Financial Review – Fuchs’ proptech play could unlock billions for commercial tenants

Australian property industry veteran, Cedric Fuchs, and Shaun Sergay have started eGuarantee, a proptech business that offers a digitised, non-collateralised alternative to bank guarantees for securing commercial leases. Unlike commercial lease bonds that are popular overseas, lease bonds have never taken off in Australia due to the lengthy terms of commercial leases and the perception that insurance bonds are not as good as bank guarantees. However, eGuarantee has a solution which can free up billions of dollars from banks and help businesses become more robust. The platform has been up and running since January, and the first lease bond was issued to a company in the Gateway Building at Circular Quay, saving them $500,000…

Read the full article here: https://www.afr.com/property/commercial/fuchs-proptech-play-could-unlock-billions-for-commercial-tenants-20210224-p575cs