One Click Group’s fintech platform One Click Life surpasses 100,000 users
ASX-listed One Click Group has announced its fintech platform One Click Life has continued exceptional recent growth with its registered user base now surpassing 100,000 users, a massive increase of ~37% over the last six weeks and ~28% in July alone.
The user growth the One Click Life platform is currently experiencing is correlating to a growth in revenue on the platform. This is resulting in a material improvement in revenue compared to the prior corresponding period with revenues for calendar year 2023 (financial year) already exceeding total 2022 revenue of $1.6 million.
Growth in user numbers has been increasing faster than prior years due to a consistent, funded and maturing marketing campaign. Importantly there is still room to grow the impact of our marketing campaigns in future years providing an important and exciting growth prospect for the platform in the near and longer term. With the company’s products being essentially completely online, the business is highly scalable with minimal cost increases needed to support current revenue growth.
The continuing growth in user numbers this year continues to demonstrate the growing demand for digital financial services in Australia and specifically the excellent penetration for the One Click Life Platform.
The significant growth in user numbers creates optionality for the platform to generate revenue from both its core tax product, and other products available on the One Click Life platform, such as One Click Mortgages. The number of mortgage applications received on One Click Mortgages has continued to increase month-on-month, with revenue generated from this product continuing to grow.
One Click Life takes complicated financial products and conquers the complexities to create simple financial products capable of being easily consumed via a mobile phone.
Managing Director Mark Waller commented, “Accelerating through 100,000 registered users on the One Click Life platform is a massive achievement for the business. This has come quicker than we expected and presents a huge opportunity for the business.
“Importantly we are seeing this growth in users directly correspond to a growth in revenue on the platform. The growth in revenue is largely coming from the tax products including the Next Day Refund tax product, however the contribution from our Mortgages product is also growing.”
