Property Exchange Australia (PEXA), Australia’s digital settlement platform, was named the Technology Growth Company of the Year at the 2018 Australian Growth Company Awards (AGCAs) at a ceremony in Sydney last night.
First held in 2012, the AGCAs celebrate organisations that showcase high rates of growth, innovation, integrity, contribution to community and sustainability.
PEXA’s technology enables Australia’s lawyers, conveyancers, banks and land registries to complete property transactions electronically. All parties work together in an online hub, helping avoid potential errors and delays associated with traditional, paper transactions. This allows homebuyers and sellers to benefit from settlement certainty and quicker access to cleared funds.
The exponential growth in electronic transactions through PEXA was acknowledged, with PEXA recording a massive 686% increase in online property transfers across FY17/18. PEXA was also recognised for its role in working to improve the availability of sustainable and affordable housing, through its partnership with The Big Issue’s ‘Homes for Homes’ project.
The initiative allows home owners to donate 0.1% of the sale of their property, e.g. $500 donation on a $500,000 sale, which PEXA facilitates through integration of technology to enable contributions to be processed through its platform.
The honour caps a successful period of progress for PEXA, with the e-Conveyancing network having grown to over 7,500 legal and conveyancing firms and financial institutions as the digitisation of property accelerates.
David Hentschke, Group Executive, Corporate Development at PEXA accepted the award and said it was pleasing to be recognised alongside fellow Australian business success stories.
“PEXA is delighted to have been named as the Technology Growth Company of the Year at this year’s Australian Growth Company Awards. We’d also like to congratulate all winners and finalists for their outstanding efforts. This achievement is testament to the feedback and collaboration from our members within the e-Conveyancing network, who have been hugely influential in the progression of our technology and the industry. At PEXA, we’re committed to developing our products to best serve the property network. PEXA has a great team doing great things and by working closely with our industry peers, we’re able to refine our technology to ensure the electronic settlement experience is intuitive and efficient for all. It’s been a significant year of progress in the property sector and we look forward to continuing to work with the extended e-Conveyancing network to deliver the positive outcomes for homebuyers and sellers,” Mr Hentschke said.