Australian FinTech company profile #153 – Advice Revolution
1. Company Name: Advice Revolution
2. Website: www.advicerevolution.com.au
3. Key Staff & Titles:
Shaun Green – CEO
Adrian Patty- CTO
Helen Thom – Head of Sales
Robert Ong – Lead Engineer
4. Location(s): Sydney
5. In one sentence, what does your fintech do?:
Advice Revolution reduce the time and cost to deliver financial services by improving data management and integration capability.
6. How / why did you start your fintech company?:
We were building a wealth management practice at a time when costs were going up. In doing this we identified inefficiencies in capturing client information and a lack of standardisation of the data set across the industry. We decided to solve this problem at the source and pivoted to a tech business, that helps advisers capture information from their clients.
7. What is the best thing your company has achieved or learnt along the way (this can include awards, capital raising etc)?:
Simple design and flexibility are very important to our financial services professional clients. Integrations capability is the engine room that drives a niche app. Integration quality is lacking in many parts of the financial services ecosystem and our investment in this capability has become a key differentiator in the market.
8. What’s some advice you’d give to an aspiring start-up?:
Make sure you have a co-founder that balances your own style. This will dramatically increase your chances of success and helps to push through the many barriers.
Make sure you care enough about solving the problem, otherwise it will be harder to hold on when things get difficult. You need some irrational drivers that keep you on the path even if the probability of success is not clear.
Always assume that establishing the business and generating revenue will be much harder and longer than you expect.
9. What’s next for your company? And are you looking to expand overseas or stay focussed on Australia?:
We’ve got a roadmap of problems to solve and refine in Australia, and we see a clear pathway to the US financial advice tech market. The problems we’re solving in Australia are also in existence over there. Nailing the solution for our clients in Australia is our key focus, but everything is being designed for a future US entry.
10. What other fintechs or companies do you admire?:
Atlassian and Zapier. Atlassian is an Aus grown success which grew without funding for many years and showed how well product lead growth can work. Zapier is also an example of lean product lead growth, having raised the least out of the largest privately held businesses in existence. Zapier is of particular interest to us because of its focus on solving the integration problem between saas products at scale. It’s enabled apps to niche more by eliminating the cost to integrate into the existing saas ecosystem. Zapier has also enabled small businesses to efficiently access and tailor integrations without needing a development team.
11. What’s the most interesting or funniest moment that’s happened in your company’s lifetime?:
Our pivot from a services business to a software business while having no experience in delivering tech. When you look back it was a pretty outrageous decision that was very challenging to deliver, but has been enormously rewarding.
Advice Revolution are currently undertaking a Seed Raise.
Any investor interest can be expressed to Advice Revolution CEO, Shaun Green at [email protected]
Any investor interest can be expressed to Advice Revolution CEO, Shaun Green at [email protected]
