Tiimely Pty Ltd Company Profile

Background

Company Overview

Tiimely Pty Ltd, formerly known as Tic:Toc, is an Australian platform technology company specializing in financial technology and services. Established in 2015 by founder and CEO Anthony Baum, Tiimely is headquartered in Adelaide, South Australia, with a satellite office in Sydney. The company employs approximately 140 individuals across these locations.

Mission and Vision

Tiimely's mission is to revolutionize the mortgage experience by combining technology and human expertise to simplify complex processes, automate laborious tasks, and humanize digital interactions. The company's vision is encapsulated in its pursuit of seamless financial services, aiming to enhance customer experiences and operational efficiency across the finance industry.

Industry Significance

Since its public launch in 2017, Tiimely has made significant strides in the financial technology sector. The company's proprietary platform, Xapii, now touches over 3% of Australia's home loan industry, underscoring its growing influence and adoption within the market.

Key Strategic Focus

Core Objectives

Tiimely focuses on delivering platform technology solutions that enable smarter, faster, and simpler lending processes. The company aims to enhance customer experiences, drive operational efficiency, reduce costs, and accommodate scalability for its partners.

Areas of Specialization

Tiimely specializes in developing and licensing its proprietary platform, Xapii, which offers configurable solutions for various financial services, including mortgages, consumer lending, and hardship management. The platform's open architecture allows for quick integration and customization to meet diverse business needs.

Key Technologies Utilized

The company's technology stack includes artificial intelligence (AI) and machine learning (ML) capabilities, enabling real-time lending decisioning and process automation. Tiimely's platform efficiently consolidates data sources, enriches information, and automates business processes to deliver contextual customer insights and outcomes.

Primary Markets Targeted

Tiimely primarily targets the Australian financial services sector, partnering with major banks, ASX Top 100 listed companies, fintechs, and brokers to enhance their lending offerings. The company's solutions are designed to be adaptable across various financial products and services.

Financials and Funding

Funding History

Tiimely has undergone several funding rounds to support its growth and development:

Seed Funding (2016): Secured initial funding from Bendigo & Adelaide Bank, which also provides the funds for Tiimely’s home loans.

Series A (March 2017): Raised A$4.1 million from Bendigo & Adelaide Bank.

Series B (July 2018): Raised A$11.5 million, led by La Trobe Financial and Genworth Mortgage Insurance Australia.

Series D (December 2022): Raised A$54 million, led by Regal Funds Management, with participation from existing investors Bendigo & Adelaide Bank and IAG Firemark Ventures.

Notable Investors

Key investors include Bendigo & Adelaide Bank, La Trobe Financial, Genworth Mortgage Insurance Australia, Regal Funds Management, and IAG Firemark Ventures.

Utilization of Capital

The capital raised has been utilized to enhance Tiimely's technological capabilities, expand its product offerings, and scale its operations to meet increasing market demand.

Technological Platform and Innovation

Proprietary Technologies

Tiimely's flagship platform, Xapii, is a highly configurable solution that integrates disparate data sources to enable customer fulfillment journeys, process automation, and exception-based credit decisioning.

Significant Scientific Methods

The platform leverages AI and ML algorithms to automate the validation of customer data, real-time lending decisioning, and process automation, enhancing efficiency and accuracy in lending processes.

Leadership Team

Executive Profiles

Anthony Baum: Founder and Chief Executive Officer. Anthony has been instrumental in steering Tiimely's strategic direction and growth since its inception.

Yasmin Allen: Board Chair. Appointed in November 2021, Yasmin brings extensive experience in corporate governance and financial services.

Bruce Speirs: Board Member. Bruce contributes his expertise in banking and financial services to the board.

Julie Batch: Board Member. Julie offers insights from her background in insurance and customer experience.

John Wilson: Board Member. John provides strategic guidance with his experience in technology and innovation.

Sam McDonagh: Board Member. Sam brings a wealth of knowledge in digital platforms and consumer engagement.

Competitor Profile

Market Insights and Dynamics

The Australian financial technology sector is experiencing significant growth, driven by increasing demand for digital solutions that enhance customer experiences and operational efficiency. The mortgage industry, in particular, is undergoing transformation with the adoption of AI and ML technologies.

Competitor Analysis

Tiimely operates in a competitive landscape with several notable players:

Habito: A UK-based online mortgage broker utilizing technology to simplify the mortgage application process.

Athena: An Australian fintech company offering home loan refinancing with a focus on reducing interest costs for borrowers.

HashChing: An Australian online marketplace connecting borrowers with mortgage brokers to access competitive home loan deals.

Pretto: A French fintech company providing online mortgage brokerage services with a focus on transparency and customer empowerment.

Strategic Collaborations and Partnerships

Tiimely has established significant partnerships to strengthen its market position and expand its capabilities:

Bendigo & Adelaide Bank: A major shareholder and partner, providing funding for Tiimely's home loans and collaborating on digital mortgage solutions.

La Trobe Financial and Genworth Mortgage Insurance Australia: Investors in Tiimely's Series B funding round, supporting the company's growth and innovation initiatives.

Regal Funds Management and IAG Firemark Ventures: Led the Series D funding round, enabling further technological advancements and market expansion.

Operational Insights

Strategic Considerations

Tiimely's strategic focus on combining technology with human expertise positions it uniquely in the market. The company's open architecture and configurable solutions offer distinct competitive advantages, allowing partners to integrate and customize the platform to their specific needs.

Market Position

With its platform touching over 3% of Australia's home loan industry, Tiimely has established a strong foothold in the market. The company's partnerships with major banks and ASX Top 100 listed companies further reinforce its credibility and market presence.

Strategic Opportunities and Future Directions

Strategic Roadmap

Tiimely aims to continue its pursuit of seamless financial services by enhancing its platform's capabilities, expanding its product offerings, and entering new markets.

Opportunities for Expansion

The company is exploring opportunities to extend its platform solutions beyond mortgages to other areas of financial services, leveraging its AI and ML capabilities to drive innovation and efficiency.

Positioning for Future Objectives

Tiimely's commitment to innovation, customer-centric solutions, and strategic partnerships positions it well to achieve its future objectives and maintain a competitive edge in the evolving financial technology landscape.