Experienced Chief Technology Officer and successful start-up founder Brendan Leonard has joined FrontYa, Australia’s first-to-market private-sector deposit booster.
FrontYa, an AI-driven proptech which provides funds to qualified buyers in exchange for a share in a property’s future value increase, recently closed Australia’s largest pre-seed round.
Leonard brings much needed expertise to FrontYa
Leonard will lead an ambitious AI agenda in partnership with Chief Risk Officer Robbie Baskin, co-founder FrontYa, following 12 years with Australian data science and AI leader Quantium. FrontYa CEO Nir Golan said attracting Leonard to the business was a major coup for FrontYa.
“Brendan brings not only outstanding experience setting strategy and leading technology teams to deliver outstanding results, he is also an successful entrepreneur having co-founded and successfully exited his own start-up and supported other start-ups to scale.”
“At a time when competition for technology and data talent is fierce, Brendan’s established networks are invaluable as FrontYa looks to grow a first-class team,” said Mr Nir Golan.
Mr Leonard joins FrontYa after three years as CTO at SecureCo, an enterprise contact centre communication platform scale-up. He co-founded Capiotech a technology consulting enterprise which scaled to over 100 employees and worked with clients like CBA and Qantas.
Capiotech was sold in 2012 to ASG, a mid-sized ASX-listed IT services firm where Brendan remained after exit acquiring fiscal responsibility for more than $30m in annualised revenue.
“As soon as I heard about FrontYa, I was struck by the clear market need, the simplicity of the model and total alignment in interests between FrontYa and its clients,” Mr Leonard said.
“Those are top foundations for a successful business and, combined with the fact that data and technology are at the very core of the product, I couldn’t be more excited to join them.”
FrontYa’s impressive AI navigates market shifts
FrontYa deploys data and advanced AI algorithms to both pre-qualify its customers and then vet their property choices before purchase. Its investment strategy is based on analysis of over 2 million + property transactions spawning tens of millions of data points.
The technology assesses the potential of both the property and the risk profile of the customer, including projecting not just their current but their future loan serviceability.
Its patent-pending algorithms are structured to cushion the impact of a flat or declining market, enabling FrontYa to navigate market shifts and mitigate risk while its artificial Intelligence will exclude properties likely to under perform in the market.
