Draft:Shift (Australian company)


Shift
FormerlyGetCapital
IndustryFinancial technology
Founded2014
FounderJamie Osborn
HeadquartersSydney, Australia
ProductsBusiness overdrafts, equipment finance, working capital finance, trade credit

Shift is an Australian financial technology company focused on lending to small and medium-sized enterprises (SMEs). It was founded in 2014 by Jamie Osborn as GetCapital and rebranded to Shift in 2021.[1][2]

History

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Shift was established in Sydney in 2014 as GetCapital, initially offering unsecured lending products to small businesses.[3]

In 2015, the company entered partnerships with organisations including Alibaba and Qantas to expand distribution of its lending products.[4][5]

During the late 2010s, online SME lenders emerged as alternatives to traditional bank lending as credit conditions tightened.[6]

The company introduced a business overdraft product in 2020.[7]

Shift participated in the Australian Government’s SME Loan Guarantee Scheme during the COVID-19 pandemic.[8]

In 2021, the company rebranded from GetCapital to Shift.[9]

Funding

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Shift has received investment from institutional and venture capital investors.

In 2020, the company secured backing from Challenger and Macquarie Capital.[10]

In 2023, it raised funding from Sequoia Capital.[11]

In 2024, the company completed a funding round led by Peak XV Partners.[12]

Industry

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Shift operates within Australia’s non-bank lending sector, which includes lenders such as Prospa and Judo Bank.[13]

The sector expanded during the late 2010s as major banks reduced exposure to SME lending and demand increased for faster, technology-driven credit assessment.[14]

Business model

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Shift provides lending products to small and medium-sized enterprises, including business overdrafts, equipment finance and trade credit.[15]

References

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