Built by operators

Larry Diamond co-founded Zip Co in 2013 and spent the next decade scaling it from his own savings into an ASX 200 company with 12 million customers and $10 billion in annual loan volume. Matt Leibowitz built Stake into Australia's third-largest online broker after a senior partnership at Optiver, and was Zip's first debt provider.

Between them, they have managed over $20 billion in equity and debt capital, sat on both sides of warehouse facilities, and lived through every cycle a non-bank lender can face.

What they kept seeing was the same thing: high-quality non-bank lenders with proven books, disciplined underwriting and real operating history that were too small for major bank warehouses but too sophisticated for generic credit. The capital available was either expensive, slow, or attached to construction risk most investors did not understand they were taking.

Eldium is the firm they built to fund that gap, and to give wholesale investors a clean, structured way to participate in the returns of senior secured lending against a diversified portfolio of assets.