Wednesday, 25 March 2015 17:01

Kikka launches SME online lending platform

By
Kikka Capital CEO David Brennan Kikka Capital CEO David Brennan

Perth-based and owned online financial services company Kikka Capital is launching one of Australia’s first online business lending platforms for SMEs.

Kikka says the platform will enable small- to medium-sized enterprises to access capital in an efficient and easy way. The new platform is operated, funded and serviced by Kikka and powered by the US market leader Kabbage, the only company in the industry with a fully automated technology and data platform.

Kikka is scheduled to launch its online platform and commence lending in the second quarter of this year.

Kikka CEO & Founder, David Brennan says the platform will provide Australian small businesses 24/7 access to working capital facilities of up to $100,000, with credit approvals in just minutes.

According to Brennan, unlike traditional lending models, the Kikka Capital site leverages Kabbage’s technology platform to collect and analyse small business data in real time, enabling credit decisions to be made at the initial funding phase and throughout the life of the lending relationship with each customer.

“We are extremely excited to be teaming up with Kabbage, the industry leader in automated, real-time underwriting,” Brennan said.

“Combining Kabbage’s extensive experience with our small business loan offering is crucial to accelerate our entry into the SME lending market and ensure we stay ahead of the curve in this fast-moving online lending space.

“Recent Reserve Bank of Australia statistics show that about 55% of all businesses with annual turnover of less than $A10 million fund their business development using personal credit cards.

“We see a tremendous growth opportunity in the online lending market as we apply modern technology to make capital more readily available to Australian small businesses and bypass the long, slow and out-dated processes currently offered by the mainstream banks.”

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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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