Auckland, NZ: Māori investment fund Te Puia Tāpapa and non-bank lender Avanti Finance are pleased to announce a $10 million
partnership following a recent capital raise by Avanti.
Avanti Finance has grown to be a leading New Zealand non-bank lender specialising in mortgages, auto and personal loans.
Its most recent product release is a near prime home loan, a non-bank alternative to mainstream mortgage finance.
Avanti Finance is also notable for being one of the first non-bank lenders to match the main banks in support of its
customers during the recent COVID-19 crisis.
Paul Majurey, Te Puia Tāpapa’s chair says, “Our ultimate goal for Te Puia Tāpapa is to provide long-term wealth to our
Te Puia Tāpapa whanau.”
“We believe our participation in the continued growth and success of Avanti Finance will help achieve that. Its 30-plus
years of profitable, sustainable and community-focused growth demonstrates an excellent long-term investment opportunity
for us.”
Te Puia Tāpapa is a direct investment fund made up of 26 iwi and Māori entities, established with the intent to protect,
grow and diversify its asset base with a long-term, 15-20 year view.
“We’re excited to welcome Te Puia Tāpapa as a shareholder and look forward to developing a strong and beneficial long
term relationship consistent with the fund’s values and purpose,” explains Mark Mountcastle, Avanti Finance CEO.
“Avanti is a New Zealand company so to be joined by Te Puia Tāpapa as representatives of indigenous New Zealand feels
like a perfect fit for us.
Te Puia Tāpapa has also invested in TR Group, the largest truck and trailer lease and rental provider in Aotearoa New
Zealand.