An Australian online home loan marketplace is seeking a potential buyer while implementing staff layoffs and restructuring its sales process.
The company announced that these initiatives aim to strengthen its financial health and reposition the business in the current market landscape. Joust has been a key player in the Australian fintech sector, enabling borrowers to find competitive home loan rates and providing mortgage brokers with effective tools to connect with quality leads.
As part of the restructuring efforts, Joust is parting ways with several key business development managers (BDMs) in an effort to create a more streamlined and agile organization capable of navigating challenging market conditions, according to Joust CEO Carl Hammerschmidt.
“While these decisions are always difficult, we recognize the importance of adapting to changing circumstances,” Hammerschmidt stated. He emphasized that the company will continue to collaborate with all existing supplier partners and will enhance its marketplace platform and Joust Connect products with new features and services.
In addition to restructuring, Joust is actively pursuing a sale process and is currently in discussions with various potential investors and partners. Hammerschmidt remarked, “We are exploring a sale process for the business to secure the next phase of Joust and continue our mission of helping Australians achieve their financial goals while supporting growth in the lending industry.”