Harmoney named top risk-based personal loan product in Australia


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Harmoney has been named Australia’s top risk-based personal loan at the 2019 Finder awards.

It is the first year a personal loans category has been included in the Finder product awards, which celebrate the best and most innovative businesses challenging the status quo on behalf of consumers. 

Harmoney incoming CEO David Stevens says the award is a great validation of Harmoney’s business model and the fast, accurate service it provides consumers in Australia’s highly competitive personal loans market.

Finder.com’s co-founder, Fred Schebesta says, “With its super low rates and no early repayment fees, Harmoney was the stand out winner for Finder’s risk-based personal loan category. Congratulations for a well-deserved win.”

Harmoney operates an online consumer lending platform on which its approved borrowers have their loans funded by third party, wholesale lenders. Some key milestones this year for the company include announcing a first profit of $7.2M for FY19, reaching the milestone of more than $100M of settled loans in Australia and initiating a warehouse funding facility. 

“The award is great recognition that we are trying to lead the way for the benefit of consumers. Our loan application process is fast and simple, but smart enough that we can offer borrowers competitive rates accurately matched to their individual circumstances,” Mr Stevens says.

“Our core focus is being able to offer loans that are not just competitive on interest rates, but affordable for those who take them out.”

Finder product award winners are decided on independent data-led methodology, rather than submissions from companies. Judges obtained four quotes based on different theoretical customer profiles from each of the three finalist companies in the award. The award results were based on the average comparison interest rate offered to those four different customer profiles.

About Harmoney

Harmoney is the leading online marketplace lender in Australasia. Harmoney Australia is ASIC licensed and regulated.  Harmoney was founded in New Zealand in 2014 and launched in Australia in in March 2017.

 In just four full years of operation, Harmoney has:

  • In FY15-19, generated 1586% income growth, 103% income CAGR and $94.8m cumulative income, 115 employees;
  • FY19 audited NPAT of $NZ 7.2M
  • Settled $400M in loan volumes in FY19 across Australia and New Zealand
  • Raised $32m in capital and invested substantially in its marketplace infrastructure;
  • Assessed more than $7.96b in loan applications;
  • Facilitated more than to $1.2 billion in loan volume ($100m in Australia) via 59,000 loans.


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