Tiimely CEO Anthony Baum
Lender and lending platform technology company Tic:Toc has changed its name to Tiimely, having tired of being confused with a social media platform.
Launched in 2017 as a digital lender, the company has developed as a lending platform technology provider. Its enterprise business now accounts for more than 40 per cent of revenue.
It has a close relationship with Bendigo and Adelaide Bank, which funds its loans and holds a 26.4 per cent stake. Bendigo Bank’s BEN Express, Up Home and Qantas Money Home Loans (funded by Bendigo and Adelaide) all operate on the Tiimely platform.
To coincide with its rebrand, Tiimely has launched a broker service, providing access to 30 mortgage lenders via online application. The home loan and brokerage businesses sit within a division called Tiimely Home.
The brokerage business has been launched in partnership with aggregator AFG.
Following the completion of its most recent capital raising in February, Tiimely was valued at around A$254 million.
Tiimely has said in the past that it had not seen any brand confusion, but things have changed.
The social media platform TikTok launched a trademark challenge to the Tic:Toc brand last year. Although TikTok lost the case, the confusing associations remained.
Tiimely founder and chief executive Anthony Baum said in a statement: “While our trademark proves we came first, the rebrand provides the room to focus on our platform business model without mis-categorisation or distraction.”