Mercury Finance

What Mercury Finance does

Mercury Finance is a marine-finance division of Heartland Bank Limited, a New Zealand-registered bank headquartered at Level 3, 277 Broadway, Newmarket, Auckland. The company specialises in consumer lending for the purchase of new and used trailerable boat packages, outboard motors, and motor repowers, with a defined refinancing product for existing borrowers switching to Mercury motors. Its sole product line is fixed-rate marine loans with terms of up to 60 months, interest rates of 8.95% to 13.95% p.a. (priced by borrower risk profile), an establishment fee of $249, and a PPSR fee of $7.39. Repayment cadence options include weekly, fortnightly, or monthly.

Distribution runs exclusively through participating Mercury Marine retailers across New Zealand, supplemented by a digital pre-authorisation application portal hosted on Heartland Bank's platform and a phone-based application channel. Supporting tools include an online loan calculator, a contact form, a hardship variation service (term extensions or payment postponements for borrowers facing illness, injury, job loss, or relationship breakdown), and a complaints process escalated to the Banking Ombudsman Scheme. No proprietary technology stack is disclosed; the platform is operated within Heartland Bank's broader digital and banking infrastructure.

Revenue mechanics consist primarily of interest income on the marine loan book, supplemented by establishment fees and PPSR fees per loan. The customer base is composed entirely of individual New Zealand boaters — a single persona segment — with no disclosed enterprise or SMB lending products. The business is a vertically focused consumer finance product embedded in the Mercury Marine retail channel, with no disclosed plans for new geographies, verticals, or product lines beyond the existing refinancing extension.

Name

Mercury Finance

Legal name

Heartland Bank Limited

Website

https://mercuryfinance.co.nz

Company type

Private

Operating status

Operating

Short description

Mercury Finance is a marine-finance division of Heartland Bank Limited that offers fixed-rate consumer loans for boats, motors, and repowers to individual New Zealand boaters, distributed exclusively through Mercury Marine retailers.

Ownership category

akta.pro rank

Product category

Consumer Marine Lending

NAICS

Sales Financing (522220), Sales Financing (52222)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Marine & Boat Finance (FSAKADAH)

akta.pro secondary industries

Boat & Marine Leasing (FSAKANAH), Fleet & Commercial Vehicle Finance (FSAKADAE)

Keywords

• Marine finance
• Boat loans
• Consumer lending
• Marine dealer financing
• Boat loan refinancing

Headquarters

HQ city

Auckland

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Marine Loan Interest: Mercury Finance generates revenue primarily through interest charged on marine loans. Interest rates range from 8.95% p.a. to 13.95% p.a. depending on the borrower's financial circumstances.
2. Loan Fees: Additional revenue from establishment fees ($249) and PPSR fees ($7.39) charged on loan agreements.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

Mercury Finance provides fixed-rate consumer marine loans to New Zealand boaters for purchasing new and used trailerable boat packages, outboard motors, and motor repowers, with loan terms up to 60 months and weekly, fortnightly, or monthly repayment options. It also offers refinancing of existing boat loans when customers repower with a new Mercury motor, and supports borrowers with a hardship variation service for unforeseen financial difficulty.

Product overview

Mercury Finance is a marine finance division of Heartland Bank Limited, offering a single unified product line centered on marine/boat financing. The core product is Marine Finance Loans for purchasing boats, motors, and repowers, supplemented by a Boat Loan Refinancing service for existing customers repowering with Mercury motors. Supporting tools include an online Loan Calculator for repayment estimation and a Contact Form for customer inquiries. Customer service features include Hardship Variation services for borrowers facing financial difficulties. All products are backed by Mercury Marine and offered through participating Mercury retailers.

Differentiator

Problem solved

Functional benefit

Products and services

• Marine Finance Loans Fixed-rate consumer loans for purchasing new and used trailerable boat packages, outboard motors, and motor repowers. Interest rates range 8.95%–13.95% p.a., terms up to 60 months, with weekly, fortnightly, or monthly repayments. Targeted at New Zealand boaters purchasing through Mercury Marine retailers.
• Boat Loan Refinancing Refinancing of an existing boat loan when the customer repowers with a new Mercury motor, allowing restructure of the financing into Mercury Finance's fixed-rate terms. For existing borrowers repowering through Mercury Marine.
• Hardship Variation Service Customer support service that allows borrowers experiencing financial hardship to apply to vary their credit agreement, including extensions to the loan term or postponements of payments. For existing Mercury Finance borrowers.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Mercury MarinecoreChannel Partner/ Reseller/ DistributorMercury Marine backs Mercury Finance as the financing arm for the marine brand. Finance products are exclusively available through Mercury Marine's retail network, making this a foundational channel partnership.

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• Latitude Financial Services: Latitude Financial is a large Australasian consumer finance provider offering personal loans, credit cards, and asset finance including marine. It is a broad incumbent operating across the same Australasian consumer finance category.
• ANZ New Zealand (asset finance): ANZ NZ is a major incumbent lender offering boat and marine finance through its broader consumer and commercial lending portfolio. It is comparable as a broad incumbent with overlapping marine lending capability rather than a marine-specialist.
• Essex Credit (a brand of Truist): Essex Credit is a US marine financing provider offering boat loans and yacht financing through a dealer network. It is comparable as a marine-specialist captive-style lender but operates in a much larger US market.
• MarineMax Capital Services: MarineMax, through its capital services division, provides marine financing tied to one of the largest recreational boat dealer networks in the US. It is comparable as a captive marine finance business embedded in a major boat OEM/dealer channel.

Direct peers

• Finance Now: Finance Now is a New Zealand consumer finance provider offering personal, vehicle, and marine loans. It directly competes for NZ consumer boat finance demand through its own dealer and direct channels.
• UDC Finance: UDC Finance is a New Zealand asset finance provider, majority-owned by ANZ, that finances marine vessels, vehicles, and equipment to consumers and businesses. It is directly comparable as a NZ-based marine asset lender targeting consumers and dealers.
• GEM Finance (formerly GE Money NZ marine finance): GEM Finance offers consumer asset finance in New Zealand including marine and boat loans through dealer networks. It competes head-to-head with Mercury Finance for the same NZ boater borrower and dealership origination channels.
• Heartland Bank (consumer lending arm): Heartland Bank's wider consumer lending business (reverse mortgages, personal loans, livestock finance) shares the same parent platform, compliance infrastructure, and NZ consumer credit regulatory environment as Mercury Finance, making it the closest internal peer.

Emerging players

• Yanmar Financial Services: Yanmar Financial Services is the captive finance arm of Yanmar, offering marine engine and equipment financing through dealer channels in select markets. It is comparable as an OEM-embedded marine finance business analogous to Mercury Finance's Mercury Marine backing.

Regional players

• Boat Loans Australia: Boat Loans Australia is a marine-specialist broker and lender in Australia focused exclusively on consumer boat finance. It is comparable in product focus but operates in Australia rather than New Zealand.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

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 Mercury Finance