Crowdfunding Australia
Crowdfunding Australia

Nine25

Expression of Interest

The world's first salary on subscription app has just launched into Australia's hottest jobs market!

  • Type: Retail

The world's first salary on subscription app has just launched into Australia's hottest jobs market!

Nine25

Nine25 is a mobile app that enables you to receive your salary in real‑time, pay your bills, invest and more.

    Company Overview

    In 2012, Leigh Dunsford and two schoolmates solved cash flow timing for small businesses by building a software solution that the world's largest banks now use. He successfully exited that business in 2020 to Xero for $80m. 

    Fast forward to 2021 and Leigh’s attention turned to the world's workers. Now fixated on solving financial health and wealth creation problems, he launched Nine25 in an effort to bring outdated payroll models into the 21st century.

    The Problem

    The lack of evolution in the way pay cycles have been managed has led to millions of global workers suffering stress between paydays. Many are in debt because they have no choice - payday loans, wage advance, earned wage access and BNPL are all designed as quick fixes which exacerbate anxiety, stress and debt cycles.

    Employers in 2022 find themselves in a tough labour market - talent shortages and employee retention are two of the largest global challenges which they face. In a market where employers are increasingly required to offer more than just a salary, they are seeking incentives that make them an attractive destination without compromising their brand.

    The Solution

    Nine25's technology enables global workforces to get paid in real-time for earned but unpaid wages. The provision of automated tools for money management, such as bill streaming and allocation of wages to investment products, ensures that this service is provided with the financial health of their customers in mind.

    How It Works

    • During onboarding, the user is provided with a digital wallet (Virtual account), Mastercard & instant payments. 
    • Event-driven technology monitors employment data to determine a user’s net earnings each hour.
    • Automated features allocate earnings in real-time to upcoming bills, investing, donations and saving goals. 
    • A dynamic Safe Spend feature automatically calculates to determine a user's real-time spendable amount after all bills and other necessities are taken care of.

    The opportunity is huge - excluding direct-to-consumer acquisition and current negotiations with enterprise employment platforms, based only on agreements and integration roadmap, Nine25 estimates their Serviceable Partner Market to be ~3m potential users.

    Crowdfunding Australia

    Investment Highlights

    1. Disruptive Global Technology that Revolutionises the Pay Cycle

      Nine25 is a financial health service provider, not a payday lender. On top of real-time access to earned wages, Nine25 proportionally allocates wages to bills and investment products. The focus on effective money management is core to the offering and a meaningful differentiator from credit providers who do not have the wellbeing of their consumers front of mind.

    2. Heavily Validated Model Primed for Go-Live

      Nine25's financial health model has been through extensive stress testing from leading employment platforms with overwhelmingly positive feedback resulting in secured partnership agreements. Additionally, Nine25 has received endorsements from respected charities like OzHarvest and the RSPCA that underlines our focus on financial health and our responsible product offering.

    3. Multi-Sided Platform Offering Low-Cost Acquisition Channels for Growth

      Nine25 delivers value across multiple channels:

      - B2C: Employees can sign up directly, without employer involvement. 

      - B2B: Employer-sponsored financial health programs endorsed, promoted and paid for directly by the employer. 

      - B2B2C: Technical integrations with HR, payroll and time & attendance platforms provide embedded distribution via partnerships. 

      - Merchants: Nine25 partners with bill providers & consumer brands.

      Nine25’s growth strategy leverages the power of multi-sided networks, in order to drive efficient customer acquisition and defensibility.

    4. Innovative Credit Delivery Model

      Nine25 sets a new standard for how credit risk is assessed with user consent-based access to employment records, allowing for real-time assessment of wages earned. This method is both secure and more accurate than legacy income verification practises, and drives a high level of credit efficiency - weighted averages for debt cycles are ~6.4 days.

    5. Premium UX Ensuring Efficient Onboarding Process

      Exceptionally fast onboarding, contextual user experiences and a slick interface drives a modern UX pathway that meets the standard expected by Nine25’s target audience. Its slick UX drives lower churn through the onboarding process and beyond.

    6. Highly Credentialled Team

      Nine25 Founder Leigh, having already scaled and exited a financial technology business, is well placed to use his experience to continue making an impact in the industry. In addition, Leigh has surrounded himself with a team of experts with extensive experience in each of their core competencies including:

      - Cutting edge engineers 

      - First class product managers and designers 

      - Experienced corporate sales and distribution executives 

      - Highly experienced bank credit risk/operations talent

    Why Equity Crowdfunding?

    Nine25 understands that money is inherently social. Financial inclusion, financial health & financial independence is core to everything they do.

    So that their community can be a part of the growth journey from the very beginning, Nine25 chose to raise money via equity crowdfunding. If you resonate with Leigh, his team and the mission, become a co-owner and share in the success of Nine25.

    Now streaming: Financial independence!