subscribe to our newsletter

LK Group acquires InfoChoice from iSelect

LK Group has been confirmed as the buyer of financial services comparison site InfoChoice.

LK Group, a Melbourne-based group of private companies established by the founder of Dodo and the owner of the National Basketball League, has recently purchased InfoChoice from iSelect.

According to a document sighted by Mortgage Business, the acquired financial services comparison site, which was established in 1993, will be rebranded and relaunched “in the coming months”.

iSelect disclosed to the Australian Securities Exchange (ASX) last month in its first-half financial results presentation that it had divested InfoChoice as part of its “renewed focus on core operations”.

“During FY18, a one-off non-cash impairment charge of $16.9 million was incurred against InfoChoice following a strategic review undertaken of that business unit. As a result of the review and strategy of focusing on core business and profitable growth, InfoChoice was sold,” iSelect’s ASX announcement states.


However, LK Group and InfoChoice were not able to reveal to Mortgage Business the exact value of the deal.

At present, InfoChoice compares more than 3,500 financial products – including home and personal loans – from more than 160 providers across Australia, with over 1 million visitors using the comparison site per year.

The internal document mentions “fresh initiatives” in the pipeline to expand InfoChoice’s customer engagement and partner base, including the launch of new digital tools and the establishment of new verticals.

Further details on strategy are to be provided at a later date.

Led by CEO Vadim Taube, InfoChoice is LK Group’s first financial services business.


[Related: Borrowers increasingly turning to online lenders]

LK Group acquires InfoChoice from iSelect
Handshake business deal

Are you a new-to-industry broker in the process of growing your business? Then there’s some great news: The Adviser’s New Broker Academy is back in 2021 and will provide you with essential insights into cutting-edge tools, strategies and processes to fast-track to success. Don’t miss your chance to attend. To secure your FREE place, visit newbroker.com.au now!

Tas Bindi

Tas Bindi is the features editor on the mortgage titles and writes about the mortgage industry, macroeconomics, fintech, financial regulation, and market trends.  

Prior to joining Momentum Media, Tas wrote for business and technology titles such as ZDNet, TechRepublic, Startup Daily, and Dynamic Business. 

You can email Tas on: This email address is being protected from spambots. You need JavaScript enabled to view it.



Latest News

True Savings, a new online brokerage headed by former CBA executive Pete Steel, has entered the Australian mortgage market. ...

Pre-registrations have opened for Citi’s upcoming buy now, pay later offering, Spot., which will launch in October. ...

New Zealand’s central bank is primed to further tighten mortgage lending standards, following concerns with a rise in high-LVR and high-DT...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.