# Sherlok Technology

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sherlok-technology-pty

- Industry: Software
- Headquarters: Adelaide, Australia
- Website: www.sherlok.com.au
- Total disclosed funding: $3.4M
- Latest round: Seed (Jun 28, 2023)
- Investors on record: 1

## About

Founded in 2017 and based in Adelaide, Australia, Sherlok Technology Pty Ltd. operates as a financial technology company that offers a retention and refinance online platform where users can automatically reprice and refinance mortgages and other loans. The company was founded by its CEO, Adam Grocke. In June 2023, Sherlok Technology Pty Ltd. raised USD 3.4 million in seed funding from Rampersand.

The company offers a comprehensive solution for brokers' needs by providing an automated repricing and refinancing technology that increases loan book growth while preventing clawback commissions. By integrating technology and data analytics, the firm streamlines the operation of repricing and refinancing, allowing brokers to optimize loan packages and deliver customised solutions to their clients. Sherlok monitors interest rates, identifies when homeowners can be eligible for a lower rate with their present lender, and automatically reprices the house loan on the brokers' behalf. The platform also analyses clients' interest rates with other lenders, identifies potential refinancing prospects from the broker's existing trail book, and provides the recommendations directly to the broker's inbox.

The startup generates revenue through its monthly subscription plans, which include the starter plan for USD 89 per broker, the premium plan for USD 179 per broker, and the ultimate plan for USD 224 per broker.

The organization plans to use the June 2023 funding to hire additional staff, particularly software developers.

## Funding rounds

- Seed, Jun 28, 2023, $3.4M — Rampersand

## Investors

- Rampersand (https://capitalatlas.ai/funds/rampersand) — Seed