October 27, 2020
Maori fund buys into non-bank lender
Māori investment fund Te Puia Tāpapa has made a $10 million investment in Avanti Finance as part of the non-bank lender’s capital raise.
Avanti specialises in mortgages, auto and personal loans, and recently launched a near-prime home loan.
Te Puia Tāpapa chair Paul Majurey says the company has more than 30 years of profitable, sustainable and community-focused growth which demonstrates the sort of long-term investment opportunity the fund of 26 iwi and Māori entities is looking for.
Te Puia Tāpapa’s first investment was in truck and trailer lease and rental provider TR Group.
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