Australian online home loan marketplace is looking for a potential buyer, laying off staff and restructuring its sales process.
The company says the initiatives are aimed at bolstering the company's financial health and repositioning the business in the current market.
Joust has been at the forefront of the Australian fintech landscape, empowering borrowers to secure the best home loan rates while providing mortgage brokers with tools to connect with high-quality prospects.
As part of the restructuring efforts, Joust is letting go of some key business development managers (BDMs) to create a leaner and more agile organisation that can better navigate the current difficult market conditions says Joust CEO, Carl Hammerschmidt.
"While these decisions are always difficult, we understand the importance of adapting to changing circumstances,” he says.
He emphasises that the company will continue to work with all existing supplier partners and will continue to deliver new features and services for the marketplace platform and Joust Connect products.
In addition to the restructuring, Joust is undertaking a sale process for the business and is currently in discussion with a range of potential investors and partners.
Hammerschmidt states: "We are actively exploring a sale process for the business to secure the next phase of Joust and continue our mission of helping Australians achieve their financial goals, and supporting the lending industry for growth."