What Sherlok does

Sherlok Technology Pty Ltd is an Australian SaaS fintech, founded in 2017 and headquartered in Unley, South Australia, that sells a subscription platform to mortgage brokers. The product combines two modules bundled into a single subscription: InstantAPPLY, which automates the broker's loan-application workflow by collecting fact-find data from the borrower's phone, pulling live bank statements via Australian open-banking rails (CBA, ANZ, ING), retrieving Experian credit reports (10 per month included), auto-categorising expenses, pre-populating Quickli loan scenarios, and pushing submission-ready files into AFG CRM; and RateTraker, which continuously monitors clients' rates and alerts brokers when refinancing becomes attractive. Pricing is not publicly disclosed, and new-customer onboarding is currently paused behind a waitlist while InstantAPPLY is rolled out to existing subscribers.

The platform's underlying technology stack is built around open-banking connectivity and workflow automation rather than proprietary AI models. Sherlok is registered as a Credit Representative (535299) of QED Credit Services under Australian Credit Licence 387856 and displays ISO certification for information security and privacy. Go-to-market is product-led: brokers self-serve through a web portal at portal.sherlok.com.au, distribute branded client links via email, text, or Calendly booking integrations, and rely on testimonial-driven peer referrals. The company has raised approximately A$4.95M across three rounds (2020, 2021, and a A$3.4M seed in July 2023 led by Rampersand with Investible, Paloma, and Common Sense Ventures), employs 1–10 people, and is led by founder Adam Grocke with Greg Lawrie as CTO. The total addressable reference cited by the company is a A$700B Australian mortgage loan book managed by brokers.

Name

Sherlok

Legal name

Sherlok Technology Pty Ltd

Website

https://sherlok.com.au

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

Sherlok is an Australian SaaS fintech that sells mortgage brokers a subscription platform combining InstantAPPLY (automated loan-application preparation via open banking) and RateTraker (rate-monitoring for client retention), targeting the A$700B Australian mortgage broker loan book.

Ownership category

akta.pro rank

Product category

Mortgage Broker SaaS / Loan Origination Software

NAICS

Mortgage and Nonmortgage Loan Brokers (522310)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Credit Data, Trimerge & Credit Analytics (FSALALAG)

akta.pro secondary industries

Mortgage Comparison, Marketplace & Rate-Shopping Platforms (FSALABAJ), Mortgage Secondary Data, Analytics & Pricing/Valuation Services (FSALAFAN)

Keywords

• Mortgage broker software
• Loan origination automation
• Open banking platform
• Refinance monitoring tools
• Fintech SaaS

Headquarters

HQ city

Adelaide

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Subscription Plan: Sherlok operates on a subscription model where both InstantAPPLY and RateTraker are included in every active Sherlok subscription. No add-ons or upgrades required. The subscription is offered as a software-as-a-service platform accessed via portal.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Sherlok sells a SaaS subscription to Australian mortgage brokers that bundles two products: InstantAPPLY, which automates the client fact-find, scenario comparisons, product selection, bank statement retrieval via open banking, expense categorisation, and Experian credit reports into a submission-ready mortgage application file; and RateTraker, which continuously monitors client loan rates and alerts brokers when refinancing is warranted to retain their book of business.

Product overview

Sherlok is a dual-product platform for Australian mortgage brokers. The offering consists of InstantAPPLY (automated application preparation) and RateTraker (client retention and rate monitoring), both included in every Sherlok subscription at no extra cost. The platform leverages AI and open banking to streamline broker workflows and reduce client churn.

Differentiator

Problem solved

Functional benefit

Brands

• InstantAPPLY: Automated mortgage application preparation tool that handles fact-find, scenario comparisons, product selection, bank statements, and credit reports for mortgage brokers.
• RateTraker

Products and services

• InstantAPPLY Automated mortgage application preparation tool for Australian mortgage brokers that handles the client fact-find, scenario comparisons, product selection, live bank statement retrieval via open banking, automatic expense categorisation, and Experian credit reports, producing a submission-ready application file for lodgement.
• RateTraker Client retention tool for mortgage brokers that continuously monitors client loan rates 24/7 and sends automated alerts when a client's rate becomes uncompetitive, enabling proactive refinancing outreach to retain the broker's existing loan book.

Quantifiable outcome

• Application preparation reduced from hours to 3 minutes
• +1 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability5 records

Feature6 records

Partnerships

Three partnerships are on record, tiered core.

• AFG (Australian Finance Group)coreTechnology or IntegrationAFG is an Australian mortgage aggregator. Sherlok has built an automatic push integration to AFG CRM, enabling seamless transfer of client application data from Sherlok's InstantAPPLY directly into brokers' AFG systems for lodgement.
• ExperiancoreTechnology or IntegrationExperian provides credit reporting services integrated into Sherlok's platform. The subscription includes 10 Experian credit reports per month, which are automatically pulled as part of the InstantAPPLY process.
• QED Credit Services Pty LtdcoreChannel Partner/ Reseller/ DistributorQED Credit Services is the licensed credit provider under whose Australian Credit Licence (387856) Sherlok operates as a Credit Representative (535299). Sherlok Technology Pty Ltd is authorised as a Representative of QED Credit Services under the National Consumer Credit Protection Act 2009.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Basiq: Australian open banking data aggregation platform providing live bank account data connectivity. Competes with Sherlok's bank statement retrieval capability at the infrastructure layer and could be both a partner and a competitor depending on go-to-market direction.
• Blend: US-based mortgage technology platform offering loan origination, underwriting, and closing workflows for lenders and brokers. International comparable for Sherlok's InstantAPPLY-equivalent functionality at significantly larger scale.
• Frollo: Australian open banking and consumer data platform offering bank account aggregation, expense categorisation, and affordability analytics. Overlaps directly with Sherlok's automated expense categorisation and bank data integration features.

Direct peers

• Quickli: Australian loan scenario comparison and product selection tool for mortgage brokers. Already integrated into Sherlok's InstantAPPLY workflow — most direct comparable given overlapping functionality in broker productivity software.
• HashChing: Australian mortgage broker marketplace and comparison platform connecting borrowers with brokers. Overlaps with Sherlok's broker productivity value proposition and competes for the same broker-customer relationship.
• Tic:Toc: Australian mortgage fintech using automated underwriting and decisioning. Overlaps with Sherlok's automation of the loan application process but operates with a direct-to-consumer model and lender-backed infrastructure.

Broad incumbents

• Lendi: Large Australian mortgage broker comparison platform (backed by NAB and Auswide Bank subsidiaries). Operates proprietary broker technology and could be both a competitor for broker mindshare and a potential enterprise channel for Sherlok.
• uno Home Loans: Australian digital mortgage broker using proprietary technology to streamline home loan applications. Competes for the same broker-and-borrower workflow that Sherlok automates, with a different ownership model (vertically integrated broker).
• Mortgage Choice (REA Group): Major Australian mortgage broker franchise owned by REA Group. Operates a large broker network and proprietary technology stack that competes with Sherlok for technology spend across the broker channel.
• Loan Market Group: Australia's largest mortgage broker aggregator network with thousands of brokers. Provides technology infrastructure to member brokers and is a natural enterprise sales channel or competitive threat for Sherlok.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/68597159

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds3 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sherlok