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DomaCom’s investment platform has role to play as investors hunt for yield

DomaCom is an online investment platform that allows users to make fractional investments in a range of asset classes such as property.

DomaCom Ltd - DomaCom’s investment platform has role to play as investors hunt for yield
Asset classes feature property-related investments, mortgage backed securities and debt securities

DomaCom Ltd (ASX:DCL) provided a funds under management (FUM) update at its annual general meeting (AGM) yesterday.

The investment platform as of 8 November 2019 had $61.2 million in FUM.

DomaCom generates revenues based on the FUM so its growth and profitability are directly related to its ability to grow its FUM.

The company charges 0.88% per annum (p.a.) on property assets under management, 0.44% p.a. on mortgage assets and 0.22% p.a. on cash.

Funded for growth in a large addressable market

DomaCom has raised $8.75 million since December 2018, which it says will address its remaining growth hurdle being its balance sheet.

The company noted that only 10% of its clients are using the investment platform, which it expects to rapidly rise once the balance sheet has been addressed.

DomaCom is developing multiple channels to access its target market which is self-managed superannuation funds (SMFSs).

These channels include financial planners and large institutions such as tier one banks.

Proactive caught up with DomaCom in August 2019 for an overview of the investment platform.

Quick facts: DomaCom Ltd

Price: 0.073 AUD

ASX:DCL
Market: ASX
Market Cap: $14.76 m
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