Domacom (ASX:DCL) transformed by injection of fresh capital from Bricklet, a Lakeba Group Company

DomaCom Limited (ASX:DCL) (‘DomaCom’ or ‘Company’), has entered into definitive transaction documents with Bricklet Ltd (Bricklet) for a loan of $2.5 million (New Loan) and a reconfirmation of a $2.0m commitment to underwrite an Entitlement Offer (Underwriting Commitment). There will be a significant board reorganisation as part of a strategy to set up for future growth, including new board representatives being appointed.

Bricklet will seek to enable a bold shift for Domacom, from a property fractionalization platform to a comprehensive alternative asset investment hub.

The new capital enables the transformation of DCL to increase Funds Under Management (FUM), including the Homeowner Shared Equity Fund and with new funds from Central Real Capital. The recapitlisation of the business will enable a re-listing of Domacom on the ASX and removing restrictions from the trustee.

Photograph
Darren Younger CEO of Bricklet

Bricklet is a technology-driven proptech business dedicated to making property ownership more accessible and affordable for everyone. Bricklet revolutionises the homebuying process by facilitating shared home ownership, allowing buyers to secure a property with a minimal deposit through a shared equity model. By partnering with investors and lenders, Bricklet addresses the challenge of saving for a substantial initial deposit, enabling buyers to own the property while paying rent on the investor’s share.

Read full official ASX release here.

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About Lakeba

Lakeba builds businesses that are optimised for high returns from low investment, at low risk when compared with the start-up sector. It utilises proprietary artificial intelligence (AI), decades of business and technology experience, and scalable shared services, to support each phase of business building. So far it has ‘conceived, created and commercialised’ 15 ventures, of which three have already been spun-out.

The unique Lakeba AI ‘neural network’ ‘conceives’ opportunities by continually interrogating the internet to establish patterns which suggest a business ‘need’ that could be solved digitally. Its entrepreneurs then double check this analysis and determine the viability of the business idea and its commercial potential.

To ‘create’ a venture, Lakeba works with partners, industry, and the wider innovations ecosystem to create digital technologies that eliminate the frictions identified by the neural network. A team of technologists, designers, and entrepreneurs build out the value proposition and establish the business. Lakeba invests its time, capabilities, capital and resources to craft ideas into reality.

‘Commercialise’ is the final stage of the Lakeba process. Once the digital proof of concept delivers on its promise, it is enhanced with radical intelligence. Working with partners, investors and the customers, Lakeba’s team refines and optimises the operations and distribution to rapidly commercialise the venture. This ensures the business continuously delivers value to customers as it scales and diversifies across industries and the globe.

Lakeba Group was founded by Giuseppe Porcelli, Entrepreneur and Visionary of Future Technology.