Squirrel Group

What Squirrel Group does

Squirrel Group Limited is a New Zealand-based alternative finance platform founded in 2008 by John Bolton, operating two integrated business lines: an independent mortgage brokerage and a peer-to-peer (P2P) lending and investment platform. The mortgage brokerage connects retail and SME borrowers with over 20 lenders (ASB, ANZ, BNZ, Kiwibank, Westpac, TSB, SBS, Co-Operative Bank, AIA, plus non-bank lenders including First Mortgage Trust, Avanti Finance, Pepper Money, Liberty Finance, and Prospa) through a salaried adviser network that is paid the same regardless of lender choice. The investment platform offers three retail/wholesale products — the Squirrel On-Call Account (2.00% p.a. variable, funds held on trust with AA-rated NZ banks under DCS protection), Term Investments funding home loans (4.75% p.a.) or construction loans (5.25% p.a.), and the Monthly Income Fund (PIE, 6.21% p.a., managed by FundRock NZ Limited). The company also operates a property finance arm providing bespoke development and construction funding for property developers and builders.

Squirrel makes money through three primary revenue streams: (1) upfront and trail mortgage broker commissions from lenders and insurance providers on completed mortgage applications; (2) spreads and fees on P2P loans facilitated between wholesale/retail investors and property borrowers; and (3) management fees on the Monthly Income Fund (PIE) and savings account products. The business combines field sales (24+ licensed mortgage advisers, several recognized among NZ's best), digital self-service (online platform account.squirrel.co.nz, iOS and Android apps), and referral partnerships with real estate agents. As of mid-2026 the company manages over $650 million in funds, serves more than 13,000 customers, has paid over $84 million in interest to investors, and is recognized as one of NZ's largest mortgage brokerages and most trusted non-bank lenders.

The technology stack centers on a P2P lending marketplace platform, online account management portals, mobile applications, and mortgage/investment calculator tools. The company integrates with Akahu and Illion for bank statement collection, Centrix for credit reporting, and Au10tix for AML/KYC identity verification, and holds a Financial Advice Provider Licence (No. 136364). Operations are headquartered at 29 Sale Street, Auckland CBD, and remain concentrated entirely within the New Zealand market.

Name

Squirrel Group

Legal name

Squirrel Group Limited

Website

https://squirrel.co.nz

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

1–10 employees

Short description

Squirrel Group is a New Zealand alternative finance platform operating an independent mortgage brokerage across 20+ lenders alongside a peer-to-peer lending and investment platform (On-Call Account, Term Investments, Monthly Income Fund) serving Kiwi home buyers, property investors, developers, and retail savers.

Ownership category

akta.pro rank

Product category

Mortgage & Lending Services

NAICS

Mortgage and Nonmortgage Loan Brokers (522310)

SIC

Loan Brokers (6163), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Retail Residential Mortgage Brokers (Purchase & Refinance) (FSALABAA)

akta.pro secondary industries

Real Estate / Property-Backed Marketplace Lending (Non-mortgage) (FSAKAHAG), Mortgage & Loan Introducers (Residential & Commercial) (FSAEAMAA)

Keywords

• Mortgage brokerage services
• Peer-to-peer lending
• Property development finance
• Savings and investment
• Non-bank lending

Headquarters

HQ city

Auckland

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Mortgage Broker Commissions: Squirrel earns commissions from lenders when customers complete mortgage applications. At the adviser level, mortgage advisers are salaried and not biased toward any particular lender. At company level, Squirrel receives either upfront commissions, trail commissions, or a combination from lenders and insurance providers.
2. Peer-to-Peer Lending Interest Spread: Squirrel operates a P2P lending platform where wholesale investors earn returns by lending to property developers and builders. Squirrel earns a spread or fee for facilitating these loans.
3. Savings Account Management: Squirrel offers savings accounts and term investments, with funds managed to generate returns for investors and the company.
4. Monthly Income Fund: Managed fund product (PIE) with FundRock NZ Limited as manager and issuer, generating management fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Squirrel Group is an alternative finance platform combining an independent mortgage brokerage (Squirrel Mortgages Limited) that connects borrowers with more than 20 New Zealand lenders, a peer-to-peer investment platform offering a high-interest On-Call Account, term investments, and a managed Monthly Income Fund (Squirrel Money Limited), and a property finance arm providing bespoke development and construction funding for builders and property developers. Mortgage advisers are salaried and paid the same regardless of the lender chosen, supporting unbiased advice across first home buyer, refinancing, investment property, and business lending use cases.

Product overview

Squirrel Group operates a dual business model combining mortgage brokering services and a peer-to-peer lending/investment platform. The mortgage brokering arm connects borrowers with over 20 lenders including major banks (ASB, ANZ, BNZ, Kiwibank, Westpac, TSB, SBS, Co-Operative Bank, AIA) and alternative lenders. The investment platform comprises three main products: the Squirrel On-Call Account (2.00% p.a. high-interest savings), Squirrel Term Investments (4.75-5.25% p.a. P2P lending), and the Squirrel Monthly Income Fund (6.21% p.a. managed PIE fund). Property finance services provide custom development and construction funding. All products are targeted at New Zealand consumers and property investors, with the company operating as a licensed Financial Advice Provider under FMA regulations.

Differentiator

Problem solved

Functional benefit

Brands

• Squirrel On-Call Account: High-interest on-call savings account offering 2.00% p.a. variable rate with unlimited withdrawals and funds held on trust with AA-rated NZ banks.
• Term Investments
• Monthly Income Fund
• The Squirrel Effect

Products and services

• Mortgage Brokering Services Independent mortgage advisory and broking service connecting New Zealand borrowers (first home buyers, refinancers, investors, business owners, and new-build buyers) with more than 20 lenders including ASB, ANZ, BNZ, Kiwibank, Westpac, TSB, SBS, Co-Operative Bank, AIA, First Mortgage Trust, Avanti, Pepper Money, Liberty Finance, and Prospa. Mortgage advisers are salaried and paid the same regardless of lender choice, ensuring unbiased advice across first home, refinance, moving house, investment property, new build, and business owner lending scenarios. Operated by Squirrel Mortgages Limited (FAP Licence No. 136364).
• Squirrel On-Call Account High-interest on-call savings account paying 2.00% p.a. variable rate with unlimited withdrawals and no minimum deposit, transaction, or account fees. Funds are held on bare trust with AA-rated NZ banks (BNZ and Westpac), qualifying for Depositor Compensation Scheme protection up to $100,000 per customer per bank. Targeted at individual savers seeking higher returns than traditional bank savings with daily liquidity.
• Squirrel Term Investments Peer-to-peer investment products that allow investors to directly fund Squirrel's home loans (4.75% p.a. average return, terms up to 7 years, average withdrawal time 3.7 days) and construction loans (5.25% p.a. average return, terms up to 2 years, average withdrawal time 31 hours). Minimum investment $100, with terms ranging from 30 days up to 7 years depending on the underlying loan type.
• Squirrel Monthly Income Fund Managed Portfolio Investment Entity (PIE) fund targeting 6.21% p.a. (1-year fund return after fees, before tax, as at 31/05/26) with a rolling 30-day term and average withdrawal time under 30 days. Fund is managed and issued by FundRock NZ Limited, with minimum investment starting from $100. Designed for investors seeking managed fund returns with monthly liquidity.
• Property Finance (Development and Construction Funding) Bespoke end-to-end funding for property developers and builders, covering property development loans, subdividing land financing, and construction loans. Tailored to manage risk across the project lifecycle and maximize returns on property projects. Funded in part through wholesale investor funds channelled via Term Investments on the P2P platform, and via Squirrel's own lending capacity. Targets NZ property developers and builders who do not fit standard bank lending criteria.
• Wholesale Investing Investment pathway for wholesale investors meeting specific investor criteria, offering access to larger investment amounts and exposure to Squirrel's P2P loan book (including construction and home loan term investments). Provides bespoke solutions tailored to wholesale investor needs, with terms and returns aligned to the underlying loan exposures.
• Bridging Finance Short-term funding product for borrowers moving between properties. Bridges the gap between purchasing a new home and selling an existing one, providing temporary finance until long-term lending arrangements are finalised. Distributed via Squirrel's mortgage advisers and accessible through the standard mortgage application flow.

Quantifiable outcome

• Over $84 million in interest paid out to investors
• +3 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

15 partnerships are on record, tiered core and minor.

• Westpac New Zealand LimitedcoreChannel Partner/ Reseller/ DistributorWestpac is one of the major banks Squirrel mortgage advisers work with to find the best mortgage solutions for customers. Advisers are paid the same regardless of which lender is chosen.
• ANZcoreChannel Partner/ Reseller/ DistributorANZ is one of the major banks Squirrel mortgage advisers work with to find the best mortgage solutions for customers.
• ASBcoreChannel Partner/ Reseller/ DistributorASB is one of the major banks Squirrel mortgage advisers work with to find the best mortgage solutions for customers.
• Bank of New Zealand (BNZ)coreChannel Partner/ Reseller/ DistributorBNZ is one of the major banks Squirrel mortgage advisers work with. BNZ and Westpac also hold Squirrel On-Call funds on bare trust.
• KiwiBankcoreChannel Partner/ Reseller/ DistributorKiwiBank is one of the banks Squirrel mortgage advisers work with to find the best mortgage solutions for customers.
• First Mortgage TrustcoreChannel Partner/ Reseller/ DistributorFirst Mortgage Trust is one of the non-bank lenders Squirrel works with for mortgage solutions.
• TSBcoreChannel Partner/ Reseller/ DistributorTSB is one of the banks Squirrel mortgage advisers work with to find the best mortgage solutions for customers.
• SBScoreChannel Partner/ Reseller/ DistributorSBS Bank is one of the lenders Squirrel mortgage advisers work with for customer mortgage solutions.
• The Co-Operative BankcoreChannel Partner/ Reseller/ DistributorThe Co-Operative Bank is one of the lenders Squirrel mortgage advisers work with for customer mortgage solutions.
• FundRock NZ LimitedcoreStrategic or Co-development PartnerFundRock NZ Limited is the manager and issuer of the Squirrel Monthly Income Fund, a key product in Squirrel's investment offerings.
• Cotality (formerly CoreLogic)minorStrategic or Co-development PartnerHousing market research provider; Squirrel's Chief Squirrel David Cunningham appears on Cotality podcasts and uses their data for market analysis.
• Avanti FinanceminorChannel Partner/ Reseller/ DistributorNon-bank lender Squirrel works with for customer mortgage and lending solutions.
• Pepper MoneyminorChannel Partner/ Reseller/ DistributorNon-bank lender Squirrel works with for customer mortgage solutions.
• Liberty FinanceminorChannel Partner/ Reseller/ DistributorNon-bank lender Squirrel works with for customer lending solutions.
• ProspaminorChannel Partner/ Reseller/ DistributorNon-bank lender Squirrel works with for customer business and commercial lending solutions.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Harmoney: Largest P2P consumer lending platform in New Zealand and Australia. Directly comparable to Squirrel Money's P2P lending infrastructure, marketplace model and wholesale/wholesale-investor angle.
• Zagga: NZ P2P platform focused on property development and construction loans funded by wholesale and retail investors. Overlaps directly with Squirrel's construction loan term investments and developer finance offering.
• NZ Home Loans: One of New Zealand's largest independent mortgage brokerages, with a similar adviser-driven model connecting borrowers to a panel of lenders. Closely comparable to Squirrel's mortgage brokerage arm in customer segment, lender panel breadth and revenue model (upfront/trail commissions).
• OMF (Online Mortgages): New Zealand online-first mortgage broker offering digital application and adviser support. Comparable to Squirrel Mortgages on multi-lender panel, residential focus and digital lead-conversion motion.
• Lending Crowd: NZ-licensed P2P lending and investment platform offering secured business and property loans to retail/wholesale investors. Closely matches Squirrel's P2P property lending and term-investment product set.
• Loan Market NZ: Franchise-style NZ mortgage broker network working across a wide lender panel. Comparable on broker commission economics and multi-lender distribution, though more fragmented than Squirrel's owned-adviser model.
• The Lending Room: NZ mortgage advisory firm offering personalised advice across multiple lenders for first home buyers, investors and refinancers. Comparable on adviser-led residential mortgage broking and customer segments.

Emerging players

• Kernel Wealth: NZ managed-fund and KiwiSaver platform offering retail investment products with a tech-led interface. Adjacent peer to Squirrel's Monthly Income Fund PIE and savings products, overlapping on NZ retail savings audience.
• Sharesies: NZ-founded retail investment platform offering savings, shares and funds to a broad Kiwi customer base. Comparable on the digital self-serve savings and investment distribution layer and on targeting younger NZ retail savers.
• Wedge: NZ fintech offering a high-interest on-call savings account and investment products competing head-on with Squirrel On-Call. Comparable product set, customer segment and digital onboarding experience.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCSSiu7iAhfURS64Wu0CsNzg
• Xx.com/squirrelfs

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors

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 Squirrel Group