{"id":45299,"date":"2023-10-20T15:42:28","date_gmt":"2023-10-20T15:42:28","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/perth-startup-kikka-capital-secures-2-million-in-funding-and-lures-a-big-corporate-player-as-it-enters-a-new-growth-phase-startupsmart\/"},"modified":"2023-10-20T15:42:28","modified_gmt":"2023-10-20T15:42:28","slug":"perth-startup-kikka-capital-secures-2-million-in-funding-and-lures-a-big-corporate-player-as-it-enters-a-new-growth-phase-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/perth-startup-kikka-capital-secures-2-million-in-funding-and-lures-a-big-corporate-player-as-it-enters-a-new-growth-phase-startupsmart\/","title":{"rendered":"Perth startup Kikka Capital secures $2 million in funding and lures a big corporate player as it enters a new growth phase – StartupSmart"},"content":{"rendered":"
\"Kikka<\/div>\n

After securing a $2 million funding round and appointing a high-profile former corporate player to chair its board Perth startup Kikka Capital is set to enter a new phase of rapid growth and development.<\/p>\n

In the four years since its launch, the fintech has become one of the country\u2019s fastest growing online lending platforms for small businesses, having provided more than 1000 lines of credit.<\/p>\n

Kikka Capital\u2019s lending model is based on the unsecured credit line offering of its US counterpart Kabbage, which has lent more than $US1.6 billion to 100,000 businesses since 2009.<\/p>\n

The next phase of growth<\/h3>\n

The startup is yet to hit a default and is constantly learning along the way, Kikka Capital founder and CEO David Brennan says.<\/p>\n

\u201cWe\u2019re going through a phase of learning what is necessary to scale the business and grow it,\u201d Brennan tells StartupSmart<\/em>.<\/p>\n

The platform\u2019s proprietary tech enables it to assess applications in as quick as seven minutes thanks to being able to analyse a businesses\u2019 current cash flow in real-time.<\/p>\n

Following deals with Qantas, eQay and the Small Business Association of Australia, the fintech has recently secured $2 million in funding from FlexiGroup.<\/p>\n

Brennan says it took four months to make both sides comfortable about making the deal.<\/p>\n

\u201cThe most important thing is working out where the synergies lie,\u201d he says.<\/p>\n

\u201cBefore working with someone it\u2019s good to understand what the other side offer and if there are opportunities to fill a gap or enhance the product offering.<\/p>\n

\u201cFlexiGroup has a long history of SME lending. We have a different product to theirs but the synergy is it grows their product outside of secured lending into unsecured lines of credit.\u201d<\/p>\n

Luring a corporate player<\/h3>\n

Kikka Capital has also just appointed former Macquarie Capital executive director Justin Mannolini as chair of its board.<\/p>\n

Mannolini is a founding investor in the startup and will help guide it through this next phase of growth.<\/p>\n

\u201cWith Justin coming on board it\u2019s a real sign that we have a business and product that is attracting not only startups and tech but also traditional bankers,\u201d Brennan says.<\/p>\n

\u201cHe takes a diligent and structured approach to how we should be running the business. He\u2019s a lawyer but he\u2019s incredibly entrepreneurial so he sees the opportunity.\u201d<\/p>\n

As chairperson, Mannolini says his fundamental role will be supporting the venture in spotting and prioritizing growth and funding opportunities.<\/p>\n

\u201cGrowth of alternative lending will be a great outcome not just for the sector but for Australia as a whole, as SMEs will gain greater access to the capital they need to grow,\u201d Mannolini says.<\/p>\n

Follow StartupSmart on<\/em> Facebook,<\/em> Twitter,<\/em>LinkedIn <\/em>and <\/em>SoundCloud.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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