Credi
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Credi World leading relationship-lending platform formalising loan agreements between family members, friends and businesses.
  • Finance
  • Internet Business
  • Mobile Apps
  • A$234,150

    invested

  • 117.1% funded

  • 0

    time left

  • 3.2% - 14.1%

    min - max equity offered

  • A$200,000 - A$1,000,000

    min - max investment sought

  • A$210

    min investment parcel

OFFER IS CLOSED
You talk about an IPO, what about a trade sale as an option for investors to have a liquidity event

2018 & 2019 saw record growth in fintech M&A deals says Finextra.com

A record $117 billion in fintech deals have been done this year reports businessinsider.com.au

Seems like a trade sale is viable option

william roberts posted on 21.06.2019

Interesting and very topical question

There is a lot of talk about companies staying private longer, and whilst we have looked and have an an option a listing on the ASX, we have our eyes on ALL options to provide both growth capital and liquidity because we are in the business of wealth creation - for both our users and our investors.

There are groups who are profiling companies like Credi - because our demographic , and out transaction type provides a myriad of opportunities - data, customers, relationships, network . Our typical user today is a 47 year old who is the world of wealth is on the cusp of being either " Mass Affluent " or High Net Worth " lending to a 25 year old .....ovre a 4 year period with monthly interactions.

Our trusted relationships are a very interesting segment if you consider the transition of wealth from inheritance ( on death ) to in life wealth transfer ( which as the Australian pointed out last week : " Bank of Mum and Dad - Lend it or Lose it " -

Tim K Dean posted on 21.06.2019

Replied to william roberts

Credi promotes financial education.. tell us more

Tim
I read in a article by Jess Ellerm on Wealthness that Credi promotes financial education.

Our expericence is that the formality and process/ structure of Credi heads off conflict that arises through uncertaintly and disorganisation. Prevention rather than cure is the key here. Better still, it promotes financial education, which means a Credi loan experience as a precursor to using commercial credit educates the borrower and prepares them for the obligations and commitments of, for example, a bigger bank loan in the future.

Cn you expand on this

william roberts posted on 21.06.2019

Great question.

By the very nature of the audience being materially parents - and often lending to young adults as an alternative to say for example a credit card , with the clear objective to offer a loan at low or no interest versus say a 20% APR , the intention is often both help ( a loan at official mates rates ) and to introduce the children to the scary world of finance through a loan from a friendly party - - - you could say finance training wheels .

I personally found that my young adult children went from being a bit ad-hoc repaying dad for a loan for a flight, or even a first car .....to being simply fantastic . Now Scott Pape has a lot more on the subject, but teaching your kids in a real and practical way about the cost of money, about the obligations an agreement imposes, will in the main make them better users of credit down the track.

The flow on to being aware of the cost of finance ( and the material impact of compound interest on a loan ) will help them make better and informed choices in the future when deciding to use credit - for a car, for a house, or even when using Afterpay etc . Buy now pay later is great if you pay in time , but $ 10 a week cost for a later $ 170 repayment .....ouch. Users financially aware will make sure they don't assume free means free forever, and thats great in my book.

Tim K Dean posted on 21.06.2019

Replied to william roberts

Exit Straregy

Tim,

Thank you for sharing this investment opportunity.

Are you looking at any other exit strategies for early investors? And can you please provide more information on Credi IPO in 2020 (page 21)?

Thank you.

Clarence

Clarence Tang posted on 19.06.2019

Hi Clarence

Thank you for reaching out. This current raising is 100% focussed on delivering capital for marketing . As per our narrative we have run on almost entirely organic growth for the last year, with a combined digital marketing and traditions ad strategy to accelerate growth. Over the last few days since we set this campaign live we have seen a material spike in accounts being opened , and last week about 6K in revenue, which is not unexpected, but signals traction as we enter our revenue phase.

Given our growth plans over the next 3 years ( targeting 50,000 accounts in Australia , and overseas markets, 2020 will be the next staging point for a further raising and a listing is something we will definitely consider. The ASX has not been friendly to tech stocks this year or for micro caps in general, and so we will have to be careful about timing and of course weighed against other against other sources of funds available at the time, VC's etc .

Thats said there are emerging exchanges in Australia to allow non listed companies to offer a market in part for their stock - and I'll look at those for sure.

The traditional ceo / founder line is that equity should always be a " hold " but I am aware that for investors, especially friends / family , circumstances change and liquidity is desirable to help everyones circumstances along the way .

Tim K Dean posted on 22.06.2019

Replied to Clarence Tang

Share buy-backs and working capital

Hi Tim,

Does Credi have provisions to buy back shares from new or existing shareholders should they request to sell? If so, is there a timeline for this consolidation?

Regards

Lara Dowdall
(former COO Credi)

Lara Dowdall posted on 19.06.2019

Hi Lara

Credi is raising capital for a marketing push in Australia . We have experienced material organic growth ( by way of example we had 10 new accounts open just yesterday ) - and with partners onboarding , the time is appropriate to put marketing dollars to use and scale the business

Its just not the time for either share buy back or consolidation. Investors are putting money into the business for the purpose of growth capital.

That said, we fully appreciate that we are in the wealth creating business for our shareholders, and of course in due course we will look closer at either a listing or as I am sure we will be approached by organisations looking too us in a " trade sale type structure " . All will be considered in due course, but now is obviously not the time.

Tim K Dean posted on 21.06.2019

Replied to Lara Dowdall

General Questions

Hi Tim

Just some queries in the offer document, if you could clarify:

In the income section on the P&L you have CREDI & PPSR Application Fees totaling $6.9k for 9 months to 2019, and $16.7k for FY2018. What is the reason for this large discrepency? Fees seem to be going backwards?

I might be answering my own question, but on the cashflow statement it reports $24k in receipts 9 months into FY2019, and $1.7k in FY2018. I'm assuming that Credi has only recently gone to SaaS? And as such, the receipts from customers on the cashflow statement reflects the monthly SaaS fees (not application fees, as well as rebates, interest), as recognised revenue? Can you shed some light on this?

Regarding your platform, I notice that your CTO has experience in AI and blockchain. I'm interested to know whether the Credi platform, either in it's current state or in future iterations, will utilise smart contracts to store and settle loan parameters, interest rates, repayments and maturity?

More than happy to chat over the phone or in person (I am in Perth) to get a better picture of Credi and the business trajectory.

Cheers

Peter

Peter Edwards posted on 19.06.2019

Hi Peter

Always happy to get on a call , if you email your details to timkdean@credi.com.

In answer to your question - You are right - Credi is just entering its revenue fees through SaaS . The revenue in 2018 was impacted by a one off fee to an accounting firm for a Div 7a solution for its client base which tested our solution, but our view is that this loan type , delivered through our partner portal, should form part of a monthly license fee ongoing.

Regarding A1 and Blockchain - we have a clear view on where we will add smart contracts. We understand how and where this will apply. Our short term objective is to deliver to our customer base - a simple and understood format - then add blockchain functionality .

We can deliver contracts digitally ( or even "old school " for those that want a paper copy ) , smart contracts is a logical progression.


Tim K Dean posted on 19.06.2019

Replied to Peter Edwards

How with the Prudential review mentioned in todays AFR article impact Credis business

How will the Prudential review mentioned in today’s Jun 17, 2019 AFR article impact Credi’s business

see article by Duncan Hughes below

Bank of Mum and Dad, one of the nation’s top 10 property lenders, is facing tougher prudential controls amid concerns lax standards could jeopardise the financial welfare of borrower and lender.

National Australia Bank and other leading lenders are rolling out tougher terms in response to the new Banking Code of Practice that starts at the end of June.

From Monday, NAB said it was introducing new guidelines for Bank of Mum and Dad that “complements the law and, in some areas, sets higher standards”.

“We are ensuring that what we communicate with our customers is transparent, clear and timely. We’re also ensuring that our customers are treated respectfully and fairly, and have the benefit of credit processes that support a responsible approach for lending,” NAB says.

Under NAB’s new controls, loan guarantors will face improved scrutiny of their suitability by providing more information about how it will impact their finances and awareness of responsibilities.

For example, evidence will be required that guarantors obtained legal advice, or reviewed the documentation setting out terms and conditions.

In addition, a process is being introduced to protect co-borrowers, which is an additional borrower whose name appears on loan documents and whose income and credit history is used to qualify for the loan.

Where co-borrowers are not receiving a substantial benefit from the loan proceeds there must be evidence they understand the risks.

Commonwealth Bank of Australia, ANZ and Westpac Group, which includes Bank of Melbourne, BankSA and St George Bank, are introducing similar changes.

Bank of Mum and Dad is the epithet given to parents providing the finance for their children’s property loans, typically a deposit but also help with repayments or free rent while they save a deposit for a home or investment property.

It is the nation’s ninth largest home lender, accounting for more than $29 billion in outstanding home loans, which makes it bigger than Bank of Queensland, HSBC Bank, Citigroup and Teachers Mutual Bank, according to analysis by Digital Finance Analytics DFA, an independent financial consultancy.

The typical loan is about $75,000, which is down from more than $88,000 at the height of the property boom in 2017, according to DFA analysis.

“Bank of Mum and Dad only works in rising markets,” said Martin North, DFA principal. “Parents are being asked more questions by lenders because of concerns about the impact of rising debt from loans to their children on their retirement plans,” Mr North said.

The Australian Prudential Regulation Authority is worried that parents could enter unconscionable deals with children that create big financial liabilities for them in their retirement, particularly where children are involved in a broken relationship, or cannot maintain repayments.

Lenders are concerned that children gifted property deposits or repayments do not have a regular savings record and lack the discipline to make repayments over the term of a loan.

Regulators have also noted recent high-profile legal actions involving aggrieved parents who lost heavily from bankrolling children without involvement of lawyers, or contracts, that could set out terms and conditions.

Mortgage brokers such as Christopher Foster-Ramsay of Foster Ramsay Finance said many lenders had accepted parental finance without questioning the impact on the guarantor.

william roberts posted on 18.06.2019

Hi William

The article is a front page APR commentary that the " bank of mum and dad " is a material financial institution and highlights that more rigour is needed to manage these kind of loans - which in Credi speak starts with documentation and loan formalisation, ahead or repayment management. There are a number of players here - Lender , Borrower , Commercial Lenders wanting visibility of the transaction to decision their lending , ATO wanting correct records of liabilities and income earned, Wealth Managers and Estate Planners wanting visibility etc etc All need a solution and inputs/ outputs to these transactions

And its a multi billion dollar loan book !!!

This piece in the APR was along time coming, and at Credi its been expected. About 1/3 of the loans set up on Credi have been in the property space - and the feedback we have had from Credi user sis that 1) they want to use available funds to help their kids onto the property latter - at " official mates rates " 2 ) they want loans documented as their preference is not to gift money - possibly with a cautious eye to lending to a son/ daughter in a relationship that may not go the distance - meaning when assets divide in the event of separation - said " gift " is halved and 3 ) Delivering documentation to other family members underpinning estate planning, so a ledger of transactions is available - not all children need the same financial help from parents at the same time

Back to property transactions and deposits . Parents can help out, but the mortgage brokers have routinely taken the easy route to managing this financial help - encouraging lenders to deem the loan as a " gift " with an accompanying " statutory declaration " - job done, questions over . But parents don't want to gift for reasons outlined above. Solution 2 - get parents to " go guarantor " - now as the article points out - massive risk, as lack of disclosure and real understanding of whats entailed can lead to problems down the line. My view is that if a guarantor is needed - they need to go through the same credit approval as the borrower - now will many parents really want to do this, especially if they are linked to their children loan performance . ?

So back to making a loan. A loan is voluntary a use of funds that have been made available by the parents to their children at terms amenable to both parties. The children can then disclose the loan, its terms ( repayments ) as part of their disclosure when obtaining credit. In most cases the family loan provides a larger deposit, reduces the banks risk, and given its likely to be at a lower interest rate - means the overall serviceability is easier.

Now in reality - the likely scenario is that the child borrows to help with the costs of setting up a house - and if the family loan is instead of a high cost credit card - or an unpaid BNPL transactions - the reduction on the financial impact of these transactions can make a huge impact on the new homeowners ability to manage their routine mortgage payments - helping their credit history, helping them get cheaper credit in the future - its a spiral upwards ( good ) instead of the other way .

In summary - we agree with a lot of the commentary in the article - documentation is needed - guaranteeing a loan is problematic and if parents may need the funds back one day - a loan is a good mechanism.

I'd like to close with one observation. The Bank of Mum and Dad is most likely a two way transaction. Parents helping out when children are getting established and helping them avoid expensive credit - with a loan at " official mates rates " keeping wealth in the family - is family wealth that can be repaid in due course when the parents need funds for retirement etc ect

CNBC offers up some interesting numbers - intergenerational wealth transfer in the next 3 decades in the US will amount to over 30 trillion dollars. Makes sense because we are all getting older and money is moving in life rather than through inheritance . Credi joins up both sides of this equation and allows for this funds flow to operate both ways .

T

Tim K Dean posted on 18.06.2019

Replied to william roberts

Are there any plans for Credi as a platform to fund loans itself

Are there any plans for Credi as a platform to fund loans itself? Or to broker loans out, when borrowers cannot fund the loans completely via family and friends?

Julian Cook posted on 15.06.2019

Hi Julian

The fundamental proposition for Credi is to mobilise the huge asset class that is now known as " the bank of mum and dad " Its a huge financial institution that we aim to serve as the platform of choice to manage these important financial transactions .

Having being involved in a lending business and learned a lot from that experience I am well aware of the challenges that are faced managing lending activities , and meeting both the expectations of customers who can have an appetite for credit that is bigger than their ability to repay, and lenders who as commercial operators match up the expectations of their shareholders for good returns and year on year growth with their obligations as lenders to lend responsibly. The Royal Commission on Banking in Australia has shed light on may of the banks lending practices that the public at large have some trouble accepting.

So on balance I cannot see Credi becoming a lender.

HOWEVER - we will most certainly work with lenders and an absolutely exciting initiative we are exploring with a bank partner is to position Credi as a means to help potential borrowers who cannot immediately meet their lending criteria , access finance from a source that over the years has resolutely supported first time home buyers, entrepreneurs - the bank of Mum and Dad.
The visionary element of this interaction is the opportunity for the performance of the Credi managed loan to provide valuable and relevant information to the bank that can be applied to future loan applications . What we are talking about here is a Credi Score.

It makes absolute and common sense that a persons repayment of a family loan, their meeting of obligations is deemed relevant to their overall crediworthness.

At Credi we absolutely see family finances in use in the family environment complementing commercial lenders.

If you want to look at this from a numbers perspective then look no further than the data we have analyses since we started - telling us that the average interest rate on a loan on the Credi platform is under 3% APR. With savings rates dropping in Australia and further rate cuts on their way why wouldn't a family replace higher cost commercial credit where applicable.
Savings made this way , can then increase wealth, promote contributions to superannuation ( our partnership with Longevity App ) - which then makes commercial lending more affordable - and the blended cost of finance overall lower. Win : Win: Win

Tim K Dean posted on 15.06.2019

Replied to Julian Cook

Partners & Financials

Hi Tim

Can you provide metrics on the usage of your partners? For example:
- What proportion of loans have come from partners?
- How many of the 57 (?) have arranged loans? How many have arranged more than 1 loan?
- What's the retention rate of Credit partners?

With respect to the financials - it appears that none of the proceeds of this offer are to be used for existing working capital commitments. If this is correct, please explain your strategy for meeting the existing liabilities and operating expenses.

Thanks
Lee

Lee Tombs posted on 15.06.2019

Hi Lee

Thank you for reaching out .

Our Partner program is an ongoing program that recruits partners that either have an immediate requirement from within their client base, or expect to do so. So in that regard our program is open ended . Its early days for the program however our experience is that most partners who have set up one loan , have followed that up with more .

The partners have also been very helpful in helping us with other loan types which are being worked through - such as back to back loans - which is an instance where a business owner borrows personally for his / her business and passes on the loan and all its obligations to their business . Another loan type being delivered is a " line of credit loan - which is a loan that varies from tome to line - getting larger or smaller depending on how much the business owners " loan account " moves due to requirements. Our vision here is to offer the business owner who is essentially bankrolling the business the same protection that an external funder would establish - loan document , secured charge over the business assets .

Our original Partner product the Div 7a loan agreement was built with impending legislative changes, which have moved, and so our expected returns from that loan type were deferred. That said, when the changes do occur, most Div 7a arrangement will need re-documenting, and we will be then well placed to deliver our solution

With regards to the use of the proceeds of the offer - the first $ 200K will be used for marketing , and above that we will proportionately use part of this funds to scale the opex. Outside of that our monthly revenue covers our operating costs, with any shortfall in the instance of extra ordinary costs , such a PR , capital raising expenses being covered by the founders .

I have personally funded Credi to the tune of several hundred thousand dollars, and worked without remuneration since inception. That funding, combined with investment from friends family and increasingly Credi users, leveraging the R&D Tax Credits ( Due in July ) and the Export Development Grant Rebate ( Just received ) have provide the funding required.

The summary here is that this raising is construed to accelerate the business through marketing exposure initially in Australia. Separately we are establishing many strategic partnerships with partners whose own customer base and networks we can leverage . Example being the MOU with Oscar Rideshare yesterday to support driver vehicle finance

Tim K Dean posted on 15.06.2019

Replied to Lee Tombs

what about markets beyond Australia UK & USA

Hi Tim
In the video you talk about the substantial opportunity in Australia, the UK & The USA which I wouldn't disagree with what you dont mention is the opportunity in Emerging markets countries. I am sure different folks have different views on what an emerging market is by I am happy with the Morgan Stanley Capital International Emerging Market Index, 24 developing countries qualify as emerging markets - including
Brazil
Chile
China,
Colombia
Czech Republic
Egypt
Greece
Hungary
India
Indonesia
Korea
Malaysia
Mexico
Pakistan
Peru
Philippines
Poland
Qatar
Russia
South Africa
Taiwan
Thailand
Turkey
United Arab Emirates.

I would have thought that there is Huge opportunity in these markets and potentially less competition from other FinTechs. What are Credi’s plans to take advantage of these markets, do you already have any traction in any of the above 24 markets. What are your plans for version of credi in other languages. Are there any reasons why these markets are appealing or challenging for credi

Regards Bill

william roberts posted on 15.06.2019

Hi Bill

Our first priority is Australia and thats where the majority of usage has been. We made a decision to open the platform to international us and saw take up globally as we were " found " through routine search algorithms .

Our next destination is most likely to be the UK - for reasons of familiarity, and also as we are being introduced to potential Neo Bank partners ( Challenger Banks as known in the UK ) . Its conceivable that we may lead with that approach there as opposed to the PR led approach we have deployed in Australia .

It has to be noted that our marketing spend in the last nine months has been under $ 1000 and yet our traffic increases monthly - through referral and ongoing media exposure .

That said we have conversations at an embryonic stage with organisations in Malaysia, Nigeria and Singapore which we will explore to see how we can deliver local solutions .


Of particular note is that Credi is by its very nature Sharia Law friendly - Any form of financing made according to Islamic law must not carry the payment or receipt of interest. This will provide a huge opportunity for us in due course.

Finally regarding language - we kept our launch to english speaking , however we have in a test environment issued loan documentation simultaneously in English and Chinese - the use case for that was where the lenders first language was not english. At scale and in due course we will revisit this as required - but we have sourced the expertise to roll that functionality across other languages

Tim K Dean posted on 15.06.2019

Replied to william roberts

Question

Hi Tim,

Thanks for the opportunity to invest in Credi.

It is noted on the article below that one of your previous entity PAID International was fined, entered into enforceable undertaking and went into voluntary administration after some issues with misleading advertising and overcharging of fees.

https://www.smartcompany.com.au/finance/paid-international-collapses-into-voluntary-administration/

Can you please provide some background on the voluntary administration and its outcome, any learnings from the episode and how Credi will avoid getting on the wrong side of customers and regulators?

Thanks in advance

Josh

Joshua Lau posted on 14.06.2019

Hi Josh

Good question and thanks for taking the time to ask.

Credi operates as a platform to support friends and family lending to friends and family. The loans are between people known to each other and the rates are set by the borrower with lender, and we play no part in either matching borrower to lender or the terms of the transaction. Our position is therefore not as a lender but as a platform to facilitate these much needed transactions. In our history we have of course tracked the rates charged on Credi, and we have seen an average interest rate of around 3% pa which a long long way away from the rates commercial lenders charge even for Credit cards.

So we do not advertise to generate customers for lenders , of advise on terms or term - our role is to provide a platform to enable these transactions to happen better . To date our marketing expenditure has been minimal . We have countless testimonials from users who have welcomed the service we offer to support there desire to support friends and family financially - which has led to most of our business being generated through referral and word of mouth . This raising is to provide the resources to promote Credi wider under the terms outlined above

Tim K Dean posted on 14.06.2019

Replied to Joshua Lau

  • > Offer Type: Australian Retail (CSF) Offer This offer is open to Retail and Wholesale/Sophisticated investors in Australia. Whilst in New Zealand the offer is open to Wholesale investors.
  • > Company: Credi Pty Ltd Securities purchased are for direct equity in Credi Pty Ltd .
  • > Security Type: Ordinary Shares
  • > Fees Paid by Issuer: 6.00% of funds raised Upon successful completion of this funding round a total of 6.00% of capital raised will be paid by the Issuer to Equitise.
  • > Cooling-Off Rights: 5 working days - Retail investors in Australia are able to withdraw their applications for securities with accordance to the Australian Crowd Source Funding (CSF) regulations. For more information please click on the link supplied.
    More Info
  • > Related Parties: None

More detailed information about this offer is contained in this Offer Document

Offer Document
Offer overview

The Company is offering 1,904,762 to 9,523,810 ordinary shares under the following terms:

Executive summary

OVERVIEW

Credi is the world’s leading relationship lending platform - managing millions of dollars of loans between friends and family at interest rates a fraction of those offered by the banks.

Australians are overwhelmingly dissatisfied with financial institutions, which have been the subject of scrutiny amidst unethical and predatory lending practices. Instead, we are turning towards those we love and trust for our financing needs, including family, friends and colleagues. Australians are already lending millions of dollars to friends and family, at an average interest rate of 3%.

Credi is uniquely positioned to deliver loans at rates that can change the way Australians finance their lives, with even small value loans saving thousands of dollars over their lifetime - retaining and preserving family finances and providing the foundations for saving and superannuation contribution earlier in the financing lifecycle.

INVESTMENT HIGHLIGHTS 

THE CREDI SOLUTION

Business model

OVERVIEW

Credi is a high volume Software as a Service (SaaS) business, generating income through an initial loan setup fee and monthly subscription. The Company has two main product channels, Credi Premium and Credi Partner. Within both product channels, Credi offers a variety of products as shown in the diagram below.

CREDI PREMIUM

Credi Premium is a mass appeal platform which contracts and manages loans between individuals. The platform allows parties to negotiate, document and manage their loans as either the borrower or the lender. This can be as an individual, partner in a partnership, director of a company, a business owner or trustee of a superannuation fund.

Credi Premium charges an initial setup fee of $80-$1450, with a transaction fee from $15 per month depending on the loan type (see the table below).

CREDI PARTNER

Credi Partner is a comprehensive loan administration system used by advisors for their clients. The platform allows our business partners to use the Credi platform to establish, document and manage loans as a third party, on behalf of their clients. We are developing partner relationships with accounting firms, financial planners and mortgage brokers. 

Strategy & Vision

OVERVIEW

Credi seeks to be the platform of choice for any relationship based loan. With a scaling base of asset rich users, a material opportunity exists for strategic partnerships with other financial service providers, wealth managers and financial advisors to deliver multiple revenue streams from within the Credi ecosystem.

With a scaling base of asset rich users, a material opportunity exists for strategic partnerships with other financial service providers, wealth managers and financial advisors to deliver multiple revenue streams from within the Credi ecosystem.

CREDI APP - "CREDI TRACK"

Credi Track was launched in 2018 to allow Credi users to manage their loans from their mobile devices. With over 70% of Credi users accessing the platform from a mobile device, a mobile application was essential to deliver usage and access.

Credi Track - delivers loan repayment management, and will become the platform for loan management and loan origination through direct input or voice activation in the future.

CREDI DEBIT CARD

Credi intends to launch a "family funded" debit card in partnership with a leading Australian neobank in Q3 2019.

Users will enjoy all the benefits of a state of the art card including travel, overseas ATM withdrawals, phone payment, transaction management and card management, together with nil or low-cost funding provided by family members.

For example, replacing a $4,000 credit card debt at an Annual Percentage Rate of 24% with a family funded card at 3% p.a. will provide $17,000 of savings if only the minimum payment is made.

MARKETING STRATEGY 

Use of funds

The table below sets out the intended use of funds raised under this Offer based on the minimum and maximum subscription amounts.

For further information please refer to section 3.2 of the Offer Document.

Financial summary

For a full breakdown of the financials for Credi Pty Ltd please see section 2.12 of the Offer Document.

Risks facing the business

The table below is a summary of the main risks facing the business.

For a full breakdown please refer to section 2.13 of the Offer Document.

Patrick Green

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Tim K Dean

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Credi CSF Offer Document

This is the Credi CSF Offer Document as at 17 May 2019.

Download

The investors below have committed capital to the business in this funding round.

Aditya Suvarna

2019-07-11 23:42:03

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Roger Kent

2019-07-11 22:49:06

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jstep

2019-07-11 21:46:27

Satyam

2019-07-11 21:02:23

GARY YIP

2019-07-11 20:55:30

Investor

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Mark Kierzak

2019-07-11 20:47:15

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Patrick Beilby

2019-07-11 20:39:21

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Sameera Ratnaweera

2019-07-11 20:02:51

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Allan Banh

2019-07-11 19:49:21

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Bruce Mansfield

2019-07-11 19:35:38

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Benjamin Devenish

2019-07-11 18:00:11

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Paul Axon

2019-07-11 17:42:59

Non Executive Director

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Jayrajsinh Jadav

2019-07-11 17:28:41

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Peter Lee

2019-07-11 17:23:23

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AussieChic

2019-07-11 17:05:58

Delphi

2019-07-11 16:14:31

Adam Bradley

2019-07-11 15:00:16

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Chad Stephens

2019-07-11 14:55:12

Angel Investor

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Ramy Attia

2019-07-11 14:00:41

Vikas Chacko

2019-07-11 13:35:25

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Bastian

2019-07-11 12:47:06

Adam Dayeian

2019-07-11 12:31:24

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Bos Financial Services

2019-07-11 11:53:58

NH

2019-07-11 10:59:14

Charles De Guzman

2019-07-11 10:39:46

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SFIT

2019-07-11 10:24:51

Stephen Rasmussen

2019-07-11 09:42:25

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Peter Kelso

2019-07-11 07:58:19

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Oscar Naval

2019-07-11 07:34:04

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Double88

2019-07-11 02:53:07

BWR-86

2019-07-11 00:19:34

Greg Tye

2019-07-10 23:03:19

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Andyzed

2019-07-10 21:55:35

Ramakrishna Akella

2019-07-10 21:54:46

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Clive Lung

2019-07-10 21:42:58

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Harpreet Kohli

2019-07-10 21:02:38

Ben Pearlman

2019-07-10 20:54:54

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Daniel Russell

2019-07-10 19:59:21

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12312

2019-07-10 18:56:26

Kingsway

2019-07-10 18:45:42

Henrica Archer

2019-07-10 16:32:49

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Brett Archer

2019-07-10 15:22:51

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sian

2019-07-10 15:09:14

Tim K Dean

2019-07-10 14:58:21

CEO & Founder

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Nick Saunders

2019-07-10 12:04:40

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Bharan

2019-07-10 11:54:00

Vivienne D Jagger

2019-07-10 06:57:41

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Waltraud Wightman

2019-07-10 05:44:59

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Melissa Murcott

2019-07-09 13:37:33

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Anthony Meehan

2019-07-09 11:45:07

Accountant

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LM

2019-07-08 22:30:16

Nizar Bustani

2019-07-05 16:36:18

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Alexander Bongers

2019-07-04 12:11:16

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RAZE

2019-07-03 13:07:23

KO

2019-07-02 15:14:31

ItsMe

2019-07-01 21:24:05

Michael Lawrence

2019-07-01 15:42:45

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ED CHEN

2019-06-30 23:30:46

investor

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Ant

2019-06-30 18:40:00

Hubsy Trubsy

2019-06-30 12:00:32

Mark Brennand

2019-06-30 11:29:04

Head of IT at Infoview

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Sean Brown

2019-06-30 10:34:37

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Robert Nathan

2019-06-26 13:19:21

CEO

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Phil Buckland

2019-06-25 22:44:35

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Titus

2019-06-23 19:45:49

Nikolas Kraljevic

2019-06-23 09:57:41

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Linelle Tom

2019-06-23 00:37:04

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Fernando Goh

2019-06-22 00:18:00

Operations Manager

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Charith Seneviratne

2019-06-21 23:31:15

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Simon R Collins

2019-06-21 16:05:29

Senior Process Engineer, Area 3 Process Technical and Support - South32 Worsley Alumina

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Daniel Polack

2019-06-21 15:58:07

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Elliot Hunt

2019-06-21 10:53:09

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17

2019-06-21 09:37:30

once

2019-06-21 01:18:14

Salman Rahman

2019-06-20 23:27:28

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Tim Levy

2019-06-20 12:04:39

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Kelan Luecke

2019-06-20 10:29:12

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Noel Mathews

2019-06-20 10:01:17

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hd

2019-06-19 22:21:03

Andrew Yuen

2019-06-19 21:14:08

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Ashlee Leigh

2019-06-19 21:01:46

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Tech9 Trading

2019-06-19 20:59:18

Nigel Parry

2019-06-19 20:19:27

Angel investor

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Colin Hill

2019-06-19 19:54:12

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F

2019-06-19 18:13:22

InvestorX

2019-06-19 17:26:35

Hilda Balman Kang

2019-06-19 16:55:09

Bank Manager | embracing modern banking

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Neville Sutrin

2019-06-19 16:50:26

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SMSF

2019-06-17 14:14:11

Penny

2019-06-16 22:55:36

Phil Hopper

2019-06-16 22:13:57

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Ashley Wragg

2019-06-15 19:18:21

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JLM

2019-06-15 18:34:06

Investek

2019-06-15 18:31:05

aromaxa

2019-06-15 15:51:26

Andrew Rankin

2019-06-15 15:23:57

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Drew & Anne

2019-06-15 15:19:59

Kyle Su

2019-06-15 12:22:11

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DobbyElf

2019-06-15 11:33:49

Christopher O'Brien

2019-06-14 20:50:30

Investor

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Stephen Breen

2019-06-14 16:12:41

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Pritpal Lohat

2019-06-14 15:51:20

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Andrew Terry

2019-06-14 14:48:37

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sc

2019-06-14 12:09:38

Robert Thorley

2019-06-14 10:56:29

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Jordan Belfort

2019-06-14 10:31:36

Abby

2019-06-14 09:15:06

Matt

2019-06-14 09:07:17

Thomas van Veghel

2019-06-14 08:54:33

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Petar Ilic

2019-06-14 06:15:34

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James Jeffrey Kiernan

2019-06-13 23:14:25

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Henry Ng

2019-06-13 21:52:50

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waz

2019-06-13 20:42:41

Rodney Hopkins

2019-06-13 18:35:36

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Bianca Harman

2019-06-13 18:22:14

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SH

2019-06-13 18:20:33

Julian Cook

2019-06-12 18:34:15

Head of Marketing

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Justin

2019-06-07 17:55:00

Michael Illenberger

2019-06-04 13:07:52

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James

2019-06-04 05:52:07

Stephen Pankhurst

2019-06-01 20:54:53

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Suki

2019-05-31 12:39:50

Andrew Chick

2019-05-17 23:07:08

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Christian Rogers

2019-05-17 17:32:41

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