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.