Australian FinTech company profile #149 – GetReminded
1. Company Name: GetReminded
2. Website: www.getreminded.com
3. Key Staff & Titles:
David Wareing – Director, Strategy and Finance
Tim Nicholas – Director, Marketing and Operations
4. Location(s):
The GetReminded smartphone app is available in Australia, New Zealand, USA, UK, Ireland and Norway. The company’s head office is in Sydney, NSW.
5. In one sentence, what does your fintech do?:
GetReminded allows consumers to take control of their recurring financial commitments by giving them more time to shop around to make savings – instead of simply paying at the last minute the invoice/quote sent by the incumbent supplier.
6. How / why did you start your fintech company?:
GetReminded began after we realised there was a consumer problem that needed solving: help consumers avoid paying the ‘loyalty tax’ on recurring services like insurance, energy, mobile, subscriptions, internet, financial services and documents like car rego, licence and passport. The founders came up with a simple solution – an app that sends timely alerts before the due date to give consumers the time and means to easily shop around for the best offer, or pay on time to avoid fees/penalties.
7. What is the best thing your company has achieved or learnt along the way (this can include awards, capital raising etc)?:
Raised over $1m in angel funding, and now embarking on our next stage of growth via an equity crowdfunding campaign.
8. What’s some advice you’d give to an aspiring start-up?:
Build the barest minimum version of your idea and test it with real users. The traction you get, and responses, will give you the confidence to move forward and build a real business.
9. What’s next for your company? And are you looking to expand overseas or stay focussed on Australia?:
We have launched an equity crowdfunding campaign (visit www.onmarket.com.au/offers/getreminded-eoi to register interest) that will support our next stage of growth – build on our 50K strong AU user base and create an annual recurring revenue stream which in turn will fuel our international growth plans.
10. What other fintechs or companies do you admire?:
Brighte – in the solar industry this fintech is miles ahead in terms of helping consumers transition to clean energy.
Afterpay – cleverly took an old financing concept (lay-by) and made it relevant to today’s digital consumer ecosystem.
Raiz – a simple solution that helps anyone start investing with micro amounts of money.
11. What’s the most interesting or funniest moment that’s happened in your company’s lifetime?:
The story of how the 3 co-founders met is unique and serendipitous. Both Tim and Silje were passengers in an Uber that David was driving. The idea for GetReminded was sparked when David learnt that his retired parents had been overpaying on their energy for over 10 years as they were not aware of “recontracting” to get the latest price offer. David approached Tim to help develop a solution, then he met Silje and we asked her to join us.
