Dashdot Pty Ltd Enters Voluntary Liquidation, Owing $10.6 Million to Customers
May 28, 2026 — Dashdot Pty Ltd, a property advisory firm, has entered voluntary liquidation, leaving an estimated 695 customers owed a combined total of $10.6 million in prepaid fees and refunds.
"Weak consumer confidence, federal property tax changes, tighter lending conditions, and increased advertising costs" — Company directors cited these factors as reasons for the collapse.
Company Operations
Launched in 2019 by co-founders Goose McGrath and Gabi McGrath (also known as Gabi Billing), Dashdot provided property investment advisory services. According to the co-founders, the firm assisted over 1,800 families in purchasing more than 2,800 properties, generating over $540 million in wealth. The company had built a significant social media presence.
Prior to the liquidation, Dashdot had explored options including equity raising, cost cutting, and mergers. More than 40 staff were made redundant.
Timeline of Events
According to communications obtained by ABC News:
- Early May 2026: A customer identified as Daniel signed an agreement with Dashdot but had not yet paid the $21,000 fee.
- May 22, 2026: Dashdot contacted a prospective customer, identified as Karl, to discuss property investment opportunities.
- May 25, 2026: Dashdot sent an email to Daniel, encouraging him to proceed with payment despite property tax concerns.
- May 28, 2026: Dashdot Pty Ltd entered voluntary liquidation.
Customer Impact
One customer, David Meehan, paid $23,100 in April 2026. Just seven weeks later, the company entered liquidation. Meehan described the loss as "equivalent to a year's worth of superannuation."
Financial Information
The liquidator reported:
Category Amount Total unsecured claims Approximately $14 million Total known liabilities Approximately $16.6 million Realizable assets Approximately $71,000 Customer-related liabilities $10.6 million owed to customersRelated-party loan: Dashdot Pty Ltd is owed over $3 million by Global Proptech Operations Pty Ltd. The directors stated this amount is unlikely to be recovered.
Legal Context
Under Australian law, directors are required to prevent a company from incurring debts while insolvent. Accepting payments from customers prior to liquidation is not automatically considered unlawful. The liquidators are investigating whether the company was insolvent at the time these payments were accepted and whether directors were aware of the company's financial status.
Director Statements
CEO Glenn McGrath stated that he and co-founder Gabi Billing are "genuinely sorry" for the situation. They rejected claims of misappropriation, stating they invested most of their personal wealth in the business.
Industry Perspectives
OpenCorp executive director Michael Beresford described the situation as "a business model warning" rather than a market failure. He noted that long-term property investment drivers—including immigration, housing undersupply, and rental demand—remain unchanged.
Real Estate Buyers Agents Association of Australia (REBAA) president Melinda Jennison stated that Dashdot's business model was not representative of the broader industry. She advised affected clients to review their agreements, particularly regarding upfront fees. Jennison noted that REBAA members have observed investors delaying or reconsidering purchases following federal budget announcements.
Property economist Cameron Kusher noted that Dashdot's fee structure could leave consumers financially exposed if a business fails.
Industry Insolvencies
According to data from the Australian Securities and Investments Commission (ASIC) , the Rental, Hiring and Real Estate Services sector has recorded 426 insolvencies this financial year. In May, this included:
- 9 in New South Wales
- 5 in Victoria
- 1 in Queensland