Company Research Report: Shift Financial Pty Ltd
Company Overview
Name: Shift Financial Pty Ltd
Mission of the Company:
Shift provides financial certainty to businesses so they can operate and grow with a range of credit and payment products across the working capital, asset finance, and trade credit markets.
Founded: 2014
Key People:
- Jamie Osborn - Chief Executive Officer
- Renata Cihelka - Chief Commercial Officer
- Frank Sterle - Chief Operating Officer
- Eldar Averdi - Chief Technology Officer
- David Hurford - Chief Risk Officer and Acting Chief Financial Officer
- Paul Nayda - Chief Product Officer
- Alex Pasminka - Chief Marketing Officer
- Annette Matthews - Head of People & Culture
Headquarters: Level 21, 177 Pacific Hwy, North Sydney, NSW 2060, Australia
Number of Employees: 250+
Revenue: No information is available
What is the company known for:
Shift is known for providing a range of credit and payment products specific to Australian businesses, enabling them to take control of their cashflow, purchase assets, and streamline trade terms. They have disbursed over $2.5 billion in funding to support the growth aspirations of Australian businesses, operating heavily in the working capital, asset finance, and trade credit markets.
Products
Shift Connect (For Brokers)
High-level description:
A dedicated broker platform allowing for real-time client insights to enable more informed conversations.
Shift Online (For Business Owners)
High-level description:
A secure and simple business banking platform. It allows businesses to link their bank accounts and choose from a range of solutions for working capital, equipment purchase, expansion capital, or a trade account to pay suppliers.
Shift Trade (For Merchants)
High-level description:
A trade credit platform enabling merchants to multiply customer spending power with better trade terms while merchants get paid upfront.
Business Overdraft
High-level description:
Links to any business transaction account for better cash flow management.
- Key Features:
- Suitable for all business needs
- Account limits up to $1M
- Unsecured finance options available
- Only pay interest on what you use
Equipment Line
High-level description:
One account to pay for equipment and fitout purchases in instalments.
- Key Features:
- Payments spread over 5 years
- No restrictions on age or types of assets
- No repayment for 120 days on fitouts
Trade Account
High-level description:
One account to pay all suppliers for materials, stock, and services with flexible repayment options.
- Key Features:
- Account limits up to $500k in minutes
- Pay in weekly instalments up to 20 weeks
- Extend invoices when it suits you
Recent Developments
Recent Developments:
- Shift Connect Release: Enabled brokers to have a real-time view of their client's financial positions.
- OFX Integration: Integrating OFX international payments with the Shift Business Overdraft.
- Shift and payFURL Integration: Simple trade finance management integration.
New Products Launched:
- Shift Connect: A platform for brokers.
- Shift Trade: A credit platform for merchants.
- Shift Online: Business banking solutions for business owners.
New Features:
- Business Overdraft Enhancements: Integration of OFX international payments.
- Trade Account Enhancements: Flexible payment terms up to 20 weeks.
New Partnerships:
- Integration with payFURL: For trade finance management.
- Series D Equity Raise: Closed $AUD35m in funding.
- Asset Backed Securitisation: Completed a $230 million securitisation.
- Funding Expansion: Increased warehouse funding by $250 million.
Contact Information:
- Address: Level 21, 177 Pacific Hwy, North Sydney NSW 2060
- Phone: 1300 249 649
- Email: contact@shift.com.au
This report covers all available data points and excludes those for which no information is available.