Antony Catalano calls it "the digital real estate superstore of the future".
Subscribe now for unlimited access.
or signup to continue reading
"[It's] where you can carry out all of your property related transactions seamlessly on one site," the executive chairman of View Media Group (VMG) explains.
"You'll be able to buy, sell or rent, but in addition you will be able to get a mortgage, insure the home and contents, connect and disconnect utilities and book trade services.
"Through realestateview.com.au we'll guide consumers through the whole property life cycle journey and connect with them at every touchpoint.
"The businesses we are bringing together at VMG will build the digital real estate superstore of the future."
Now, one of Australia's biggest banks, ANZ Group Holdings Ltd, has invested $50 million in the venture.
The digital property media and agent services business was established last year by Mr Catalano and business partner Alex Waislitz with the aim of securing a slice of Australia's $300 billion real estate transactions market.
VMG includes a 72 per cent stake in search portal realestateview.com.au, the property brand promoted by regional news publisher ACM's network of newspapers and websites across Australia.
Mr Catalano and Mr Waislitz are co-owners of ACM, the publisher of this newspaper.
ANZ's cash investment in VMG comes less than six months after Seven West Media tipped $100million in cash and media services into the group.
As part of the new deal, VMG and ANZ will work together to offer financial services for the mortgage market and other consumer finance products.
"This is a clear endorsement of the VMG business and the strategy we have set ourselves to disrupt the real estate transactional market," Mr Catalano said.
"To receive financial backing from one of Australia's largest companies speaks volumes for the work the team has done to build a major new player in the real estate media and technology sector."
Mr Catalano said ANZ had "demonstrated that it is a forward-thinking bank and has a clear plan to invest in emerging and disruptive businesses".
"I'm personally very excited to have their backing and can't wait to deliver on our plans, not only to generate shareholder value for them but operationally, a steady stream of financial services customers from across the VMG property ecosystem," he said.
READ MORE
Mr Waislitz, executive chairman of the Thorney Investment Group, said VMG welcomed ANZ as a significant shareholder.
"I am grateful for the confidence ANZ CEO Shayne Elliott and his team has shown in this new venture," he said.
"With ANZ's involvement adding to the already active participation of Seven West Media, we are now well on the way to creating Australia's most exciting real estate prop-tech business."
ANZ will take a board seat as part of the transaction.
Mr Catalano said the bank's $50million injection would help VMG scale up, develop products and pursue future growth opportunities.
The launch of VMG, announced in August 2022, made last year "a big year for us" but 2023 was "when we plan to make some serious moves".
"When you combine the investments from ANZ, Seven West Media and ACM, the acquisitions of The Today Business and AD Group, along with the existing assets including realestateview.com.au, we are pulling together all the elements we need to make a serious impact in the real estate and financial services categories," Mr Catalano said.
