Breaking Down Barriers: BNZ’s Innovative Solution for Tech Founders
Barriers to Home Ownership
- Traditional lending criteria often fails to recognize the financial dynamics of high-growth tech startups.
- Founders’ personal income is frequently affected by business losses, making them ineligible for home loans.
- Eight out of ten tech founders have reported being rejected by multiple banks due to this issue.
A Common Frustration in the Tech Community
“We kept hearing the same story from tech founders and entrepreneurs,” says Tim Wixon, Head of Technology Industries at BNZ. “They’d built promising companies, secured investment, and were earning good salaries, but couldn’t buy homes because traditional lending criteria didn’t recognise the way high-growth tech startups operate. It just didn’t make sense.”
A Founder’s Journey
Startup founder Emily Blythe’s experience illustrates this challenge. As CEO of Pyper Vision, an innovative aerospace startup developing AI-powered fog forecasting technology, Blythe has built a company with strong financial backing and major partnerships, including trials with Air New Zealand and British Airways CityFlyer.
- Despite Pyper Vision’s strong fundamentals – including Startmate accelerator backing, government support, and enterprise partnerships – Blythe was rejected by eight different banks over a three-month period.
- Blythe was frustrated by the lack of recognition of her business’s financial performance, and the way her personal circumstances were viewed by banks.
The Solution: Founder Housing
| Key Features: | Business Viability and Potential Recognition | Specialised Assessment Criteria |
| Evaluates business viability and potential rather than focusing solely on profit and loss statements. | Includes institutional investment as a positive indicator. | Tailored assessment criteria for tech companies. |
How It Works
Founder Housing is a new home loan solution designed specifically for tech entrepreneurs. It takes a different approach by evaluating the business’s financial position and the founder’s personal circumstances together.
“It’s about applying the right approach and metrics for this type of business model,” says Tim Wixon.
Success Stories
Startup founder Emily Blythe’s experience with Founder Housing proved different. She received approval for her home loan, and the bank evaluated both the company’s financial position and her personal circumstances together.
- BNZ’s approach proved logical and rational, rather than the standard black-and-white response of ‘you’re a founder, therefore we can’t approve this.’
- Blythe’s home loan approval provided crucial stability for her role leading an international business.
BNZ’s Commitment to the Tech Ecosystem
- BNZ has pioneered several innovative financing solutions for technology companies, including Revenue Based Financing for SaaS businesses and Contracted Receivables Financing.
- The bank has also introduced fast-approval unsecured business loans up to $50,000 with three-minute approval times.
“We’ve been working to rewrite the playbook for how banks can better support tech companies at every stage of their journey,” says Tim Wixon.
BNZ’s Founder Housing is the natural extension of this work, supporting the founders themselves, not just their businesses.
“We’re proud to be the first major bank to turn this approach into a formal proposition,” says Wixon.
By understanding the unique challenges these founders face, BNZ can help them build personal assets while they continue growing their businesses in New Zealand.
“By supporting the founders themselves, we can help attract and retain talent in Aotearoa,” says Wixon.
Emily Blythe’s Advice
“I’d strongly recommend working with BNZ’s team. The traditional banking approach to founders is just ridiculous,” says Blythe. “Having my own home gives me the freedom to travel for work, knowing I have a secure base to return to. It’s the first time I’ve felt properly grounded,” she says.