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The non-bank lender has originated $16 billion in asset finance loans across 400,000 customers in its first decade.
Pepper Money celebrated its 10th anniversary at an event at the Sydney Opera House on Tuesday (22 October), where it reflected on its growth over the past decade and how brokers and car dealers had helped contribute to its success.
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According to the lender, its partners have helped the lender originate more than $16 billion in asset finance loans since 2014 and have assisted more than 400,000 customers in financing their vehicle and equipment purchases.
It now has over $6 billion in assets under management (AUM) and a growing presence in electric vehicle financing and novated leasing (with Pepper Money believed to be one of the largest novated financiers in market).
Speaking to the brokers, car dealers, introducers, funders, aggregators, and partners at the event, Ken Spellacy, the general manager of asset finance at Pepper Money, said its strategic partnerships and relationships had been “the cornerstone” of Pepper Money’s success in asset finance.
“Our achievements – despite a challenging economic decade – are nothing short of remarkable. From the early days, the Pepper Money ‘Can Do’ spirit was already alive, driving us to push boundaries and do things differently,” Spellacy said.
“The driving force behind our own success has been our focus on driving the success of our customers and partners alike. We are incredibly grateful to our partners, funders, introducers, brokers, and our team for their support and collaboration over the past 10 years.
“[Their] belief in our vision has been instrumental in shaping our path and driving our success. Together, we have pushed boundaries, embraced innovation, and built a legacy we can all be proud of.”
Pepper Money CEO Mario Rehayem echoed Spellacy’s sentiments: “I want to extend my heartfelt congratulations and gratitude to everyone that has been a part of our Pepper Money Asset Finance business, including our team, valued partners, brokers, introducers, funders, and shareholders, for contributing to our remarkable success story.”
Touching on innovation, Spellacy said that the lender’s technology stack – including its origination platform Solana – had been a key to its success and noted its systems had been built with feedback from partners and customers.
“By listening to feedback and developing tech solutions to make doing business easy, we have set new experience standards in our industry,” Spellacy said.
“Our technology stack, combined with the latest API technology, ensures an optimal experience for both introducers and customers.
“We’re constantly looking at fresh ways to enhance service levels and delivering speed-to-yes.
“As we look to the future, we are excited about the possibilities that lie ahead.”
Rehayem said: “With the momentum we’ve built, the next decade will be about continuing to innovate and providing even greater value to our partners and customers.
“Together, we’ll navigate new challenges, seize opportunities, and continue to grow.”
Several aggregators have congratulated Pepper on its 10th anniversary, with Darren Rumble, the head of partnerships at asset finance aggregator Fintelligence (part of Australian Finance Group), saying: “Working with Pepper has been a game changer for us at Fintelligence. From seamless digital applications to real-time tracking and analytics, Pepper leverages cutting-edge technology to provide a smooth and transparent experience for our brokers, and in turn their customers.”
Simon Gwynne, the general manager of Viking Aggregation, said: “Pepper Money has been a leader in asset finance for many years, consistently prioritising brokers and providing tailored solutions across nearly every asset class. It’s no surprise they are regarded as the top non-bank lender in our market.”
Meanwhile, Tom Caesar, the group executive for LMG Asset Finance, said that the lender was “clearly the most innovative and tech-advanced lender in our space while Damian Mantini, Platform Finance’s head of strategic partnerships, noted the lender had “consistently delivered a product offering that is both broker and customer-centric.”
Pepper Money recently welcomed Matt Perry to the team as its new head of product, asset finance, with the new hire leading the product strategy and innovation for the lender’s asset finance division.
According to the non-bank, Perry will be particularly focused on “delivering solutions that enhance customer experience and support the company’s growth objectives”.
[Related: Pepper welcomes new head of product for asset finance]
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