Credi Q1 Update

Company Name: Credi

Announcement Date: 16/03/2018
Announcement Category: Other, Product launch/update, Team Update
Announcement Content:

Hi Friends, Supporters and Stakeholder
As we near the end of calendar Q1 - I thought it would be a good time to update on progress this year at Credi.

Credi Premium

This channel represents our user base of lenders and borrowers self-serving on the Credi Platform. Its strategic importance is that delivers a predominantly lender community, who are introducing us to their professional advisors - with whom we seek to engage with or commercialisation model - Credi Partner.

Over the coming months, we will be adding a services directory facilitating the interaction between Credi users and professional advisors
The Credi user base is now growing at the rate of 50 signed up accounts a day, and up to 15 loans - that's almost a 20,000 account sign up annual run rate. That rate will increase in April as we commence on TV and our social media campaign/referral campaign launch.
Credi is now being used in 20 countries - paving the way for partner programs in overseas markets

• 3100 users
• 20 Countries
• 300% growth rate in customer acquisition rate in Q1 2018

Credi Partner

We are onboarding 3 partners with a target aggregated customer usage of 800 accounts - which should deliver a baseline annual revenue of $ 144,000. We have another 10 partners under discussion and our revenue pipeline should grow materially from the Accounting Expo in Sydney 21-22 March - where 7000 visitors will be in attendance. We are targeting to recruit 50 new partners to our program from this event

The loan solutions on offer will be; Basic Loan, Secured Loan.

We are also working with advisors to develop an SMSF solution and a Guarantor Loan

• Revenue generation from Credi Partner commencing
• Volume partner acquisition underway in Australia
• Loan product range expanding

Team and Resource

As a growing company, we have to recruit, retain and in some instances part company with staff as we seek the talent and resource to deliver to our vision and potential. We have re-organised our management group with our COO leaving during March. Her role will be covered internally in the meantime whilst we review the role and its intended deliverables. Pat Green CTO will be personally supervising the Credi Partner launch and integration with strategic partners - project leading the client take on and transition management to the Credi Partner platform.

We have added to our technical team with a new Head of development ( ex NAB ) , and our Credi staffed technical group in Nepal is operational with an initial three recruits. Our intention is to grow this team to 20 over the next two years, We have also recruited a Head of digital to bring in-house our digital marketing execution.

• New Head of Development
• New Head of Digital
• New technical team established to speed development rollout to our global footprint

Strategic Partnerships

Education Alliance

Credi has entered into a binding MOU to deliver its Credi platform to approaching 10,000 Australian families each year as part of a financial education program with a leading Edtech company. This exciting opportunity will support young Australians knowledge and financial literacy - and engagement with her family members will position Credi as a solution to use in the wider context of family finance

As ever, happy to discuss and welcome inputs, feedback and of course any referrals and introductions ongoing as we continue to deliver Credi globally.

We want to talk to your accountant / book keeper / advisor .We will reward any introduction that leads to a successful signup and usage of Credi at a partner with a $150 bounty. Word of mouth referrals from happy users is a key component of our partner recruitment program.

Tim Dean

Announcement URL:
About Credi:

We want to save relationships from the strain of financial dealings by turning informal agreements into credible, manageable and formal ones. We believe that by taking the duty of reminders, calendaring and contracting on behalf of the lender and borrower we are removing the most fraught aspects of relationship loans.

Credi gives you the platform and the tools for loans between family and friends. Simply use the app to generate a legally binding document and add your e-signature. Once agreed, you can manage repayments to stay on top of your loan. A simple and easy way to loan money from your loved ones!

Go to Company Profile for: Credi

Announcement Contact: [email protected]