Pepper Money turned 25 in style.
The non-bank lender celebrated its quarter-life milestone – which officially occurred this past winter – with a red, pepper-themed celebration Wednesday night at Sydney's Machine Hall.
Pepper Money CEO Mario Rehayem (left) with Pepper Money Founder Mike Culhane
The who's who of the mortgage industry – roughly more than 150 movers and shakers from the broking and finance world – showed up, sporting pops of red to turn up the heat. The guest list included Mortgage and Finance Association of Australia's (MFAA) chief executive officer Anja Pannek, Finance Brokers Association of Australia's (FBAA) managing director Peter White, Loan Market chief executive officer David McQueen, and Simpology founder Kate Gubbins. Pepper Money founder Mike Culhane flew in from London.
Guests at Pepper Money's 25th anniversary party
Guests sipped spicy margaritas garnished with mini peppers and nibbled on Vietnamese bites, all while bartenders lit up the room with a fiery fire show under pulsing red strobe lights. And just when the energy couldn’t get any higher, a marching band burst in, cranking the party up another notch.
Guests at Pepper Money's 25th anniversary party, including MFAA CEO Anja Pannek (far left) and Pepper Money CEO Mario Rehayem (center)
"It's just surreal, right? What we've done in 25 years," said Mario Rehayem, chief executive officer of Pepper. "We've come a long way."
He added that the party "isn't just about marking time. It's about honoring the people, the partnerships and the purpose that have shaped Pepper Money into what it is today. It's always been about the Pepper culture, or the Pepper X-factor; how we do things differently. That's what makes us who we are. It's not what we do, but how we do it.
"I will be forever thankful for what [the Pepper team] has built over these 25 years and for the 25 years that are coming," Rehayem said Wednesday night during a toast. "Here's to the next 25 years, bigger, bolder, always delivering the X-factor."
Pepper Money CEO Mario Rehayem speaking to the crowd at the non-bank's 25th anniversary celebration
Pepper Money was founded in 2000. The firm went public in 2015, only to go private again after being acquired by KKR in 2017. The firm was eventually relisted on the ASX in 2021. Today, the company manages more than $20 billion in assets and has served roughly 570,000 customers. Rehayem said the firm's next goal is to surpass more than one million customers by 2029.
The Pepper Money team poses for photos during its 25th anniversary celebration
A marching band crashes Pepper's party
And while Rehayem acknowledged that there are some headwinds – including ongoing global uncertainty, regulatory changes and cost-of-living pressures – he remained confident of a solid market.
"We've gone through three years-plus of significant headwinds, both for non-banks and the entire sector, and now those headwinds have died down and have turned into tailwinds, which is why you're seeing a resurgence in volume across the whole the whole sector, but also a massive resurgence in the non bank sector," he told Australian Broker.
"Any diligent business owner always looks at the headwinds and they're aware of what-ifs, and if they happen, ask themselves, are we prepared for it?" Rehayem continued. "From where we sit today, it's about making sure that we understand the what-ifs, be prepared for them, but don't stop doing business. We've got a very strong 12 to 18 months, as a bare minimum, coming our way."
Guests at Pepper Money's 25th anniversary celebration, including Pepper's Head of Mortgages Siobhan Williams (second from left) and Pepper Chief Executive, Mortgages and Commercial Lending Barry Saoud (second from right).
Guests got a taste of the Pepper brand with spicy margaritas topped with tiny peppers
