What Zagga does

Zagga is an Australian alternative investment manager and non-bank lender, founded in 2016 in Sydney, that operates an online marketplace connecting wholesale and sophisticated investors with creditworthy property borrowers. The company's core business is originating first-mortgage-secured commercial real estate loans and packaging them into multiple investment vehicles, including the flagship Zagga Feeder Fund (launched December 2018), the Zagga Wealth Fund (February 2021), the wholesale Zagga CRED Fund (September 2023) with a AUD $50,000 minimum, and a Singapore Variable Capital Company sub-fund (2025). As of August 2024, the platform reported over AUD $800M in funds under management, more than AUD $2B in cumulative loan originations across 350+ transactions, 1,000+ investor entities globally, and 100% of investor capital returned since inception with average returns of approximately 8% per annum.

The platform runs on proprietary technology that enables fractional investment risk diversification across individual loan portfolios, and has partnered with the University of Technology Sydney to build a machine learning algorithm that predicts investor behaviour to streamline loan-investor matching. Revenue is generated through three primary streams: interest spread retained on its loan portfolio (Zagga Market Pty Limited acts as servicer for credit provider Zagga Investments Pty Limited), recurring management fees on the various fund vehicles (the CRED Fund targets returns of 4% over the official cash rate), and arrangement fees on its corporate note program (a four-year senior secured note arranged by FIIG Securities, with over AUD $100M raised across December 2025 and March 2026). Distribution combines direct institutional sales to investors across eight countries (Australia, Japan, Singapore, China, Mauritius, Switzerland, USA, South Africa) with platform-based access via Praemium, Netwealth, HUB24 and BT Panorama. Borrower clients include property developers seeking flexible alternatives to bank financing for land banking, construction finance, residual stock, bridging loans, working capital and investment purposes. The company is founder-led by CEO and Co-Founder Alan Greenstein, holds an AFSL and ACL from ASIC, and became a signatory to the UN-backed Principles for Responsible Investment in October 2025.

Name

Zagga

Legal name

Zagga Investments Pty Limited

Website

https://zagga.com.au

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Zagga is an Australian alternative investment manager and non-bank lender operating a wholesale private credit marketplace, originating first-mortgage-secured commercial real estate loans and distributing them via multiple fund vehicles to high-net-worth investors and institutions across eight countries.

Ownership category

akta.pro rank

Product category

Alternative Real Estate Private Credit

NAICS

Real Estate Credit (522292), Mortgage and Nonmortgage Loan Brokers (52231), Credit Intermediation and Related Activities (522)

SIC

Mortgage Bankers & Loan Correspondents (6162), Loan Brokers (6163), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Real Estate Private Credit (CRE Debt) (FSANADAG)

akta.pro secondary industry

Direct Lending — Specialty Finance (Consumer/SME Lending Platforms) (FSAHAJAF)

Keywords

• Private credit lending
• Commercial real estate debt
• Alternative investment management
• Wholesale investor platform
• Non-bank mortgage lending

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loan Portfolio: Zagga generates revenue primarily through interest payments on its portfolio of mortgage-secured commercial real estate loans. Investors receive regular interest income while Zagga earns spreads and fees on originated loans.
2. Fund Management Fees: Management fees charged on funds under management including the Zagga Feeder Fund, Zagga Wealth Fund, and Zagga CRED Fund. Target return of 4% over official cash rate.
3. Servicing and Origination Fees: Zagga Market Pty Limited acts as the Servicer of loans acting on behalf of the credit provider, Zagga Investments Pty Limited. Revenue generated through loan origination and servicing activities.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels7 records

Core offering

Zagga operates an online alternative investment platform that connects wholesale/sophisticated investors with creditworthy property borrowers by originating 100% first-mortgage-secured commercial real estate loans. The company funds these loans through multiple fund vehicles (Zagga Feeder Fund, Zagga Wealth Fund, Zagga CRED Fund, and VCC sub-funds), a direct investment portal, and a senior secured corporate note program, earning interest income, fund management fees, and loan servicing/origination fees.

Product overview

Zagga operates as an alternative real estate investment manager offering a platform of investment products centered on commercial real estate debt (CRED). The core offering consists of multiple fund vehicles (Zagga Feeder Fund, Zagga CRED Fund, Zagga Wealth Fund, and VCC sub-funds) and a direct investment platform, all focused on providing mortgage-secured loans to creditworthy borrowers. The products are structured to deliver regular income with capital preservation, accessed through the Zagga Investor Portal and distributed via multiple investment platforms including Praemium, Netwealth, HUB24, and BT Panorama.

Differentiator

Problem solved

Functional benefit

Brands

• Zagga Investments Lending Trust (ZILT): Open-ended discretionary trust that is the primary investment vehicle, offering different investment options including the flagship Zagga Feeder Fund, Zagga Wealth Fund, and Zagga CRED Fund.
• Zagga Feeder Fund (ZFF)
• Zagga Wealth Fund (ZWF)
• Zagga CRED Fund (ZCF)
• Zagga Real Estate Credit Fund

Products and services

• Zagga Feeder Fund (ZFF) Flagship discretionary pooled fund providing investors with regular, defensive interest income through a curated portfolio of high-quality, mortgage-secured loans in the commercial real estate sector.
• Zagga CRED Fund (ZCF) Wholesale unitised fund providing access to commercial real estate debt investments with a minimum $50,000 investment, targeting 4% over official cash rate returns. Available via Praemium, Netwealth, HUB24, and BT Panorama.
• Zagga Wealth Fund (ZWF) Pooled fund offering investors defensive interest income with faster liquidity access (30 days' notice after minimum term), as a higher-yielding alternative to cash deposit accounts.
• Zagga Real Estate Income Fund (SGP VCC) Variable Capital Company (VCC) sub-fund providing another vehicle for accessing real estate credit investments.
• Zagga Real Estate Credit Fund (SGP VCC) Variable Capital Company (VCC) sub-fund launched in January 2025, expanding the fund structure offerings for investors.
• Direct Investment Platform Platform enabling investors to invest directly in individual mortgage-secured loan opportunities, offering 100% first mortgage security by Australian property with regular, predictable income.
• Zagga Investor Portal Online portal for investors to manage their investments, view opportunities, track returns, and access account information.
• Senior Secured Corporate Note Program Senior secured corporate note program arranged by FIIG Securities, with four-year notes targeting approximately 7.85% per annum yield (BBSW + 4.20%), with over $100 million total capital raised.

Quantifiable outcome

• Zero investor capital losses since inception in 2017
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability2 records

Feature1 record

Partnerships

13 partnerships are on record, tiered minor and core.

• Principles for Responsible Investment (PRI)minorOthers · 1 October 2025UN-backed international network of investors working together to put responsible investment into practice. Zagga became a signatory in October 2025.
• RNB Property GroupminorStrategic or Co-development Partner · 1 July 2024Zagga provided senior loan facility to boutique developer RNB Group for the Vue le Pont ultra-luxury residential development in Rose Bay, Sydney. Partnership with experienced developer for high-quality development project.
• ST Real Estate Management (formerly Fidinam Group)minorStrategic or Co-development PartnerZagga provided a $28 million loan to ST Real Estate Management to fund the upgrade and refurbishment of Invicta House, a heritage-listed office building in Melbourne CBD.
• PraemiumcoreChannel Partner/ Reseller/ DistributorInvestment platform distribution partner for the Zagga CRED Fund, enabling financial advisers to access Zagga's private debt offerings.
• NetwealthcoreChannel Partner/ Reseller/ DistributorWrap platform distribution partner for the Zagga CRED Fund since December 2023.
• HUB24coreChannel Partner/ Reseller/ DistributorPlatform distribution partner for the Zagga CRED Fund since April 2024.
• BT PanoramacoreChannel Partner/ Reseller/ DistributorPlatform distribution partner for the Zagga CRED Fund since August 2024.
• Australian Business Lending peak Body (ABLMC)minorOthersIndustry association member representing non-bank business lenders.
• Australian Institute of Credit Management (AICM)minorOthersProfessional association for credit management professionals.
• Property Council of AustraliaminorOthersLeading property industry association representing property developers, investors and owners.
• Australian Finance Conference (AFC)minorOthersIndustry body representing finance and credit professionals.
• Australian Financial Complaints Authority (AFCA)minorOthersExternal dispute resolution scheme for financial services complaints.
• Mortgage & Finance Association of Australia (MFAA)minorOthersIndustry association for mortgage and finance brokers.

Scale indicators9 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Qualitas Real Estate Income Fund (Qualitas): One of Australia's largest dedicated commercial real estate private credit managers, originating senior secured loans to property developers and investors across Australia. Highly comparable to Zagga in product (CRE debt), geography (Australia), and target investor base (wholesale/institutional).
• MaxCap Group: Australian commercial real estate debt fund manager providing senior and stretch-senior loans to developers. Highly comparable to Zagga in origination focus (Australian CRE, developer borrowers), institutional/wholesale investor base, and pooled fund vehicle structure.
• Bolster Finance: Australian non-bank lender focused on bridging, construction and development finance for property developers. Directly comparable to Zagga in borrower segment (creditworthy developers), loan products (short-term, secured CRE lending) and non-bank Australian CRE niche.
• Metrics Credit Partners: Australian private credit manager running flagship income funds focused on senior secured Australian loans, including commercial real estate. Comparable to Zagga in Australian-domiciled private credit fund offerings, senior-secured lending approach and wholesale investor access via fund vehicles.

Broad incumbents

• La Trobe Financial: Large Australian non-bank lender and investment manager with pooled mortgage funds widely distributed on adviser platforms. Comparable to Zagga in offering mortgage-backed investment products to wholesale investors via wrap platforms, but operates at materially larger scale across residential and CRE.
• Pepper Money: Scaled Australian non-bank lender operating across residential, commercial and asset finance, distributing loan-backed investment products to retail and wholesale investors. Comparable to Zagga in offering credit intermediation products to Australian investors but with much broader product breadth and larger balance sheet.
• Resimac (Resimac Group): Australian non-bank residential and commercial mortgage lender and asset manager with securitisation programs and wholesale investor products. Comparable to Zagga in non-bank lending, wholesale investor product issuance and securitisation-type corporate note structures.
• Liberty Financial: Large diversified Australian non-bank lender with mortgage funds distributed via adviser platforms. Overlap with Zagga in the distribution of mortgage-backed investment products to Australian financial advisers and wholesale clients, though much broader in product set.

Emerging players

• Yieldstreet: US-based online alternative investment platform offering wholesale investors access to private credit, real estate and other private market products. Comparable to Zagga in using an online platform to democratise access to private debt for non-institutional investors, but with much broader asset class scope and larger scale.
• BrickX: Australian platform offering fractional investment in individual residential property assets to retail and wholesale investors. Comparable to Zagga in using a fractional/technology-enabled investment platform to give smaller investors access to property-related products, though focused on equity rather than debt.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ZaggaAU
• LinkedInlinkedin.com/company/zagga-group
• Instagraminstagram.com/zagga_au
• Xx.com/ZaggaAU

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

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 Zagga