FinTechs made Basiq a success, says Damir Cuca

Damir Cuca, Founder, Basiq (exit to Cuscal)

(Note: this is a long/extended episode at 1 hour; we cover the Cuscal period, financial education and what Damir is looking at doing post Basiq)

Damir has worked in the tech sector for 20 years, the past 10 have been as Founder and CEO of Basiq
Basiq is an Australian Open Banking platform that offers secure access to consumer financial data. We empower fintechs, banks, and developers to create next-generation financial solutions
Basiq was sold to Cuscal last year and Damir is now taking on new challenges and opportunities in the fintech industry. Under his leadership, Basiq has achieved significant milestones in advancing Open Banking in Australia, transforming the way financial data is accessed and utilized. His vision and expertise continue to drive innovation, making him a prominent figure in the tech sector.

In this episode we discuss:

·       What makes CDR a huge opportunity?

·       How did Damir grow the business?

·       How he tried to sell to banks, but ended up selling to FinTechs; and it was fintechs that made Basiq a success – because it was fintechs that were doing ALL the innovation

·       Why did Damir sell to Cuscal?

·       What should Founders think about regarding selling/exiting the business, including the ‘earn out’ period?

·       What is Damir working on now?

·       How does Damir help his children learn about finance?