first year. To date, this figure has been exceeded, having originated almost $60 million.
Below are some further results Zagga are pleased to share, as at August:
- across the portfolio, we see the following averages:
- loan size at $3.45M
- with an investor return of 8.71% p.a,
- and loan term of 10.71 months o at an LVR of 57.75%
- four loans repaid earlier than contracted, resulting in a higher than the contracted return of 12.04% p.a. for our investors. Three of these loans were secured by properties in Sydney metro
- the Zagga Alternative Growth Fund, launched in December 2017, reported an annual return of 7.68% p.a. for the financial year ended 30 June 2018 (covering a six-month period from January 2018).
Please note that past performance is not a reliable indicator of future performance and investments in the Fund are subject to investment risk and fees and costs. Returns are not guaranteed. Prospective investors should fully consider the Information Memorandum available from us before applying to invest.
Over the past year, Zagga has proven their ability to provide a fast, convenient and secured offering to both investors and borrowers. At Zagga we’re all about choice and flexibility with an intense focus on integrity, transparency, and use-ability.
About Zagga
Zagga is your secured alternative. We offer an alternative investment within a diversified investment portfolio, with the potential of attractive returns within manageable risk parameters.
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