50% month-on-month revenue growth, expanding team and China

29 February 16

"Squirel Ltd (“Squirel” or the “Company”) is pleased to announce the appointment of Fiona Hong a senior financial services professional with 20 years’ experience – that spans debt markets (both buy and sell side, corporate bonds to esoteric securitisation) and equity markets (funds management, M&A) as our Executive Director, Product.

Fiona is mandated to design and build a vertically integrated suite of products including in-house SMSF lending, what we believe will be an Australian first – a peer to peer SMSF loan product and a next generation SMSF insurance product designed to provide SMSF members with group insurance rates and features usually afforded to industry super fund or employers with thousands of members.

Damien Linn, Executive Chair of Squirel Ltd said “there was a great deal of competition from the big end of town to attract Fiona and I am so thrilled she took a chance of Squirel. Together with our rapidly expanding team (21 at present) and supportive Board I am confident we have the right people, in the right positions to develop and launch our vertically integrated suite of profitable, consumer aligned products and services”

While the Company continues to invest in diversifying revenue sources through vertical integration and the assessment of potential acquisitions; it’s core SMSF business continues to thrive achieving minimum month-on-month revenue growth 50% since launching it’s SMSF consumer software six-months ago.

Lastly, Damien Linn has been invited to attend the Federal Government’s Ministerial trade and investment delegation to China in April 2016. “This will be a terrific opportunity to meet Chinese Banks, Financial Institutions and Regulators. As Squirel’s software designed with a modular codebase it allows the business to expand rapidly into global markets including China by modifying rules and algorithmic engines to reflect a particular country or state’s regulatory conditions. We look forward to partnering with major Chinese Banks, Financial Institutions and Fintechs to tackle the frictionless dominance of Australia’s big 4 banks” said Damien."

Damien Linn, Executive Chairman, 29th February 2016.

For information on Squirel Ltd please contact us.

Additional Documents

Squirel Announcement