33. Plenti
Motivated by the belief that personal lending was slow, complicated, and of poor value, Plenti’s co-founders set out to build a financial services business with technology at the core.
Revenue: $53.12 million
Growth: 84.13%
Founders: Daniel Foggo (46), Glenn Riddell (35), Ben Milsom (35)
Head Office: Sydney
Employees: 161
Industry: Banking and financial services
Website: https://www.plenti.com.au
Year Founded: 2014
How it started
Motivated by the belief that personal lending was slow, complicated, and of poor value, Plenti’s co-founders set out to build a financial services business with technology at the core.
Aiming to offer customers faster, fairer loans with better value, the co-founders have since funded over $1.7 billion in loans.
Growth
After an initial struggle to meet the immense regulatory needs of ASIC, especially as a business with a new lending model, Plenti has seen significant growth across revenue and staff.
In the last year alone it added 55 new employees to the business, and between the 18-19 and 20-21 financial years the business increased revenue from $28 million to $53 million.
Where to next?
In September 2020, Plenti listed on the ASX, and at the time of writing, has a market capitalisation of $223 million.
Plenti’s co-founders say the market opportunity is enormous and they’re just getting started.
They’re aiming for market leadership across automotive, renewable energy and personal loans, and a loan book of $1 billion.
