is one of the largest online lenders in Australia. Founded in 2011, is a retail brand of non-bank lender Firstmac, and was one of the first providers that allowed Aussies to get a home loan online. In 2016, it expanded into car loans.

As of 2023, had a loan book of more than $6 billion.

Read more: Online home loans in Australia

How products are funded

Firstmac,’s parent company, does not have an Authorised Deposit-taking Institute (ADI) license, so doesn’t have customer deposits to fund loans. Instead, Firstmac issue Residential Mortgage Backed Securities (RMBS), which, as the name suggests, are financial assets backed by residential home loans.

Basically, Firstmac sell securities that are backed by its loan book to investors. These work similarly to bonds, in that Firstmac are effectively borrowing from investors, then repaying plus interest. Investors buy RMBS, then Firstmac and use this money to write home and car loans..

Since 2003, Firstmac has issued more than $32 billion in RMBS.

Smart Money and OnTrack

There are two applications customers at have access to.


The OnTrack app helps customers fast track loan applications. During the process, the following services are available through the app:

  • Booking an appointment with a lending specialist

  • Upload all documents

  • Track the application’s progress

Smart Money

Launched in 2018, the Smart Money app allows customers ongoing access to their account and loan. You can upload documents, check your outstanding loan balance and manage payments.

Frequently asked questions

Is it safe to borrow from

The operations of are covered by the National Consumer Credit Protection Act, which is enforced by ASIC. Firstmac is rated ‘Strong’ by international credit ratings agency Standard & Poors.

Are there still lending staff?

Although is an online lender, there are still lending specialists available to help customers with applications over the phone.