Tiimely Pty Ltd
Tiimely Pty Ltd
FormerlyTic:Toc, Tic:Toc Home Loans
TypePrivate
IndustryPlatform technology, Financial technology, Financial services
Founded2015..[1]
HeadquartersAdelaide, South Australia, Australia
Area served
Australia
Key people
Anthony Baum (Organizational founder and CEO)
ProductsPlatform technology, Financial technology, Automation technology
Number of employees
149
Websitewww.tiimely.com

Tiimely, formerly known as Tic:Toc, is an Australian platform technology company and non-bank home lender based in Adelaide, South Australia.[2] Founded in 2015, but launched to the public in July 2017 as Tic:Toc, Tiimely offers Software-as-a-Service, and automated digital home loans to consumers through their retail brand, Tiimely Home.[3][4][5] Bendigo & Adelaide Bank are a major shareholder, owning a 27 percent stake in the business.

History

Tiimely was founded in 2015 by Anthony Baum, and secured seed funding in 2016 from Bendigo & Adelaide Bank, who also provide the funds for Tiimely’s home loans.[1][6] In March 2017, the company closed its Series A funding round, securing A$4.1 million in further funds from Bendigo & Adelaide Bank.[1]

The company officially launched its home loan offering in July 2017.[7] In December 2017, Tiimely announced an expansion of services to include Tasmania, officially expanding their serviceable area to cover all states of Australia.[8]

Tiimely closed a Series B funding round in July 2018, raising A$11.5 million.[9] The raise was led by La Trobe Financial and Genworth Financial’s Australian arm, Genworth Mortgage Insurance Australia.[9]

In November 2018, Tiimely announced it would offer their technology to Bendigo & Adelaide Bank as part of their first enterprise partnership.[10] In March 2019, Bendigo Bank launched Bendigo Express, a digital home loan white-labelled under the Bendigo Bank brand.[10]

On February 5 2020, Tiimely launched its first software offering, XAI Validate, which uses artificial intelligence and machine learning to automate the validation of customer data.[5][11] XAI Validate was rebranded to Xapii in conjunction with the November 2023 rebrand.

Yasmin Allen was appointed chairman of the board in November 2021.[12]

Tiimely closed a Series D funding round in December 2022, raising A$54 million. The raise was led by Regal Funds Management and is made up of A$30 million raised in February, with a further A$24 million raised from existing investors Bendigo & Adelaide Bank and IAG Firemark Ventures .[13]

Up announced early access for its first home loan product, Up Home, in July 2022.[14] The Up Home offering is built on Tiimely technology and funded by Bendigo and Adelaide Bank.[15]

Qantas Money Home Loans launched in early February 2023,[16] and is a white-label mortgage product of Tiimely and funded by Bendigo and Adelaide Bank.

Tiimely was approved as an unrestricted accredited data recipient by the Australian Competition & Consumer Commission under the Consumer Data Right in March 2023.[17]

NRMA launched their new market product, NRMA Home Loans, in October 2023,[18] a white-label mortgage product of Tiimely and funded by Bendigo and Adelaide Bank.

Tiimely announced the rebrand of their corporate and enterprise business from Tic:Toc to Tiimely in November 2023,[19] and rebranded their retail brand, Tic:Toc Home Loans to Tiimely Home.[20]

Tiimely achieved accreditation as a certified B Corporation (certification) in November 2023 [21] exemplifying its commitment to catalysing positive transformation within Australia's financial services sector.

References

  1. 1 2 3 Palmer-Derrien, Stephanie (1 August 2018). "Fintech startup Tic:Toc raises $11.5 million to take the hassle out of home loan approvals". Smart Company. Retrieved 12 May 2021.
  2. ↑ Fedorowytsch, Tom (11 July 2017). "SA jobs: Tic Toc online home loans to add 200 new Adelaide workers". ABC News. Retrieved 12 May 2021.
  3. ↑ Bennett, Tess (16 August 2017). "Tic:Toc Wants To Bust The Big Bank Myth About Online Home Loans". Which-50. Retrieved 12 May 2021.
  4. ↑ Whitten, Richard (26 February 2019). "Bendigo speeds up home loans with help from Tic:Toc". Finder. Retrieved 12 May 2021.
  5. 1 2 Eyers, James (22 April 2021). "Aussie takes on big four with digital mortgages". Australian Financial Review. Retrieved 12 May 2021.
  6. ↑ "Making home loans faster, smarter and simpler". Tic:Toc. Retrieved 12 May 2021.
  7. ↑ Bolza, Miklos (11 July 2017). "Fintech launches with 22-minute home loan". Australian Broker. Retrieved 12 May 2021.
  8. ↑ North, Martin (18 December 2017). "Tic:Toc expands to Tasmania, as NSW investors rush to purchase in Hobart". Digital Financial Analytics. Retrieved 12 May 2021.
  9. 1 2 Eyers, James (30 July 2018). "Digital home-loan play Tic:Toc raises funding from Genworth, La Trobe". Australian Financial Review. Retrieved 12 May 2021.
  10. 1 2 "Bendigo Bank customers to benefit from instant home loan tic of approval". Bendigo Bank. 1 March 2019. Retrieved 12 May 2021.
  11. ↑ Eyers, James (5 February 2020). "Tic:Toc launches 'responsible-lending-as-a-service'". Australian Financial Review. Retrieved 12 May 2021.
  12. ↑ "Tic:Toc taps ASX for chairman, takes aim at big four". Australian Financial Review. 2021-11-16. Retrieved 2023-01-10.
  13. ↑ "IAG backs Tic:Toc in $54m raise to disrupt insurance". Australian Financial Review. 2022-12-15. Retrieved 2023-01-10.
  14. ↑ "Up Home: Everything you love about Up, in a home loan". Up - Upgrade your banking. Retrieved 2023-05-02.
  15. ↑ "Digital mortgages race picks Up with Tic:Toc". Australian Financial Review. 2022-08-21. Retrieved 2023-05-02.
  16. ↑ Kane, Annie (2023-02-07). "Home loan offering takes off at Qantas". www.mortgagebusiness.com.au. Retrieved 2023-02-08.
  17. ↑ Suljanovic, Adrian (2023-03-14). "Tic:Toc obtains CDR accreditation". www.mortgagebusiness.com.au. Retrieved 2023-03-27.
  18. ↑ "NRMA to offer home loans funded by Bendigo Bank". Australian Financial Review. 2023-10-25. Retrieved 2023-10-26.
  19. ↑ "Timely rebrand for Bendigo Bank's home lending platform". 2023-11-14.
  20. ↑ Aubrey, Kate (2023-11-13). "Tic:Toc rebrands to Tiimely Home". www.mortgagebusiness.com.au. Retrieved 2023-11-13.
  21. ↑ "Tiimely - Certified B Corporation - B Lab Global". www.bcorporation.net. Retrieved 2023-11-16.
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