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Big Growth Spurs Fintech Listing

CHEYANNE ENCISO – The West Australian

A Perth fintech platform focused on simplifying financial transactions is eyeing an ASX listing later this year after posting more than 300 per cent growth in a year.

One Click Life – co-founded by WA-based Mark Waller and Nathan Kerr – is a web-based dashboard where users can lodge tax returns, write and update wills and buy private health insurance.

The company has appointed finance company Canaccord Genuity as the lead manager for its planned July listing and will look to raise a minimum of $4.5 million under an initial public offering.

Mr Waller, pictured, said he wanted to expand the service offering and “try to disrupt” the superannuation, mortgages, investment and banking industries as they had done in the accounting market.

The closing date for the public offer has been set for July 14.

The startup’s user base has grown to more than 40,000 customers across Australia since launching in 2016, with more than 25,000 new customers in the last 12 months. “Our product allows our customers to basically manage their financial lives when they want, where they want and from the device they want,” Mr Waller said. One Click tax revenues grew more than 336 per cent to $1.074m for half-year ending December 2021, up from $246,000 in 2020.

“We kind of just felt, in the tax space, that there had been little innovation, certainly since I started working in tax about 25 years ago,” Mr Waller said.

“What we wanted to do was basically put the power back in the hands of ordinary Australians to be able to lodge their own tax return in a simple-to-use format. If you jump into our product, it’s a five to 15 minute max process to lodge your tax return, which is all it should be.”