Sydney, 2 February 2022: Australian supply chain finance and technology provider Octet has today announced the appointment of Judo Bank Co-Founder and former Chief Operations/Product Officer Tim Alexander as Non-Executive Director to the Board, effective from January 2022.
Demand for supply chain finance is growing in Australia from corporates and high-growth SMEs alike. In 2021, supply chain transactions on Octet’s platform surpassed $3bn and the company announced a scalable $300M warehouse funding facility to keep up with customer demand. Mr Alexander will bring his 25 years of small business-focused banking experience to supercharge this growth even further.
Prior to joining Octet, Mr Alexander held multiple senior roles at NAB and co-founded highly successful SME-focused Judo Bank in 2016. There, he held the positions of Chief Operating Officer and Chief Product Officer and was part of the senior team responsible for Judo’s rapid growth and innovation. This expertise will be invaluable in helping Octet in its ambition to launch an Octet-branded virtual corporate card directly linked to client facilities within the next year.
Commenting on the new role, Mr Alexander said “Octet is a unique fintech that is rapidly carving out a large addressable market by providing complementary transactional and unsecured finance solutions across the supply chain to quality, investment grade businesses. There is a huge degree of expertise in this business and proprietary technology and infrastructure, which makes it particularly scalable. The Octet team has a solid road map laid out, which I am excited to be contributing to.”
Octet’s Chief Commercial Office Brett Isenberg said, “We are excited to welcome Tim to the Octet team, his depth of financial services experience, leadership and underlying passion for helping businesses grow will be invaluable to us as we continue to scale Octet.”
Michael Rom, Octet’s co Chief Operating Officer and Technology Officer said, “Tim is an important addition to our board as we bolster our team for our next phase of growth. We look forward equally in both sharing and learning from each other to drive best-of-breed finance solutions for SMEs.”
ENDS.
Media contacts:
Duncan Khoury
Octet Finance Pty Ltd
dkhoury@octet.com
0421 700 783
Iain Waterman
Sefiani Communications
Iwaterman@sefiani.com.au
0401 719 935
About Octet
Australia’s leading supply chain financier, Octet specialises in providing working capital and payments solutions to Australian business’ and their global and local trading partners.
Established in 2008, Octet’s vision is to connect and grow the world’s businesses via simpler, fairer and faster supply chain finance solutions.
Octet’s market-leading working capital solutions include:
- Trade Finance –access increased purchasing power with a competitive, convenient line of credit – up to 120-day payment terms and 60 days interest-free.
- Debtor Finance – relieve cash flow strain and get up to 85 per cent of your invoices paid immediately.
- Supply Chain Accelerate – unlock liquidity with a revolutionary working capital solution, funding 100 per cent of your supplier invoices upfront, with 90-day payment terms.
- OctetPay –pay smarter across borders with your chosen funding source, whilst using our bank-beating FX rates to get upfront visibility of exactly what you’ll pay in your local currency, while your supplier gets paid in their choice of 15 currencies.
