ChimpChange (ASX:CCA) Reports Record Quarter with Strong Customer Growth & Revenue up 36%

ChimpChange Limited (ASX:CCA) is Australia’s first digital banking platform, is pleased to present the company’s quarterly report on the businesses updated progress.

KEY TAKEAWAYS: 

• Strongest customer growth developed during the quarter of 30,811, with 48,990 new customers added during the quarter.
• 100,000th new customer since IPO acquired during July 2017.
• Record level of quarter-on-quarter (QoQ) growth across key metrics.
• June quarter revenue up 36% QoQ along with PCO up 336%.
• Annualised Transaction Volume of US$113 million up from US$56 million.
• Revenue run-rate exceeded A$1m during the quarter.
• Well-funded from recent capital raise.
• Successful launch of new Round-up savings account feature set to boost engagement and support accelerating customer acquisition.
• Internal processing capability nearing completion which is expected to deliver improved costs and faster to market innovation of future products.
• Positive start for July 2017, and strong quarter across all metrics is expected to continue.

Ash Shilkin, Founder and Managing Director of ChimpChange, said:

“Our mission in building the ChimpChange banking platform has been to provide an experience that drives value to customers and in doing so reap value for our shareholders.

“As we continue to build out a robust digital platform packed with innovative features our customers love, we are tremendously gratified that our investments are translating into increased customer acquisitions, increased adoption, and higher usage per active adopter.

“We believe that the number of people choosing to bank with ChimpChange and trust our platform with their daily banking needs validates our investment and value proposition to both our customers and stakeholders. The key for our Company now is to continue to scale.”

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