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ONE CLICK GROUP LIMITED — Capital/Financing Update 2023
Nov 8, 2023
64250_rns_2023-11-08_a2f73548-0946-4aa4-a691-d7ec62a86ef1.pdf
Capital/Financing Update
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ASX / MEDIA RELEASE 9 November 2023
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One Click Life Launches Two New Products with Personal Loans and Car Loans Now Available on the Platform
Key Highlights:
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Rapidly growing One Click Group continues to expand its revenue generating product portfolio with the launch of two new products in personal and car loans
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The new products on the platform add to the existing suite that includes One Click Tax, Mortgages, Wills, Insurance and the One Click Verify platform
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The products can be marketed to the Company’s fast growing registered user base which currently sits at over 115,000 users and is continuing to grow
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One Click will earn an up-front brokerage/establishment fee for each loan it generates, with the loan funded by a third party institution at no credit risk to One Click Group
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Based on our user demographic, One Click Group believes these products will be attractive to its users and contribute towards the Company’s growing revenue, which is already up 160% on prior comparative period in the 9 months to 30 September of this year[(1) ]
Fast growing life admin technology platform One Click Group Limited (ASX:1CG) (“Company”) is pleased to update on the further expansion of the product offering on its One Click Life fintech platform.
The Company has launched two new products within its revenue generating finance brokering capability. This builds on the success of the One Click Mortgages product released earlier this year.
The two new products launched are;
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One Click Personal Loans
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One Click Car Loans
The products were officially launched to our user base today after a soft launch early last week as part of the testing and optimisation process.
The Company will earn an upfront brokerage / establishment fee for brokering the finance with a financial institution. The loan is funded by a third party financial institution with no credit risk to One Click Group.
The products allow customers to apply for either a personal loan or car loan via a simple digital application form. Our finance brokers then assess the application against the
(1) 2023 Revenue is unaudited.
One Click Group Limited | ACN 616 062 072 | Suite 5 CPC, 145 Stirling Highway, Nedlands, WA 6009
financial information we know about the customer due to our relationship with them as their tax agent, and broker the finance requested.
The new products will be marketed to the Platform’s existing registered user base, providing revenue upside with only a minor incremental marketing spend. Based on the demographic of users the Company services, One Click Group believes these products will be attractive to its users and contribute towards the Company’s fast growing revenue, which is already up 160% to $3.5 million on the prior comparative period in the 9 months to 30 September of this year[(1)] .
The number of registered users on the One Click Life platform continues to grow with registered user numbers already exceeding 115,000 recently. The Average Revenue Per User (ARPU) has increased to $32[(1)] per user following the recent success of the Next Day Refund product and One Click Mortgages. It is expected that the introduction of the One Click Personal Loans and One Click Car Loans products on the One Click Life platform will assist in continuing to grow the ARPU on the One Click Life platform.
The Company will continue to build out the ecosystem of products on the One Click Life platform. As the full ecosystem of financial and life admin products are built on the platform the Company will continue to look for ways to automate as many of these products as possible with the ability for customers to self-direct through their financial lives or dial into advice as needs, drawing on the services of our tax specialists and finance brokers, or in the future, financial planners to guide them.
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One Click Group Limited | ACN 616 062 072 | Suite 5 CPC, 145 Stirling Highway, Nedlands, WA 6009
One Click Life is creating a financial hub for individuals to manage all their life’s finances in a simple, low-cost format from their mobile phones.
Managing Director Mark Waller commented “The Personal Loan and Car Loan products will assist our customers in better managing their financial lives. After a soft launch during the testing and optimisation process, we already have a number of financing applications in progress, with our finance brokering team working to assist our customers with debt consolidation, car finance and other personal loans.
We will continue working on expanding out the ecosystem of products on the One Click Life platform to allow our customers to manage all their financial lives in a simple, low-cost format from their mobile phones.”
This ASX Announcement has been authorised for release by the Board.
For further information please contact:
One Click Group Limited T: + 61 8 9389 3160 E: [email protected] W: www.oneclickgroup.com.au www.oneclicklife.com.au
About One Click Group
One Click Life is a fast-growing Australian based financial technology platform positioned to disrupt and capitalise on the increasing market demand for online self-directed financial and life admin services.
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The platform’s primary competency and revenue stream at the moment is online tax. The One Click Life platform now contains a lending competency and a number of other products for users, with online wills and private health insurance already available with more new products to come in the future. The One Click Life platform aims to be the one stop shop for everyday Australians who want to manage their financial life admin across, tax, wills, insurance, mortgages, investing and more.
One Click Verify is a digital identity verification platform allowing businesses to digitally identity their customers as part of an onboarding or transaction process.
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One Click Group Limited | ACN 616 062 072 | Suite 5 CPC, 145 Stirling Highway, Nedlands, WA 6009