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.
 Logo used from November 2023 | |
| Tiimely Pty Ltd | |
| Formerly | Tic:Toc, Tic:Toc Home Loans |
| Company type | Private |
| Industry | Platform technology, Financial technology, Financial services |
| Founded | 2015..[1] |
| Headquarters | Adelaide, South Australia, Australia |
Area served | Australia |
Key people | Anthony Baum (Organizational founder and CEO) |
| Products | Platform technology, Financial technology, Automation technology |
Number of employees | 149 |
| Website | tiimely.com www.tiimelyhome.com.au |
History
editTiimely 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]
References
edit- ^ a b c 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.
- ^ Fedorowytsch, Tom (11 July 2017). "SA jobs: Tic Toc online home loans to add 200 new Adelaide workers". ABC News. Retrieved 12 May 2021.
- ^ Bennett, Tess (16 August 2017). "Tic:Toc Wants To Bust The Big Bank Myth About Online Home Loans". Which-50. Retrieved 12 May 2021.
- ^ Whitten, Richard (26 February 2019). "Bendigo speeds up home loans with help from Tic:Toc". Finder. Retrieved 12 May 2021.
- ^ a b Eyers, James (22 April 2021). "Aussie takes on big four with digital mortgages". Australian Financial Review. Retrieved 12 May 2021.
- ^ "Making home loans faster, smarter and simpler". Tic:Toc. Retrieved 12 May 2021.
- ^ Bolza, Miklos (11 July 2017). "Fintech launches with 22-minute home loan". Australian Broker. Retrieved 12 May 2021.
- ^ 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.
- ^ a b Eyers, James (30 July 2018). "Digital home-loan play Tic:Toc raises funding from Genworth, La Trobe". Australian Financial Review. Retrieved 12 May 2021.
- ^ a b "Bendigo Bank customers to benefit from instant home loan tic of approval". Bendigo Bank. 1 March 2019. Retrieved 12 May 2021.
- ^ Eyers, James (5 February 2020). "Tic:Toc launches 'responsible-lending-as-a-service'". Australian Financial Review. Retrieved 12 May 2021.
- ^ "Tic:Toc taps ASX for chairman, takes aim at big four". Australian Financial Review. 2021-11-16. Retrieved 2023-01-10.
- ^ "IAG backs Tic:Toc in $54m raise to disrupt insurance". Australian Financial Review. 2022-12-15. Retrieved 2023-01-10.
- ^ "Up Home: Everything you love about Up, in a home loan". Up - Upgrade your banking. Retrieved 2023-05-02.
- ^ "Digital mortgages race picks Up with Tic:Toc". Australian Financial Review. 2022-08-21. Retrieved 2023-05-02.
- ^ Kane, Annie (2023-02-07). "Home loan offering takes off at Qantas". www.mortgagebusiness.com.au. Retrieved 2023-02-08.
- ^ Suljanovic, Adrian (2023-03-14). "Tic:Toc obtains CDR accreditation". www.mortgagebusiness.com.au. Retrieved 2023-03-27.
- ^ "NRMA to offer home loans funded by Bendigo Bank". Australian Financial Review. 2023-10-25. Retrieved 2023-10-26.
- ^ "Timely rebrand for Bendigo Bank's home lending platform". 2023-11-14.
- ^ Aubrey, Kate (2023-11-13). "Tic:Toc rebrands to Tiimely Home". www.mortgagebusiness.com.au. Retrieved 2023-11-13.
- ^ "Tiimely - Certified B Corporation - B Lab Global". www.bcorporation.net. Retrieved 2023-11-16.