Though its name predates the Chinese social media behemoth’s existence, Tic:Toc has caved and will now go by Tiimely in a move that the founder believes better represents the company’s offering.
Tiimely today also launched its newest product – an in-house broker to provide exclusive access to the company’s own home loan product Tiimely Home and a service comparing mortgage options from more than 30 other lenders.
Founder and CEO Anthony Baum told InDaily that when the business started in 2017 as Tic:Toc it was “first and foremost a home loan business”. Through a rebrand, Tiimely hopes to define its new role as a ‘platform technology company’ – one that delivers clients AI-driven tech solutions that can be integrated into any financial assessment process.
“To rebrand and positions us first and foremost as a platform company we saw as a really good opportunity,” Baum said.
“Notwithstanding the fact that we were the first in 2017 to use the name, there was confusion and so we saw the opportunity to really articulate what we’ve become which is an enterprise technology company.
“It’s great that we can continue to be one of the companies that is aspiring to build world-leading proprietary technology out of our state, and this gives us an opportunity to extend our engagement beyond Australia with clarity of name.”
Baum said 55 per cent of Tiimely’s revenue now comes from the enterprise technology side of the business, “and that’s growing at a really pleasing rate”. The company’s clients now include Bendigo Bank’s BEN Express, digital bank Up’s home loan business, Qantas Money Home Loans and NRMA Home Loans.
“We expect that ultimately our enterprise business will continue to grow. Now it is the largest part of this business and that’s part of this name change,” Baum said.
“If you look at the mortgage vertical, around 3 per cent of the home loan market every month touches our platform across out business to consumer business.”
The company hopes to get an even bigger slice of the home loan market with its digital in-house broker service that connects Australians to a comparison site and Tiimely’s broker team.
“We firmly believe the interest of consumers and competition is the same; to provide greater choice, convenience and control,” Tiimely chief operating officer Richard O’Callaghan said.
“That’s why we’re now utilising our Tiimely platform technology so Tiimely Home customers can have a more transparent and seamless experience, no matter who the loan provider is.”
Tiimely’s rebrand comes after the company jumped up 18 spots to number 39 on the South Australian Business Index.
“We were really excited about that,” Baum told InDaily.
“We’re obviously very proud to be a South Australian-based business. We’re proud of our status in that index but we will not rest on our laurels and we’ll continue to strive to grow Tiimely so that we can rise through that table.
“I encourage everyone that aspires to be a Tiimley to make our job harder to rise through that index. We want to see lots and lots of fast-growing companies based here in South Australia. If Xero can be based out of Wellington in New Zealand, which is half the size of Adelaide, we should be capable of building numerous companies of that scale or larger.”
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