Moneycatcha strides forward with two new board appointments and a fresh funds injection
Moneycatcha, the Perth-based fintech that delivers open banking solutions to mortgage brokers under the ‘Stryd’ brand, is accelerating growth plans to capitalise on renewed momentum in Australia’s Consumer Data Right (CDR), boosted by two key board appointments and $1.5 million in fresh funds.
Experienced financial services leader, and Judo Bank co-founder, Tim Alexander has joined Moneycatcha’s governance board as a Non-Executive Director.
Also joining the board, as Non-Executive Director and Chair, is Lawrie Tremaine, who has recently retired from Origin Energy after serving as its Chief Financial Officer for seven years.
Moneycatcha’s Founder & CEO Ruth Hatherley welcomed the two new board members, saying: “Tim and Lawrie are key appointments to the Moneycatcha board as they bring an incredible depth and breadth of experience in the finance and energy industries respectively. They are joining at a time when we are accelerating our growth plans in response to market opportunities, backed by a fresh funds injection from investors who supported our recent capital raise.”
Moneycatcha has recently completed a $1.5 million capital raise, managed by corporate advisors Maiden Capital, and strongly supported by existing shareholders and a number of new investors. The funds will be used to accelerate growth plans and capitalise on CDR’s renewed momentum.
Australia’s CDR has been live in open banking since 2020 and open energy since 2022. Minister Stephen Jones has confirmed that non-bank lending will join the data sharing regime from 2025 onwards and has stipulated consumer lending – including home loans – and energy switching as priority use cases.
“The role of the mortgage broker is changing towards being a trusted credit adviser who makes the borrower’s risk profile as attractive as possible for the right lender,” said Ms Hatherley. “This might extend to recommending an app for better budgeting or saving money on energy bills,” she explained.
“Lawrie and Tim’s backgrounds are perfect for Moneycatcha given our vision to deliver open data technology to brokers, as well as aggregators and lenders, and unlock more benefits for everyone, especially the consumer,” she said.
Commenting on this new role, Tim Alexander said: “Fintech is a vibrant space that is driving competition in the financial services market by fostering product innovation and streamlining time-consuming processes. I look forward to making a valuable contribution to Moneycatcha’s ongoing success.”
Lawrie Tremaine mirrored Mr Alexander’s sentiments, saying: “Moneycatcha’s vision and mission are compelling and align with my own commitment to do better for people and planet by unlocking the power of open data technology.”
About Moneycatcha
Moneycatcha was founded in 2015 by Perth-based entrepreneur Ruth Hatherley who saw the opportunity for fintech to change the way institutions, like banks and other mortgage lenders, originate home loans and comply with regulatory reporting obligations back to APRA and ASIC.
Today, Moneycatcha’s flagship product is ‘Stryd,’ an open banking-enabled fintech platform designed for home loan lenders and mortgage brokers. Stryd enables faster identification of new growth potential through trusted risk and loan data services, utilising a unique holistic approach to storing and categorising mortgage data in a ‘Home Loan Repository.’ It works seamlessly with existing technology stacks and enables improved lending risk assessment and pricing for responsible loan book growth. The platform also empowers organisations to meet fast-changing regulatory compliance requirements, such as Target Market Determination (TMD) under the Product Design & Distribution Obligations (DDO) (RG 274).
More information: Please visit www.moneycatcha.com
