Credi experiences 300% growth rate in customer acquisition

As we near the end of calendar Q1 – Credi has completed an update on their progress this year for all shareholders and stakeholders.

Credi Premium

This channel represents their 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 Credi to their professional advisors – with whom we seek to engage with or commercialisation model – Credi Partner.

Over the coming months, they 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 they 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

Highlights

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

Credi Partner

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

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

The company is also working with advisors to develop an SMSF solution and a Guarantor Loan.

Highlights

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

Team and Resource

As a growing company, Credi have to recruit, retain and in some instances part company with staff as the company seeks the talent and resource to deliver to their vision and potential. They have re-organised their management group with the COO leaving during March. Her role will be covered internally in the meantime whilst they 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.

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

Highlights

• New Head of Development
• New Head of Digital
• New technical team established to speed development rollout to their 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.