DomaCom partners with big four bank

A big four bank will pilot fractional property investing with DomaCom.

The investment platform said it had partnered with an unnamed big four bank, who is set to launch a six-month pilot for fractional investment with the firm.

According to DomaCom the agreement is mutually exclusive and may lead to a commercial deployment down the track, should the bank's trial of DomaCom's fractional investing model prove successful.

DomaCom chief executive Arthur Naoumidis said the firm had been searching for a partner of this and scale for some time.

"DomaCom has always been an intermediated business and has been seeking a large B2C partner for some time and we are looking forward to progressing this pilot with the bank," Naoumidis said.

In December the firm announced it had raised about $3 million as it looked to convert its win in a Federal Court case which determined whether or not SMSFs could invest in its fund, even in the case where a related party was a tenant in the underlying property.

Read more: DomaComArthur NaoumidisFederal Court
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