Institutional capital
Retail borrowers
2013
Marketplace model
Peer‑to‑peer lending
Launched in September 2014 with NZ$100 million of committed lending capital from Heartland Bank and US-based Blue Elephant Capital Management, Harmoney gained momentum when Trade Me acquired a 15% stake for NZ$7.7 million in January 2015.
Within its first year, thousands of borrowers and investors joined the platform, driving strong loan origination growth.
Startup Rollercoaster
The Spark
Neil Roberts, who had previously worked in consumer finance, founded Harmoney in late 2013 to create New Zealand’s first licensed peer-to-peer (P2P) lending platform. The Financial Markets Authority granted Harmoney the first P2P licence on 8 July 2014.
The Peak
Harmoney launched on 10 September 2014 with NZ$100 million of committed lending capital from institutions including Heartland Bank and Blue Elephant Capital Management. Thousands of borrowers and retail investors joined in its first year, driving rapid loan origination growth. In January 2015, Trade Me bought a 15% stake for NZ$7.7 million, boosting credibility and funding growth.
The Drop
Operating under a brand-new regulatory regime required Harmoney to build robust compliance systems and investor protections. Trust had to be earned from both borrowers and lenders, who were cautious about a new peer-to-peer model. Scaling the platform brought added pressure to prove loan performance and maintain credibility in a conservative financial services market.
The Reset
Harmoney invested in credit scoring and compliance, diversified borrower acquisition channels, and increased transparency around loan performance and pricing as it grew.
The Discipline
The company balanced growth with prudent lending, added wholesale and warehouse funding alongside institutional partners, and continued raising capital to support originations.
The Climb
Harmoney expanded into Australia and transitioned from retail P2P funding to a direct-lending/warehouse model (ceasing new retail P2P investments in 2020). It listed on the ASX (foreign exempt on NZX) in November 2020, providing a stable platform for further scale.
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