Sydney Morning Herald

Bridging the cash flow divide for SMEs

At QuickFee, we help businesses handle cash flow concerns. Curious to learn how? Just check out this recent feature from The Sydney Morning Herald for a quick overview.

As Managing Director of Australia Bruce Coombes shared: “We basically bridge the gap between a service provider’s right to be paid today in full, and a client’s desire to pay over a period of time,” Coombes explains. “We’ve been doing this for 11 years. We’ve been providing this sort of finance long before [the advent of] buy now, pay later.”

In the media

The performance in March, April, and May 2022 positions QuickFee to finish FY22 with strong growth and an accelerated volume run-rate, putting QuickFee on a shortened pathway to profitability. This acceleration is driven by comprehensive improvements across the business, which are already delivering:

  • increased revenue yields and gross profit rates in its ACH and credit card products;
  • increased transaction volume, organic growth, higher average order values and net new sales; and
  • reduced costs of acquisition, operations and technology expenses commensurate with the completion of its proprietary payments platform, QUBE.

Australian Fintech – Jun 14th 2022

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Most average Australian households would struggle to pay more than $2,000 for unexpected but necessary services such as urgent home and vehicle repairs or dental work, according to a new Australian Household Threshold report.

News.net.au – Jun 8th 2022
 

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Consumer credit growth is being quickly matched by the spike in popularity of buy-now-pay-later among Australian consumers, as inflation rises and the cost of living hits households but regulations may be limiting the trend.

dynamicbusiness.com – Jun 3rd 2022

 

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“While there are payment methods that provide consumers with availability to meet their wants such as new clothes, there is also a significant need for solutions that cover higher value unexpected and essential costs and help mitigate their impact on household budgets.

“To help address these issues, we are now offering a custom solution for franchise businesses providing homeowner services, allowing consumers to access flexible payment plans over four, six, nine or 12 interest-free instalments.”

Australian Fintech – May 16th 2022

 

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Sydney start-up QuickFee has completed a $4.0 million capital raising and just launched a $500,000 share purchase plan to fund its growth plans and “achieve profitability”.

Accountants Daily – May 10th 2022

 

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Australian-listed payment solutions and service firm QuickFee has announced the successful completion of a $4.0 million share placement at an issue price of $0.10 cents per share to strategic, institutional, sophisticated and professional investors in a “strongly supported” capital raising.

IT Wire – May 10th 2022

 

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QuickFee have announced the successful completion of a A$4.0 million share placement at an issue price of A$0.10 per share to strategic, institutional, sophisticated and professional investors in a strongly supported capital raising. The placement was supported by new and existing institutional, family office and sophisticated investors.

Australian Fintech – May 9th 2022

 

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  • QuickFee (QFE) launches a capital raise program to raise $4.5 million for further growth to achieve profitability
  • The money will be used to increase scale in the US market, enhance its products, and to cover the costs associated with the capital raise
  • The company has completed a placement, raising $4 million through issuing 40 million shares at 10 cents each
  • In addition, QFE is seeking to raise $500,000 through a share purchase plan (SPP), issued on the same terms as the placement.
  • Shares are trading flat today at 10 cents each
The Market Herald – May 9th 2022

 

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  • Earlier this year, payment solutions provider, QuickFee expanded its business to support franchises with a new buy now pay later (BNPL) solution, on the back of a partnership with Jim’s Group.

    Now QuickFee has announced a deal with Bob Jane T-Mart, which has 30 stores around the country, allowing Jim’s franchisees to purchase tyres for their vehicles on a Jim’s payment plan.

Retail Biz – May 2th 2022

 

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ASX-listed fintech, QuickFee, has launched its proprietary merchant acquiring and payment processing platform, QUBE, and is starting to reap benefits from it.

QuickFee provides online payment solutions and loan origination offerings to professional, commercial and personal services providers. It operates in the United States and Australia.

rfigroup.com – March 7th 2022

 

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Payment solutions provider, QuickFee has expanded its business to support franchise operations with a new buy now pay later (BNP)L solution specifically designed for larger purchases.

The Franchise Payment Services BNPL solution, which can be white labelled, enables a range of flexible payments of up to 12 monthly instalments, and unlike many other BNPL options, it uses people’s existing credit or debit cards.

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US-based fintech QuickFee has expanded for franchise services and enables franchisees to get paid up front while giving the customers the ability to Buy Now, Pay Later.

 

The Franchise Payment Services BNPL solution, which can be white labelled, enables a range of flexible payments of up to 12 monthly instalments, and represents a way for franchisees to accept debit and credit card payments.

 

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The first half of the 2022 financial year was a period of stronger performance for payments innovator QuickFee, with continued growth in the US in both payments and lending, and lending in Australia continuing its recovery.

The company ended the half with momentum, achieving a record quarter in Q2 in the US in its core professional services segment.

It is now seeing a return to pre-COVID-19 lending levels, but with accelerated payments volume and larger transaction sizes, which positions QuickFee well heading into the second half.

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Labour Solutions Australia, one of the country’s leading workforce providers, has appointed QuickFee to deliver flexible payment solutions for businesses recruiting new staff and using contract labour.

The new partnership will give Labour Solutions Australia’s customers greater flexibility by spreading the cost of engaging and hiring employees through Labour Solutions Australia over four instalments, via a credit-card based payment plan.

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QuickFee has integrated its payments and payment plan functionality with Xero. CEO Bruce Coombes explains that QuickFee (QFE) now sits on the Xero (XRO) ‘marketplace’. The advantage is its ability to allow real-time upload of invoices and payments, lifting productivity and accuracy at the bookkeeper level. QuickFee remains in partnership with Splitit, allowing clients to spread payments out in instalments like any other BNPL service. Of course, investors need to know what’s ahead, and Bruce has big plans for QuickFee’s future.

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