Rate Money is upping the ante on its national expansion plans as it moves into new markets and adds a string of senior-level hires.
Most recently, the non-bank lender has hired Robert Cannizzaro as head of risk and compliance, and Frank Knez as chief marketing officer, both reporting directly to Rate Money Chief Executive Officer Ryan Gair. The hires follow recent additions to its senior credit and partnership teams, as the business continues to scale.
"Rate Money has experienced strong growth, and as we continue to expand nationally, it's important we have the right leadership in place to support the next stage of our journey," Gair told Australian Broker. "Our recent executive appointments bring significant industry experience and proven leadership that will help strengthen the business as we scale.
The CEO added that Cannizzaro and Knez, in particular, "bring extensive industry experience and complementary skills that strengthen our leadership team and position us for the opportunities ahead. Combined with our expansion into new markets across Australia, these appointments position us well to support our branches, drive sustainable growth and continue building a strong national network."
Rate Money's story began in 2019. Since then the non-bank has grown to include more than 41 branches across the country, most recently entering the Western Australia markets. Rate Money also has franchisee offices in New South Wales, Victoria, Queensland and South Australia. In addition, the Sydney-headquartered firm, which specializes in loans for self-employed borrowers, grew its loan book to more than $10 billion last year. Now the non-bank has its sights set on an even bigger loan book while inching closer to 50 branches by the end of 2026.
"We're continuing our growth journey," said Gair, who founded Rate Money along with Glenn Maynard and Luke Sheales. "As part of that growth, we'll continue to strengthen our presence across Australia and invest in the people and support structures needed to help our network succeed.
"Building a strong business requires investment across every part of the organisation," he added. "As we continue to grow, we're committed to ensuring we have the leadership, expertise and support structures in place to support our franchise partners, brokers and customers, while positioning the business for future opportunities."
But the current environment remains challenging thanks to inflationary pressures that have kept interest rates elevated, increased competition among lenders, looming budget and tax changes, and global uncertainty.
Gair said Rate Money is focused on staying disciplined through the cycle.
"The current environment is creating uncertainty for many Australians, particularly self-employed and small and medium enterprise (SME) customers," he explained. "As specialists in this segment, our role is to help clients navigate these challenges by identifying the right finance solutions for their individual circumstances. Whether it's purchasing a property, consolidating debt or accessing funding to support cash flow, we're focused on helping customers mitigate risk and secure the right solution for their needs. By continuing to support customers through changing market conditions, we're able to grow the business while staying true to our core expertise and commitment to helping self-employed Australians achieve their goals."
Gair added that "recent market conditions and budget changes may lead to increased interest in both owner-occupied and self-managed super fund (SMSF) lending. We're seeing more customers exploring opportunities to purchase property, restructure existing lending and utilise their SMSF as part of their property investment strategy."
Cannizzaro and Knez arrive as Rate Money continues to bring several senior leadership members on board.
In May, the firm hired La Trobe and MA Money alum Chris Oh as senior manager, credit development, and Resimac Leyla Yuksel as partnership manager, NSW. In addition, In late January, Rate Money appointed Affie Mansouri as its new NSW state manager.
"What attracted me to Rate Money was the opportunity to join a business with strong momentum and ambitious plans for the future," Cannizzaro said. "The business has achieved significant growth in a relatively short period of time, and I'm looking forward to helping build the frameworks and culture that will support its continued success."
Knez, who is also based in Sydney, comes with more than two decades of experience, including senior-level positions at Westpac, Resimac, Lendi Group and National Property Group.
"Rate Money has established a strong position in the niche market in which it operates" he said. "I'm excited to join the business at this stage of its journey and drive continued growth of our brand, franchise network and broader business objectives."
