TransBridj is an online portal helping property owners and conveyancing attorneys quickly access funding for out-of-pocket costs that creep up on homeowners during the sale of a property.
According to Michael Lenz, the company’s founder and CEO, applying for bridging finance is a “lengthy, manual and rigid process”. By digitising it, TransBridj claims it has reduced the administrative burden that usually falls on homeowners and their attorneys, helping facilitate the conclusion of property transactions faster.
“At this stage of the transaction your bond cancellation figures have been granted, so you can’t access funds out of the bond,” Lenz said in an interview. “You would either have to fund these costs in cash or have some sort of facility. A traditional way of getting some sort of a facility takes time, whereas these costs need to be covered quickly because it delays, and in some cases derails, the transaction.”
According to Lenz, property transactions often require funding from alternative sources for costs such as levies, compliance certificates and municipal clearance certificates. On a R1-million property, these costs can climb to as much as R70 000 or more, said Lenz.
“Real estate agents don’t always divulge the costs that come up between registration and transfer. This can come as a big shock to sellers as the quantum can be substantial,” said Lenz.
For conveyancing attorneys, bridging finance applications are not core business, but are usually done by them to ensure accuracy and avoid further delays in the sale of a property. This ends up being an administrative cost for their business.
When an attorney is registered on TransBridj, they initiate an application by uploading a number of documents “they already have in their possession” to get the process going. The system uses push notifications to get the required approvals from the clients involved in the transaction.
Bridging finance
Like conveyancing attorneys, real estate agents only get paid once the sale of a property has been concluded. TransBridj also provides bridging finance up to 80% of the agent’s commission per transaction to “provide them with the cashflow they need to go for the next sale”, said Lenz.
Applications are usually approved and funded within 24 hours of all conditions being met. TransBridj is available via a web interface that Lenz said will probably remain the preferred access point for conveyancing attorneys, who generally have a heavy administrative burden and need to view multiple transactions at once.
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For estate agents and homeowners, mobile apps for the Android and iOS ecosystems have been developed and “will be published soon”.
TransBridj has a nationwide footprint. However, Lenz said most of its activity has come from Johannesburg and Pretoria simply because these cities have the highest concentration of conveyancing attorneys.
The start-up has been funded privately. Lenz said the business will begin looking for increased capital funding as it grows and enters new markets.
“We are building the platform so that once you get onboarded, it becomes your point of contact from when a transaction is landed through your offer to purchase through to once you have paid your real estate agent,” said Lenz. – © 2025 NewsCentral Media
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