Credit24

What Credit24 does

Credit24 is the Australian trading name of IPF Digital Australia Pty Ltd, a wholly-owned subsidiary of International Personal Finance plc (LSE: IPF), a UK-listed non-bank lender with 25+ years of industry experience operating across 9 countries. Founded in Australia in 2012, Credit24 is a 100% online digital lender offering unsecured personal loans of $500 to $10,000 and a revolving Line of Credit to Australian retail consumers. Its core technology stack integrates OSKO fast payments for 60-second fund disbursement, Illion open banking for read-only bank statement verification (256-bit encryption, 2048-bit keys), and credit reporting integrations with Equifax and Experian, enabling an automated application-to-decision process completed in under 10 minutes. The platform is ASIC-regulated under Australian Credit Licence 422839 and is a member of AFCA.

The product portfolio is organized around three pricing tiers (Small $500-$2,000, Medium $2,001-$5,000, Large $5,001-$10,000) plus the Line of Credit, with APRs ranging from 24% to 47.9% on larger loans and monthly fees of 2-4% on smaller loans and the credit line. Revenue is generated from interest income, one-time establishment fees (20% on small loans, $400 on medium, zero on large), monthly service fees, and capped late payment fees ($10 per dishonour, $50 monthly maximum). Distribution is exclusively direct-to-consumer via the credit24.com.au website, supported by content marketing through the Money Matters Blog, online advertising, and direct email/SMS. Customer segments include general consumers needing emergency or everyday funding, sole traders and small business owners, renters, students, and part-time or self-employed individuals — collectively a near-prime and non-prime borrower base underserved by traditional banks.

Name

Credit24

Legal name

IPF Digital Australia Pty Ltd

Website

https://credit24.com.au

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

1–10 employees

Short description

Credit24 is an Australian digital lender (subsidiary of UK-listed IPF plc) offering 100% online personal loans of $500-$10,000 and a Line of Credit to retail consumers, with 60-second OSKO fund disbursement and automated underwriting via open banking and credit bureau integrations.

Ownership category

akta.pro rank

Product category

Consumer Lending

NAICS

Nondepository Credit Intermediation (5222), Credit Intermediation and Related Activities (522)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Small-Dollar Short-Term Installment Loans (Non-payday) (FSAKAMAI)

akta.pro secondary industry

Emergency & Short-Term Installment Personal Loans (Unsecured) (FSAKAAAH)

Keywords

• Consumer lending
• Personal loans
• Digital lending
• Online lending
• Line of credit

Headquarters

HQ city

Alexandria

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Others

Revenue model

1. Interest Income: Charges monthly interest on loan amounts borrowed. For small loans ($500-$2,000): 2-4% monthly fee. For medium loans ($2,001-$5,000): 24-48% p.a. For large loans ($5,001-$10,000): 24-47.9% p.a.
2. Establishment Fees: One-time establishment fees charged at loan origination. Small loans: 20% establishment fee. Medium loans: $400 establishment fee. Large loans: no establishment fee.
3. Monthly Service Fees: Monthly fees charged on certain loan products. Small loans include monthly fees of 2-4%. Medium and large loans may have $0 monthly service fees.
4. Late Payment Fees: $10 fee per dishonoured direct debit attempt. Maximum late fee capped at $50 per calendar month for payments unpaid for 30 days.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Credit24 is an Australian digital lender that provides unsecured personal loans ranging from $500 to $10,000 and revolving lines of credit to Australian consumers through a 100% online application platform. The service processes applications in under 10 minutes, delivers automated credit decisions, and disburses approved funds within 60 seconds to OSKO participating banks. Loan products are structured into Small ($500-$2,000), Medium ($2,001-$5,000), and Large ($5,001-$10,000) tiers with purpose-specific variants for travel, vehicles, medical, dental, wedding, education, rental bonds, and household goods.

Product overview

Credit24 is a digital lending platform operated by IPF Digital Australia Pty Ltd, offering unsecured personal loans and lines of credit to Australian consumers. The product portfolio is organized around a core Personal Loans platform and a Line of Credit product, with specialized loan types segmented by purpose (Travel, Car, Medical, Dental, Wedding, Student, Emergency, Business) and loan size tiers (Small $500-$2,000, Medium $2,001-$5,000, Large $5,001-$10,000). The platform features 100% digital application process with fast approval decisions and Osko-enabled fund transfers within 60 seconds. All loans are assessed under responsible lending obligations with personalized interest rates and flexible repayment schedules (weekly, fortnightly, or monthly).

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Loans Unsecured personal loans ranging from $500 to $10,000 with flexible repayment terms of 6 to 36 months. Available for multiple purposes including travel, car purchases and repairs, medical and dental costs, wedding expenses, rental bonds, household goods, home renovation, education, and emergencies. Personalised interest rates are based on individual creditworthiness and financial situation. Available 24/7 through 100% online application with 60-second fund disbursement to OSKO banks.
• Line of Credit Revolving credit facility allowing customers to draw funds up to their approved limit as needed. Features no establishment fee, monthly fees of 2-4% charged on the amount borrowed, APR between 24% and 47.9%, and maximum term of 36 months. Designed for consumers who want flexible, on-demand access to credit without reapplying for each drawdown.
• Small Loans ($500-$2,000) Small amount credit contracts (SACCs) ranging from $500 to $2,000 with 20% establishment fee on the amount borrowed and monthly fees of 2-4%. Maximum repayment term of 12 months. APR not applicable; total cost comprises establishment fee and monthly charges. Designed for short-term, smaller borrowing needs.
• Medium Loans ($2,001-$5,000) Medium-sized personal loans from $2,100 to $5,000 with $400 establishment fee and APR between 24% and 47.9%. Repayment terms range from 12 to 24 months with comparison rates of 32.29% to 57.05%. Minimum term 365 days.
• Large Loans ($5,001-$10,000) Large personal loans from $5,100 to $10,000 with no establishment fee and APR between 24% and 47.9%. Repayment terms of 12 to 36 months with comparison rates matching the headline interest rate. Minimum term 365 days.

Quantifiable outcome

• Funds disbursed in 60 seconds to OSKO participating banks upon approval
• +2 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature2 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Australian Financial Complaints Authority (AFCA)coreOthersCredit24 is a member of AFCA, providing customers with access to free, independent external dispute resolution for complaints that cannot be resolved directly with the company. AFCA contact: 1800 931 678.
• Fintech AustraliaminorOthersCredit24 is a member of Fintech Australia, an industry association supporting fintech companies in Australia.
• EquifaxcoreTechnology or IntegrationCredit24 exchanges credit information with Equifax Pty Ltd as a credit reporting body. Equifax provides credit reports and comprehensive credit reporting data to assess loan applications.
• Illion (an Experian company)coreTechnology or IntegrationCredit24 uses Illion for secure read-only bank statement retrieval using 256-bit encryption and 2048-bit keys. Illion also provides identity verification services and is listed as a credit reporting body partner.
• ExperiancoreTechnology or IntegrationCredit24 obtains credit reports and shares credit information with Experian as one of the credit reporting bodies for comprehensive credit reporting.
• Osko (BPAY)coreTechnology or IntegrationOsko fast payment service enables Credit24 to disburse approved loan funds within 60 seconds to participating banks, providing near-instant fund transfers for approved customers.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• nimble: Australian online lender offering small personal loans ($500–$10,000) to similar non-prime borrower segments with fast digital application and decisioning. Directly comparable product range, target customer (Centrelink, part-time, self-employed), and digital-first distribution model.
• Wallet Wizard: Australian installment lender providing small personal loans with similar tiered pricing and establishment-fee structure. Competes head-to-head in the $500–$5,000 unsecured consumer loan category with comparable APR bands and online application.
• Ferratum (now Multitude SE): European-headquartered digital lender operating small-dollar installment and line-of-credit products in multiple markets. Sister-competitor to Credit24 via parallel business model (online, fee-based small loans) though not directly active in Australia.
• Cash Converters: ASX-listed Australian pawnbroker and short-term personal loan provider. Overlaps with Credit24 in small-dollar emergency lending and serves similar non-prime borrower segments, though combines physical retail with digital channels.
• Sunshine Loans: Australian online installment lender offering $2,000–$10,000 personal loans with similar pricing model. Competes directly in the medium and large unsecured personal loan tiers with comparable APR bands and digital application flow.

Broad incumbents

• Prospa: ASX-listed Australian online lender primarily focused on small-business loans but also extending into consumer credit. Larger and more diversified than Credit24, with broader product portfolio and institutional funding base.
• Latitude Financial: Major Australian non-bank consumer lender offering personal loans, credit cards, and instalment products. Much larger scale than Credit24 with established retail partnerships and broader customer base across prime and near-prime segments.
• SocietyOne: Australian digital personal loan platform (now part of Plenti Group) offering unsecured personal loans up to $50,000. Comparable digital distribution and Australian focus, but targets higher-FICO borrowers than Credit24's non-prime core.
• Afterpay: Block-owned buy-now-pay-later provider competing for small-ticket consumer financing wallet share. While structurally different (merchant-funded instalments vs consumer loans), increasingly substitutes for Credit24's small-loan use cases among younger borrowers.
• Zip Co: ASX-listed BNPL and consumer credit provider offering installment products across Australia. Overlaps with Credit24's small-ticket consumer financing use cases via Zip Pay and Zip Money products, targeting similar demographics with digital-first acquisition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/credit24au
• LinkedInlinkedin.com/company/credit24

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Credit24