Harmoney
Harmoney is the largest online personal lending platform in Australia and New Zealand, offering AI-driven fixed-rate personal loans of NZ$2,000–NZ$100,000 to consumers via its proprietary Stellare risk engine, with an embedded Lending-as-a-Service API for partner platforms.
- Company typePublic
- Founded2014
- HeadquartersAuckland, New Zealand
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
What Harmoney does
Harmoney is the largest online personal lending platform in Australia and New Zealand, founded in 2012 and headquartered in Auckland, New Zealand. Listed on the ASX under ticker HMY, the company originates fixed-rate, unsecured personal loans ranging from NZ$2,000 to NZ$100,000 with terms of 3, 5, or 7 years and personalized interest rates from 7.99% to 24.99% per annum, alongside secured car loan variants and use-case products for debt consolidation, home improvement, weddings, education, medical expenses, holidays, and business cashflow. More than 90,000 borrowers have used the platform.
Its core technology is the proprietary Stellare platform, an AI-driven risk assessment engine that integrates bank statement data (via Akahu and illion), credit bureau data (Equifax, Centrix), and identity verification (Frankie Financial, NZ DIA, Waka Kotahi) to underwrite borrowers in real time, assign internal credit grades A1–F5, and deliver personalized quotes within 90 seconds with funding typically inside five minutes. The platform also powers a Lending-as-a-Service (LaaS) embedded finance API that lets third-party platforms — auto marketplaces, home improvement sites, wedding planners, and financial comparison hubs — offer Harmoney-originated loans inside their own customer journeys.
Harmoney operates a 100% digital, direct-to-consumer go-to-market supplemented by embedded partner distribution. Revenue is generated primarily through interest income on originated loans, supplemented by a NZ$150 one-time establishment fee per contract and minor default and penalty fees (NZ$15 dishonour, NZ$20 overdue); LaaS partner revenue is an emerging additional stream. The company holds New Zealand Financial Service Provider registration (FSP593769), FSCL dispute resolution membership, and SOC 2 Type 2 certification, and is governed under ASX listing rules.
Harmoney firmographics
Firmographics- Name
- Harmoney
- Legal name
- Harmoney Services Limited
- Website
- https://harmoney.co.nz
- Company type
- Public
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Harmoney is the largest online personal lending platform in Australia and New Zealand, offering AI-driven fixed-rate personal loans of NZ$2,000–NZ$100,000 to consumers via its proprietary Stellare risk engine, with an embedded Lending-as-a-Service API for partner platforms.
- Ownership category
- akta.pro rank
Harmoney industry classification
Industry- Product category
- Consumer Lending
- NAICS
- Nondepository Credit Intermediation (5222), Credit Intermediation and Related Activities (522)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Prime Unsecured Personal Loans (Installment) (FSAKAAAA)
- akta.pro secondary industry
- Near-Prime Unsecured Personal Loans (Installment) (FSAKAAAB)
Keywords
Where Harmoney is headquartered
LocationHeadquarters
- HQ city
- Auckland
- HQ country
- New Zealand
- HQ region
- Oceania
Offices1 record
Markets served
Harmoney business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Interest Income: Primary revenue from interest charged on personal loans. Loans range from $2,000 to $100,000 with interest rates from 7.99% to 24.99% p.a. Rates are personalized based on individual credit assessment. Interest is charged monthly in arrears.
- Establishment Fee: One-time upfront fee of $150 charged for each approved loan contract. Covers arranging costs including processing, consideration, documenting the loan contract, and administration around advancing the loan. Added to the loan amount and repaid as part of regular payments.
- Default and Penalty Fees: Dishonour fee of $15 per dishonoured payment. Overdue fee of $20 at 6, 36, 66, 96 and 120 days if account remains in arrears. Collection and enforcement fees based on actual legal and third-party costs incurred.
- Lending-as-a-Service (LaaS) API Fees: Revenue from embedding Harmoney's lending capabilities into third-party platforms via API. Partner platforms integrate 'Weekly Repayments' functionality or offer loan options to their customers, with Harmoney handling the end-to-end lending lifecycle.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | Personal Loan - Variable rate tiers based on credit grade |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Harmoney product offering
Product offeringCore offering
Harmoney is a direct online lender offering unsecured personal loans ranging from $2,000 to $100,000 with fixed interest rates from 7.99% to 24.99% p.a. and 3, 5, or 7-year terms. Its proprietary Stellare platform delivers AI-driven credit assessment and personalized quotes in as little as 90 seconds, with funding typically in under 5 minutes. It also offers a Lending-as-a-Service (LaaS) API that embeds its loan origination and risk engine into third-party platforms such as auto marketplaces, home improvement platforms, and financial comparison sites.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Loans (Unsecured) Unsecured personal loans from $2,000 to $100,000 with fixed interest rates from 7.99% to 24.99% p.a. and 3, 5, or 7-year terms. Includes use-case variants for debt consolidation, home improvements, holidays, weddings, medical expenses, education, business cashflow, and general 'start almost anything' purposes. 100% online AI-driven application with funding in under 5 minutes and no early repayment fees.
- Secured Car Loans Vehicle financing with a discounted interest rate compared to Harmoney's unsecured personal loans. A security interest is granted over the purchased vehicle and a comprehensive insurance policy must be maintained throughout the loan term.
- Tiny Home Loans Specialized personal loan variant for the purchase of tiny homes and related expenses, available under the same Harmoney digital lending platform.
- Lending-as-a-Service (LaaS) / Embedded Finance REST API that lets third-party platforms (auto marketplaces and dealerships, home improvement platforms, wedding/event planners, financial literacy and comparison hubs) embed Harmoney's loan origination and Stellare risk engine inside their own customer journeys. Partners receive real-time qualified rate quotes in as little as 90 seconds while Harmoney handles the end-to-end lending lifecycle and absorbs credit risk.
Quantifiable outcome
- 90,000+ customers served
- +3 more outcomes
Companies that use Harmoney
Customer profileNamed customers5 records
Segments2 records
Ideal customer profiles2 records
Harmoney technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability6 records
Feature3 records
Harmoney partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and minor.
- Auto Marketplaces and DealershipscoreIntegration partnerships with auto marketplaces and dealerships. Embed 'Weekly Repayments' functionality on vehicle listings. API enables users to secure car finance at point of high purchase intent, reducing marketplace drop-off and increasing sales velocity for dealer networks.
- Builders and Home Improvement PlatformscorePartnership with home improvement platforms to embed personal loan options. Homeowners can fund renovations and pay deposits to NZ trades instantly, accelerating project start dates without waiting for slow bank equity releases.
- Wedding and Event PlannersminorIntegration with wedding/event planning platforms. Couples receive immediate access to funds for venue deposits and vendor bookings. Unsecured wedding loans offer frictionless 'buy now' experience for wedding industry.
- Financial Literacy and Comparison HubsminorPartnership with financial comparison platforms. Direct-lender API replaces 'estimated rates' with 'real quotes' showing actual qualified rates, driving higher satisfaction and conversion for partner sites.
- Credit Reporters (Equifax, Centrix)coreCredit information suppliers for borrower assessment. Centrix Group Limited, Centrix Data One Limited, and Equifax Pty Ltd provide credit data to confirm identity, verify credit obligations, and assess repayment ability.
- Identification Service ProviderscoreIdentity verification partners including Department of Internal Affairs (NZ), NZ Transport Agency Waka Kotahi, and Frankie Financial Pty Ltd for KYC compliance.
- Bank Statement Verification Providers (Akahu, illion)coreSecure access to borrower bank statements via Akahu Technologies Limited and illion Open Data Solutions Pty Ltd (bankstatements.com.au) for income analysis and financial assessment.
- Financial Services Complaints Limited (FSCL)coreExternal dispute resolution scheme approved by Ministry of Consumer Affairs. Available for complaints unresolved through internal process at no cost to customer.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
Harmoney competitors and assessment
Company assessmentEmerging players
- Upstart: US AI-driven consumer lending platform with a lending-as-a-service / partner-bank model. Comparable as a benchmark for AI underwriting, embedded lending via partners, and small-balance personal loan origination.
- LendingTree: US online loan marketplace connecting consumers with multiple lenders. Comparable in multi-lender comparison and embedded partner distribution, though operating in consumer education/marketplace rather than balance-sheet lending.
Regional players
- Prospa: Leading Australian online small-business lender. Comparable as an ASX-listed Australian digital lender pursuing embedded finance and platform partnerships, though focused on SME rather than consumer credit.
Direct peers
- SocietyOne: Australia/NZ personal loan lender that also originated as a peer-to-peer marketplace before transitioning to a balance-sheet model. Closest direct comparable to Harmoney in product (unsecured personal loans), geography (AU/NZ), and business model evolution.
- Plenti: Australian digital consumer lender (formerly RateSetter AU) offering automotive, renewable energy, and personal loans. Comparable as a fintech-led non-bank lender in ANZ with marketplace-to-balance-sheet origins similar to Harmoney.
- MoneyMe: Australian online personal loan and automotive finance lender using AI-driven underwriting. Direct competitor in AU digital personal loans with similar product positioning and target borrower.
- Now Finance: Australian online personal loan specialist offering unsecured loans with fast digital decisioning. Direct competitor in the AU online personal loan category with similar speed and accessibility positioning.
Broad incumbents
- Pepper Money: Established AU/NZ non-bank lender specializing in near-prime and non-conforming consumer and commercial credit. Direct competitor in the higher-rate segment of Harmoney's book.
- Liberty Financial: Australian non-bank lender offering personal loans, mortgages, and asset finance. Comparable non-bank consumer lender with AU/NZ presence and broader product suite.
- Latitude Financial: Large AU/NZ non-bank consumer lender offering personal loans, credit cards, and BNPL. Competes head-to-head in NZ/AU personal loans and is a much larger incumbent, providing a useful benchmark for scale and funding access.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Harmoney social profiles
Digital presenceHarmoney compliance and trust
Trust signalCompliance4 records
Harmoney financial estimates
Financial estimateRevenue estimate
Valuation estimate
Harmoney leadership team
Management profileNumber of profiles
Profiles12 records
Harmoney funding detail
Funding detailFunding overview
Funding rounds9 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Harmoney M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Harmoney
What does Harmoney do?
Harmoney is a direct online lender offering unsecured personal loans ranging from $2,000 to $100,000 with fixed interest rates from 7.99% to 24.99% p.a. and 3, 5, or 7-year terms. Its proprietary Stellare platform delivers AI-driven credit assessment and personalized quotes in as little as 90 seconds, with funding typically in under 5 minutes. It also offers a Lending-as-a-Service (LaaS) API that embeds its loan origination and risk engine into third-party platforms such as auto marketplaces, home improvement platforms, and financial comparison sites.
Is Harmoney a public or private company?
Harmoney is a public company. It is classified as public and is currently operating.
When was Harmoney founded?
Harmoney was founded in 2014. It employs 51 to 100 people.
Where is Harmoney based?
Harmoney is headquartered in Auckland, New Zealand, in the Oceania region.
How does Harmoney make money?
Four revenue lines are on record. Interest Income is the primary driver. The others are establishment Fee, default and Penalty Fees and lending-as-a-Service (LaaS) API Fees.
Who are Harmoney's main competitors?
Emerging players on record are Upstart and LendingTree. Prospa is listed as a regional player. Direct peers are SocietyOne, Plenti, MoneyMe and Now Finance. Broad incumbents are Pepper Money, Liberty Financial and Latitude Financial.
Does Harmoney have an API?
Yes. Harmoney offers a Lending-as-a-Service (LaaS) API for embedded finance partnerships. The API enables partner platforms to embed lending functionality including: (1) Auto marketplaces & dealerships can embed 'Weekly Repayments' on vehicle listings and allow users to secure car finance at point of intent; (2) Builder & home improvement platforms can offer embedded personal loan options at quote stage; (3) Wedding & event planners can provide immediate fund access for venue deposits; (4) Financial literacy & comparison hubs can display actual qualifying rates via direct-lender API. The Stellare® platform assesses risk in real-time providing personalized interest rate quotes in as little as 90 seconds. Partners pilot the programme via expression of interest to the partnerships team. Developer documentation is at www.harmoney.co.nz/embedded-finance.
What industry is Harmoney in?
Harmoney's product category is Consumer Lending. Its primary akta.pro industry code is FSAKAAAA, Prime Unsecured Personal Loans (Installment), with a secondary code of FSAKAAAB, Near-Prime Unsecured Personal Loans (Installment). Its NAICS code is 5222 and its SIC code is 6141.