Swoop, the fast-growing finance platform that enables small and medium sized businesses to access funding, is spreading its wings and coming to Australia after its initial runaway success in the UK and Ireland.
The company has appointed Tim Brown as CEO of its new Australian venture, its first international expansion.
Known for his achievements in launching and growing new businesses, Tim who was previously CEO of Ezifin Financial Services Ltd, CEO of Vow Financial and Chair of the Mortgage Finance Association of Australia (2013-15) will be responsible for the company’s growth in the Australian and New Zealand markets.
Tim commented: “I’m excited to be developing a business that has already proved its worth in the UK and Ireland, and I’m certain that Swoop will be invaluable to Australian companies that are looking to raise or save money. I look forward to growing our team with technical and funding specialists.”
Launched in the UK and Ireland in 2018, Swoop provides access to funding across equity, grants and loans as well as identifying how businesses can make savings, in essence operating as a single and integrated hub for financial management and planning. Functioning as a virtual chief financial officer, Swoop helps thousands of businesses achieve better financial health.
Swoop has much to offer across Australia, where small businesses are the backbone of the economy and there is a strong entrepreneurial spirit. Although Australia has a vigorous and growing alternative finance marketplace, it is fragmented and difficult to navigate. Swoop’s platform will provide the cohesion and focus that is lacking, helping businesses to find the best options now that they have more choice thanks to the arrival of open banking in 2020.
Geography is another obstacle that Swoop overcomes. Because Swoop is a fintech platform with a powerful search algorithm, it provides everything in one place. Businesses can receive all the financial resources, information and advice they need right at their front door. No travel, no fruitless searches, no time-wasting: everything is filtered to the precise requirements of the business, whatever its location, whatever the sector.
Tim added: “Another benefit to the Swoop platform is that, until now, there have been few opportunities to introduce Australian businesses to global investors in a smooth and structured way. Swoop eases the path to finance and makes connections that would otherwise go undiscovered”.
Scott Patterson, Senior Fintech Market Advisor for Enterprise Ireland who is supporting Swoop’s entry into Australia commented: “We are delighted that Swoop’s global expansion is commencing in the Australian market, which follows success in the UK and Ireland where they have forged a market-leading reputation for simplifying and supporting SME access to credit. Swoop’s innovative platform is a game-changer for Australian SMEs”.