Groups celebrate fast growth recognition

by Rebecca Pike03 Nov 2018

A broker group has been revealed among the 100 fastest growing companies of 2018, alongside a handful of lenders.

The Australian Financial Review’s Fast 100 list looks at companies established before 1 July 2014 which made $500,000 in the first reporting period and assesses the last four years of turnover data.

Aggregator Finsure listed in the 34th position, with an average growth rate of 71.6%, as it celebrated its third year on the list. The two years prior it was also included in the Fast Starters List.

Co-founder and managing director of Finsure, John Kolenda, said the latest Fast 100 recognition capped off a massive year for Finsure in which it formally merged with ASX-listed bank Goldfields Money Limited.

He said, “This has been a big year along with completing the merger with Goldfields Money and we are tremendously excited about the future.

“The combination of Goldfields Money and Finsure creates a market leading digital banking platform to disrupt the Australian banking sector and provide consumers with a fresh, new banking experience which offers a viable alternative to the major banks.

“The combined entity also provides enormous benefits to our broker network, and boosts their service proposition to enable them to offer customers better home loan products and rates.”

Prospa was in ninth place, with a three year average year-on-year growth of 116.1%.

Matt Bauld, general manager, sales & business development, said, “Prospa is thrilled to be recognised once again as one of Australia’s fastest growing companies. It’s been an extraordinary year for us so far, with loan originations reaching $750million and a $43million funding round with investors, including Australian Super.

“On top of that, we’ve grown our team to more than 200 people and expanded into New Zealand, delivering $1 million in loans in the first month. The end of the year is one of the busiest times for Prospa and our partners, so it will be full steam ahead into 2019.”

GetCapital came 17th with an average year-on-year growth of 96.7%.

Frank Sterle, chief operating officer at GetCapital, said, “It’s fantastic to get recognised with awards such as this. It’s really testament to our staff.

“We’re obviously amongst the other companies on the list who are exceptional and it’s fantastic to be associated with them. To be honest, at management level a lot of our focus was around building a high quality business and not compromise on anything for the sake of growth, so this is something we can be really proud of.

“I think it’s going to exponentiate the growth that we’re seeing particularly from the broker channel which is a lot stronger than what we’re seeing from other parts of our business.”

Personal loan group MoneyMe came in 21st with an average growth of 91.6%.

Clayton Howes, CEO of MoneyMe said, "Reaching position 21 in the AFR Fast 100 is a great outcome. Our leading technology, the focus on customer experience, and the addition of new products have been key contributors of our growth.

“Our team is getting stronger and so is our AI based lending platform, allowing us to do what we do best – delivering fast access to finance up to $15,000. Anytime, anywhere.”

Lendi came in 51st with an average year-on-year growth of 56.1%.

David Hyman, MD and founder Lendi, “We are thrilled to have been recognised on the AFR Fast 100 list this year.

“It is a testament of the hard work and dedication of the whole of the Lendi team in helping Australians find a better outcome on their home loans, one of their biggest and most stressful household expenses.”