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Little Group invests in NECDL

Little Group invests in NECDL

Little Group joins the Victorian, NSW, WA, and QLD Governments as well as Australia’s largest banks, Macquarie Capital and Link Group as key financial stakeholders in NECDL; a company formed in 2010 to deliver a national electronic exchange and settlement solution to the Australian property industry

National E-Conveyancing Development Limited (NECDL) is pleased to announce Little Group as a new shareholder in the company. This occurred in the course of the latest investment round which was again facilitated by Mark Dorney, Managing Director at Grant Samuel.

Little Group joins the Victorian, New South Wales, Western Australian and Queensland Governments as well as Australia’s largest banks, Macquarie Capital and Link Group as key financial stakeholders in NECDL; a company formed in 2010 to deliver a national electronic exchange and settlement solution to the Australian property industry.

Macquarie Capital, Landgate and Link Group also took the opportunity to participate in this latest funding round and have increased their investments in the company.

NECDL is developing PEXA (Property Exchange Australia) – a platform that removes the manual processes and paperwork associated with the exchange of property by allowing Land Registries, Financial Institutions and Practitioners to transact together, online. Paul Little, CEO of Little Group said “We’re very excited and delighted to be shareholders in NECDL and believe strongly in the value PEXA will provide to the industry”.

Little Group is a multi-faceted property group that focuses on delivering innovative and high quality residential and commercial property solutions around Melbourne. Their investment sees NECDL funded through to the completion of Release 2.

Alan Cameron, Chairman of NECDL, welcomed Little Group to the company: “My fellow directors and I are delighted to welcome Little Group to NECDL. Paul Little has a long and accomplished history both in and out of the property industry and we are privileged to have the support and investment of such an outstanding company,” Alan said. “I’d also like to thank Macquarie Capital, Landgate and Link Group for their ongoing support and contribution”.

This increase in shareholding comes at an exciting time for NECDL with the recent successful launch of PEXA Release with Land Victoria and the Commonwealth Bank of Australia.

“The launch is an incredibly important milestone for PEXA on its way to creating a truly national property exchange,” NECDL CEO Marcus Price said. “It’s the first in a sequence of installations planned for the next 12 months with our focus now on bringing the New South Wales, Queensland and Western Australian Land Registries and remaining major banks on board”.

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