Hi Friends, Supporters and Stakeholder
As we near the end of calendar Q1 – I thought it would be a good time to update on progress this year at Credi.
This channel represents our 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 us to their professional advisors – with whom we seek to engage with or commercialisation model – Credi Partner.
Over the coming months, we 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 we 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
We are onboarding 3 partners with a target aggregated customer usage of 800 accounts – which should deliver a baseline annual revenue of $ 144,000. We have another 10 partners under discussion and our revenue pipeline should grow materially from the Accounting Expo in Sydney 21-22 March – where 7000 visitors will be in attendance. We are targeting to recruit 50 new partners to our program from this event
The loan solutions on offer will be; Basic Loan, Secured Loan.
We are 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, we have to recruit, retain and in some instances part company with staff as we seek the talent and resource to deliver to our vision and potential. We have re-organised our management group with our COO leaving during March. Her role will be covered internally in the meantime whilst we 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.
We have added to our technical team with a new Head of development ( ex NAB ) , and our Credi staffed technical group in Nepal is operational with an initial three recruits. Our intention is to grow this team to 20 over the next two years, We have also recruited a Head of digital to bring in-house our digital marketing execution.
Highlights • New Head of Development • New Head of Digital • New technical team established to speed development rollout to our global footprint
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
As ever, happy to discuss and welcome inputs, feedback and of course any referrals and introductions ongoing as we continue to deliver Credi globally.
We want to talk to your accountant/ bookkeeper/advisor.We will reward any introduction that leads to a successful signup and usage of Credi at a partner with a $150 bounty. Word of mouth referrals from happy users is a key component of our partner recruitment program.