Debt payment start-up Credit Clear poaches OpenPay's CEO Simon Scalzo ahead of raise

Fintech payments technology start-up Credit Clear has poached the CEO of one of its start-up rivals as it prepares to embark on a $10 million capital raising push.

The company, which automates the debt collection process and facilitates customer communication over Facebook Messenger, SMS or email, has lured Simon Scalzo from “buy now pay later” platform OpenPay to lead the company.

Credit Clear launched in July and has been predominantly funded to date by its chairman and co-founder Mark Casey, a property developer who made $14 million from the sale of a sheep farm near Geelong.

Mr Casey started the business alongside SpotJobs co-founder Lewis Romano, saying it would make it easier for people to pay their debts.

“People traditionally get private-number phone calls or letters in the mail and digitising that process was at the core of Credit Clear,” Mr Romano said.

“We send you a note via SMS, email or an instant messenger such as Facebook or Viber and then you can make the payment immediately. You can action it straight away … and you also get the flexibility to pay by instalments.”

Despite only launching a few months ago, Credit Clear claims to have already scored contracts with some of the country’s largest financial institutions, telecommunication, utilities, government agencies and property agents. However, when asked they declined to name any customers.

Mr Scalzo joined Credit Clear after less than a year at Afterpay rival Openpay, which has just itself closed a $10 million raise and postponed its earlier IPO plans.

Prior to OpenPay he had also been the national head of retail at accounting firm BDO.

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Source: Debt payment start-up Credit Clear poaches OpenPay’s CEO Simon Scalzo ahead of raise | afr.com