A Sydney-based Q&A advice startup has secured the backing of former Nine Network chief revenue officer Peter Wiltshire as it looks to expand around the world.
Wiltshire has also joined the advisory board of Echofied, the latest venture from Wizard Home Loans co-founder Paul Ryan, after “heavily investing” in the startup.
The Echofied web and mobile app connects users with industry experts to answer a range of questions in fields like home loans, real estate and superannuation.
Ryan says he decided to reach out to Wiltshire to help guide the startup through its rapid growth trajectory.
“I’ve admired what Channel Nine have done with their business over the past 10 years,” Ryan says.
“I reached out to him and he liked what Echofied stood for and I liked a couple of ideas he had. He’ll bring enormous value in terms of his business acumen, media and digital world advice, a second opinion and accountability to the business.”
He says he wants Echofied to be the “number one resource and platform” for consumers to ask questions about anything and get expert answers.
“It’s a peer-to-expert Q&A platform where consumers are liberated and are able to ask the questions they’ve been wanting to ask,” Ryan says.
“Many people are time poor, they’re not sure who to ask and sometimes they’re just looking for a second opinion and many people get intimated by the process.
“Every professional on the platform has to register and acknowledge their expertise before they can answer any questions.”
While the platform is currently free for all users, he says the startup is planning to introduce premium options for experts and lead generation capabilities.
“Echofied allows consumers to get to know and build relationships with industry experts and lets industry experts build connections with wider groups,” Ryan says.
“There’s no platform out there where consumers can interact online in real-time with an expert.”
Echofied is planning to rapidly expand across Australia as well as in international markets including the UK, Canada and Israel in the next year, with an aim to bring in 60,000 users and 10,000 experts.
“You don’t have to be asking questions to participate – we still get visitors to the site who can be reading other people’s questions and answers of experts,” Ryan says.
Wiltshire says he was draw to the startup because of its huge potential and the gap in the market it is targeting.
“In many ways Echofied is a game-changer because there’s nothing else like it on the market,” Wiltshire says.
“There’s a lot to like about how this business is working and is positioned for growth and scale.”
For other founders looking to attract high-profile advisors to their startup, Ryan says their drive has to be “absolutely unwavering”.
“If you’re asking questions you’re arming yourself with more information to help you make better decisions,” he says.
“Continually ask questions, aim to meet many people, be patient and take advice on board.”
Dinushi is a journalist at SmartCompany.
