The Insider: Meet the CEOs – 27 April

Propell’s pure tech approach and first-mover advantage is disrupting the SME finance market with more than 1.25 million potential and underserviced customers. The company has organically grown 420% since March 2021, hitting 30% quarter-on-quarter growth and a record 211% increase in lending at March 2022. Currently generating revenue ahead of forecasts, Propell expects to continue its exponential growth, further supported by its partnerships with fintech leaders Square, Stripe and Zip. The company grew its customer base to ~1000 businesses in the first 18 months of operation, now has ~1700 and is targeting ~3400 by the end of 2022.

Wellnex Life is a fast-growing company that is seeing significant growth in revenue, with December half-year revenue increasing 1099% from the prior corresponding period, and projected to exceed $21 million in revenue in FY22 – more than 200% from FY18. The company has a ‘first-to-market’ strategy, a large portfolio of licensed and inhouse brands and a nationwide distribution network that includes Chemist Warehouse, Woolworths and more. The company recently signed an agreement with global health powerhouse GlaxoSmithKline to supply its existing soft gel liquid analgesic in Australia and New Zealand for a minimum of three years.

Xref built and commercialised a platform that ‘digitises’ the reference-checking and identity verification processes for human resources departments. The company recorded a strong first half of FY22 achieving $10 million in sales, up 96% on the previous corresponding half. As at Q2 of FY22, Xref is profitable and has delivered consistent quarterly growth, more than doubling its revenue since Q4 of FY20. The company is believed to have an attractive FY23 valuation of ~3x its current enterprise value.