Sub11 Uncovered: Amplifying Innovation

The article is a transcript of a podcast interview with Damian Vasta, the CEO and founder of Sniip, a bill payment platform. Damian discusses the origins of Sniip, which started as a mobile payment app focused on QR codes in 2013.

He explains how the company pivoted to become a universal bill payment platform after realizing the challenges of getting large billers to adopt their QR code payment method.

Sniip eventually became a member of the BPAY scheme, allowing customers to pay any bill that offers BPAY. Damian also talks about Sniip's partnership with American Express, which enabled customers to earn points while paying bills with their Amex cards. The company's vision is to allow Australians to pay every bill using any payment method on their terms.

Recently, Sniip launched a feature that enables customers to pay non-BPAY billers, such as small businesses, by uploading invoices. In the future, Sniip plans to offer a biller web portal and accounting software integration, allowing businesses to send invoices directly to customers' Snip apps and streamline the payment process.

• Getahead is a jobs app that uses AI and machine learning to connect people with jobs and careers that suit their personalities and future goals.
• The app is designed to be fast and efficient, allowing users to create profiles, swipe, match, chat, and get hired all within the app.
• Founder Sam McNamara, a designer by trade, was inspired to create Getahead after his own frustrating experiences with the job application process during the COVID-19 pandemic.
• Getahead's MVP product was well-received, and the app has since grown exponentially, with over 150,000 users and 450 million social views in the last five months.
• The company's social media strategy, including street interviews and salary-focused content, has been a key driver of this growth, with an average of 1.5 million views per week.
• Getahead has attracted high-profile investors, including the co-founder of Tinder and former head of marketing, and is now looking to expand internationally, with plans to launch in the US by the end of the year.
• The company's revenue model, which will be introduced in the next couple of months, will focus on matching people with jobs quickly and transparently.
• McNamara attributes his success as a solo founder to his resilience, persistence, and ability to learn from others' experiences.

• Listing Loop Group is an end-to-end property marketplace, focusing on pre-market and off-market properties.
• The platform aims to remove friction from the buy, finance, and sell process by offering all required services under one roof.
• Pre-market properties are those that have been listed for sale but are not yet on the market, while off-market properties are for sale but not listed on major portals.
• The group also offers Lending Loop, Conveyancing Loop, Moving Loop, and Hello House, a buyer's agency.
• The revenue model focuses on the $363 billion transactional market, particularly lending and peripheral services.
• Listing Loop aims to differentiate itself by offering exceptional customer service and educating buyers and sellers.
• The company has invested in refining its data collection and analysis to enhance the customer experience.
• Near-term goals include achieving cashflow break-even within 12 months and refining the platform through IT and marketing adjustments.
• The company has seen significant growth in revenue, property listings, registered buyers, and finance settlements.

• Chris Titley interviews Pascale Helyar-Moray OAM founder of Grow My Money, about her recent recognition and the business's evolution.
• Helyar-Moray received the Medal of the Order of Australia (OAM) for services to business and women's affairs, an honor published in the 2024 Australia Day Honours List.
• She describes the surprise of her nomination and the challenging embargo period before the official announcement.
• Helyar-Moray founded Grow My Money (previously Super Rewards) to address the issue of women retiring into poverty due to systemic design deficits in the superannuation system.
• The platform offers cashback from everyday spending into superannuation or mortgage accounts, providing a form of future sustainable wealth creation.
• The business has expanded from 100 to 500 online retailers and includes card-linking for in-store purchases, with a clear proposition that appeals to retailers and users.
• Helyar-Moray provides an example of how the platform works: a $1000 spend at a participating retailer could result in $20 cashback, which can be directed to superannuation or mortgage payments.
• The company aims to build brand awareness and user base through direct-to-user strategies and corporate partnerships.
• Helyar-Moray shares the potential long-term impact of cashback, with $1771 in cashback potentially growing to $55,000 in 25 years, providing significant financial benefits for retirement.

Chris Titley interviews Darcy Lord, a real estate veteran with 20 years of experience in Brisbane, discussing the evolution of the Brisbane real estate market, the impact of economic events, and the launch of "Make an Offer," a platform allowing users to make offers on any property in Australia, aiming to streamline the property buying process by connecting potential buyers directly with sellers, bypassing traditional barriers.

In the latest episode of the Sub 11 Uncovered podcast series, I had the pleasure of sitting down with Ewen Hollingsworth, the co-founder of Spark Finance, a fintech company that's making waves in the field of tuition financing for international students. I’ve known and followed Ewen’s progress for 18 months so it was great to finally have a chat over the podcast. 

Ewen shared the origins of Spark Finance, born out of his own struggles to fund his MBA in the UK. Despite securing a bursary and contributions from his family, the financial burden of studying abroad was daunting. His experience led to the realization that there was a significant gap in the market for providing unsecured credit to international students. This revelation was the catalyst for Spark Finance, aiming to ease the financial strain for students dreaming of studying overseas.

The conversation also delved into the challenges faced by Spark Finance, especially during the tumultuous times brought on by COVID-19. Ewen candidly discussed the doubts and hurdles that came with launching and scaling a business during a global pandemic. 

However, he also highlighted the invaluable advice received from an advisor during these trying times: "This too shall pass." This mantra of perseverance and resilience has been a guiding light for Ewen and his team, underscoring the importance of grit in the entrepreneurial journey.

Ewen's story is not just about the birth of Spark Finance but also about the broader impact of fintech innovations in making education more accessible. As we wrapped up our conversation, Ewan expressed a humble request to our listeners: to spread the word about Spark Finance. Whether you're a student dreaming of studying abroad or a university looking to support international students, Spark Finance is here to bridge the financial gap.

Reflecting on my conversation with Ewan, I'm reminded of the power of entrepreneurship to not only solve personal challenges but also to create solutions that benefit a wider community. 

As we continue to uncover the stories of start-ups and innovators, I'm excited to see where Ewen and Spark Finance will go from here. 

Sub-11 Uncovered: The Story of Bill Chaser

Key Insights and Concepts:

• Origin and Purpose: Bill Chaser, co-founded by James Stewart around 2018, emerged to address a gap in the debt collection industry, focusing on small to medium enterprises (SMEs) rather than large banks or corporations. It aims to provide a legitimate avenue for debt collection to businesses unfamiliar with the process.
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• COVID-19 Impact: The business faced challenges during the COVID-19 pandemic, particularly with the Queensland treasurer's call to halt debt collection activities.
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• Digital-Only Approach: Bill Chaser operates as a solely digital debt collection agency, maintaining a small staff (never exceeding three members) while managing a large client base (4,000 to 5,000 clients) and a significant number of accounts (140,000 to 160,000 across Australia).
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• Client Acquisition and Services: The company primarily gains clients through word of mouth, offering services to a diverse range of businesses. It charges a commission based on the complexity of the account, starting from 20% and potentially lowering to single digits.
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• Use of Technology: Bill Chaser leverages technology, including AI and partnerships with tech providers like Yabr, to efficiently manage debt collection processes. This includes a chat platform for moderated communication between clients and debtors, aiming to resolve disputes amicably.
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• Regulatory Compliance: The debt collection industry is heavily regulated, with agencies like ASIC and ACCC overseeing operations. Bill Chaser adheres to these regulations, emphasizing ethical and respectful treatment of debtors.
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• Market Position and Competition: Bill Chaser occupies a niche in the contingent collections segment of the debt collection market, with few direct competitors. It differentiates itself through its digital-first approach and efficient client acquisition strategy.

• Future of AI in Debt Collection: The company sees AI as crucial for scaling its services and handling complex tasks like assessing financial hardship. AI's role is expected to grow, allowing for more personalized and efficient debt collection processes.

• Financial Education and Flexibility: Bill Chaser advocates for financial education and offers flexible payment options to debtors, recognizing the importance of addressing the root causes of debt and providing manageable solutions.
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• Entrepreneurial Insights: James Stewart highlights the importance of solving a problem before developing technology and the need for action to prevent stress. These principles guide his approach to managing and growing Bill Chaser

In summary, Bill Chaser represents a modern, ethical approach to debt collection, leveraging technology to serve SMEs effectively while navigating the regulatory landscape and advocating for debtor education and flexibility.

• Ben Pullen is the founder and CEO of Outposter, a managed outsourced agency providing recruitment services and management of offshore staff for businesses globally, primarily operating from Australia.
• Outposter began after Ben's exits from previous ventures, including Vaya Mobile to Amaysim and Startel to TruPhone, leveraging his experience with offshore offices in Manila for back office and customer support.

• The company differentiates itself by offering a managed service, addressing the challenges businesses face in managing offshore staff, including time, skills, resources, and understanding of local culture.

• Outposter directly employs staff in India and the Philippines, handling HR, legal aspects, and ensuring clients have direct access to their offshore staff while managing day-to-day operations and support.

• The company services a wide range of roles across various industries, including finance, telecoms, graphic design, marketing, mortgage brokering, civil engineering, and mechanical drafting.

• The COVID-19 pandemic and the shift towards remote work have played into Outposter's hands, with the company operating 100% remotely in the Philippines and focusing on software and hardware investments for security and productivity.

• Outposter emphasizes community among its remote staff by organizing regular gatherings and workshops, despite the geographical dispersion due to the pandemic.

• The company advocates for early adoption of offshore hiring to integrate it smoothly into business processes and avoid disruption or resentment among existing employees.

• Outposter's clientele includes startups looking to maximize investment value, businesses facing skill shortages, and those needing operational flexibility and support, including 24/7 service capabilities.

• The company has developed proprietary software to streamline recruitment and management processes, enhancing efficiency and client satisfaction.

• Ben Pullen advises entrepreneurs to focus on three key metrics for business health and decision-making, emphasizing the importance of aligning actions with these indicators for direction and growth.

Sub 11 Uncovered Series: Episode 1 with James Morrell Co-founder of Muval

1. Muval is a booking platform for moving house, similar to booking.com but for moving services.
2. The company was founded in 2018 by James Muval and his co-founder Mahdi, who noticed underutilized space in moving trucks.
3. Muval leverages technology to connect customers with moving companies, allowing for discounted prices and better space utilization.
4. The platform addresses the industry practice of backloading, scaling it across the country.
5. Moving is identified as a key moment for consumers to change consumption habits, presenting opportunities for various services and products.
6. The moving industry was largely untouched by technology, presenting an opportunity for Muval to innovate and solve pain points.
7. Muval faced the classic marketplace challenge of balancing supply and demand, eventually establishing a credible name that attracted moving companies.
8. The company focused on unit economics and organic search to efficiently acquire customers on the consumer side.
9. Trust and customer reviews are crucial for Muval, with a focus on turning negative feedback into positive outcomes.
10. Customer feedback drives product innovation, focusing on convenience, good pricing, and expanding service offerings.
11. Muval has repeat customers and targets specific life moments for moving, using content and partnerships to stay relevant.
12. The company has benefited from angel investors and a family office, valuing their network and support.
13. Muval future plans include expanding distribution, focusing on corporate relocations, and continuing to scale the business.
14. Advice from fellow startup founders about the reality of startup struggles has been valuable for resilience and solidarity.