Avanti Finance Announces $10 Million Partnership With Te Puia Tāpapa

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.

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