Moula
Overview
Moula is an Australian non-bank lender that provides business loans for Australian businesses. The Australian Fintech was founded in 2014 by Aris Allegos (CEO), Piers Moller (CTO) and Andrew Watt (COO), and has its headquarters in Melbourne, Australia.
History
Moula was founded in 2014 by Aris Allegos (CEO), Piers Moller (CTO) and Andrew Watt (COO). Based in Melbourne, Australia, the fintech provides funding exclusively for Australian businesses. Moula developed its own proprietary lending platform that analyses business’ banking data to determine the business’ eligibility for a loan online. The three founders used their experience in the banking sector to identify an opportunity for an online business lending solution that addressed the needs of Australian businesses.
Founders and Board of Directors
Aris Allegos, CEO – Allegos co-founded Moula to provide Australian businesses access to capital, after experiencing the challenges of running a small business first-hand when he ran his family business. He worked in banking and has an MBA from London Business School and a Bachelor of Commerce and Bachelor of Law from Monash University.
Piers Moller, CTO – Moller worked in the banking industry for 14 years developing in-house software before co-founding Moula and developing their proprietary lending platform. He holds a Bachelor of Science from University College London and a Masters in Science from Middlesex University London.
Andrew Watt, COO – Watt worked in finance for 16 years before co-founding Moula to provide a faster funding alternative for the Australian SME market. He holds a Bachelor of Commerce from the University of Melbourne and is a Chartered Accountant of Australia.
Chris Ridd, Non-Executive Director – Former CEO of Xero Australia, Chris Ridd, joined Moula’s Board in 2016.[1] Chris joined Moula’s board after 30+ years of experience growing tech startups into globally recognised brands. The move was widely publicised[1] as a boon for Moula, given that it had only been established for two years.
Product
For online business loans, Moula developed its own proprietary lending platform designed to digitise a traditionally slow application process. By using customers’ business data, Moula is able to analyse applications online, instead of the weeks it takes to manually process paperwork.
Partnerships
Liberty Financial
In 2015, Moula secured funding from Australia’s largest non-bank lender Liberty Financial. The funding was critical in Moula’s growth from startup to industry leader and Liberty continues to partner with Moula.[2]
Xero
In 2015, NZ-based cloud accounting platform Xero set out to find the best-in-class financial service partners for 3 categories: foreign exchange, insurance, and business lending. After thorough due diligence, they selected OFX, CGU, and Moula respectively, and launched the three as their ‘Preferred financial services partners’.[3][4]
Officeworks
In 2017, Moula launched a new strategic partnership with Officeworks to provide Officeworks customers with a solution to access business capital.[5]
Digital Finance Analytics
In 2016, Moula partnered with DFA to launch The Disruption Index to measure disruption in the SME lending sector. The index measures customers’ confidence in lenders, awareness of new funding options such as Fintechs, the prevalence of sharing business data in loan applications, and average business loan size. The DFA Disruption Index showed that “the number of data-approved loan applicants has doubled over the past year”.[6]
Awards and Recognition
2015 – Top 50 Emerging Stars [KPMG Fintech 100]
In 2015, Moula was named in the 50 Emerging Stars in the KPMG Fintech 100 awards.
2016 – Top 50 Tech Pioneers [H2 Ventures 2016 awards]
In 2016, Moula was named in the Top 50 Tech Pioneers in H2 Ventures awards.[7]
2017 – Best non-bank lender – Cash Flow and Debtor category [Momentum Intelligence and The Advertiser]
Moula was awarded the best non-bank lender in the cash flow and debtor category of The Adviser’s awards.
2018 – Best Lender BDM Non-Bank (NSW) – The Adviser’s Better Business Awards
In 2018, Moula Business Development Manager Fiona Dickson was awarded best lender BDM for New South Wales within the Better Business Awards.[8]
References
- ↑ 1.0 1.1 "Former Xero managing director Chris Ridd joins Melbourne fintech startup Moula as it embarks on major growth plans - SmartCompany". SmartCompany. 2016-08-02. Retrieved 2018-06-25.
- ↑ Drummond, Shaun (2015-06-09). "Moula gets $30 million to fund new cashflow loans". The Sydney Morning Herald. Retrieved 2018-06-25.
- ↑ Xero Accounting Software (2015-09-06), Kleentek Turns to Moula to Fund Innovation | Warwick Davey | Xero, retrieved 2018-06-25
- ↑ Eyers, James (2015-11-22). "Xero weaves its 'financial web'". The Sydney Morning Herald. Retrieved 2018-09-23.
- ↑ "Moula & Officeworks | Backing Good Business". Moula. Retrieved 2018-09-23.
- ↑ "Moula ramps up for long-term growth". Australian FinTech. 2016-08-01. Retrieved 2018-06-25.
- ↑ "Tech Pioneers Top 50". Australian FinTech. 2016-04-27. Retrieved 2018-06-25.
- ↑ Bindi, Tas (2018-05-08). "Best in the business: The Adviser Better Business Awards 2018". Retrieved 2018-06-25.
External links
This article "Moula" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Moula. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
