Kikka Capital, a Perth-based fintech startup providing small businesses with loans of up to $100,000, has partnered with Qantas through Aquire, the airline’s rewards program for small to medium businesses.
The partnership will give Aquire members the ability to earn 10,000 rewards points on eligible loans of $10,000 or more.
Milko Radotic, CEO of Kikka Capital, said the partnership – the latest in a string between fintech startups and corporates recently – shows fintech is an emerging force in Australia.
“There is a trend for non-financial institutions world-wide to be using fintech partnerships to offer incremental benefits to their customers. We see these partnerships as key to the fintech sector’s future in Australia. Though there is much hype around online only lenders, the model of a direct business to consumer model is difficult to gain traction in. We believe there will be more and more partnerships like this one that we have brokered with Aquire,” he said.
Kikka Capital launched early last year, linking up with US startup Kabbage as its Australian partner. The partnership is a technology licensing agreement, with Kabbage providing the platform and underlying technology.
The platform is focused on data, with a loan applicant’s eligibility based around their track record and data collated from various sources, such as their accounting software, and their sales on online platforms like Amazon or Etsy.
Kikka also partnered with eWay last November, providing the payment provider’s network with easier access to its credit lines.
Lesley Grant, CEO of Qantas Loyalty, said, “We know our members want to be rewarded for spending on financial services products such as business loans so Kikka will be a welcome addition to our list. Adding Kikka to the mix will provide our members with a new opportunity to invest in the growth of their business and be rewarded with Aquire Points at the same time.”
The startup joins companies including Westpac, Randstad, Avis, and Deloitte on Aquire’s list of partners.
Qantas last month launched ‘Ideas that Travel,’ a partnership with TEDxSydney that saw speakers deliver tech talks from 30,000 feet on a flight from Sydney to San Francisco, to celebrate its relaunch of its route between the two cities. Speaking on the flight were Marita Cheng, founder and CEO of 2MAR Robotics, Jo Burston of Rare Birds, experimental physicist Michael Biercuk, and healthtech founder Jeremy Howard.
Qantas said it has relaunched its Sydney-San Francisco route to support the growth of business travel between the two cities as Australia’s tech ecosystem booms.
Image: Milko Radotic. Source: Supplied.