Credit24
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.
- Company typePrivate
- Founded2012
- HeadquartersAlexandria, Australia
- Headcount1–10
- GTM typeB2C
- OfferingServices
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.
Credit24 firmographics
Firmographics- 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
Credit24 industry classification
Industry- 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
Where Credit24 is headquartered
LocationHeadquarters
- HQ city
- Alexandria
- HQ country
- Australia
- HQ region
- Oceania
Offices1 record
Markets served
Credit24 business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Others
Revenue model
- 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.
- 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.
- 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.
- 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
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Small Loans: $500 - $2,000, 6-12 months, 20% establishment fee, 2-4% monthly service fee |
| Unit Pricing | Monthly | Medium Loans: $2,001 - $5,000, 12-24 months, $400 establishment fee, 24-48% p.a. interest |
| Unit Pricing | Monthly | Large Loans: $5,001 - $10,000, 12-36 months, no establishment fee, 24-47.9% p.a. interest |
| Usage-based | Monthly | Line of Credit: No establishment fee, 2-4% monthly fee, 24-47.9% APR |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Credit24 product offering
Product offeringCore 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
Companies that use Credit24
Customer profileNamed customers1 record
Segments5 records
Ideal customer profiles3 records
Credit24 technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
Feature2 records
Credit24 partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- Australian Financial Complaints Authority (AFCA)coreCredit24 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 AustraliaminorCredit24 is a member of Fintech Australia, an industry association supporting fintech companies in Australia.
- EquifaxcoreCredit24 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)coreCredit24 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.
- ExperiancoreCredit24 obtains credit reports and shares credit information with Experian as one of the credit reporting bodies for comprehensive credit reporting.
- Osko (BPAY)coreOsko 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
Credit24 competitors and assessment
Company assessmentDirect 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
Credit24 social profiles
Digital presenceCredit24 compliance and trust
Trust signalCompliance7 records
Credit24 financial estimates
Financial estimateRevenue estimate
Valuation estimate
Credit24 leadership team
Management profileNumber of profiles
Profiles1 record
Credit24 funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Credit24 M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Credit24
What does Credit24 do?
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.
Is Credit24 a public or private company?
Credit24 is a private company. It is classified as corporate owned and is currently operating.
When was Credit24 founded?
Credit24 was founded in 2012. It employs 1 to 10 people.
Where is Credit24 based?
Credit24 is headquartered in Alexandria, Australia, in the Oceania region.
How does Credit24 make money?
Four revenue lines are on record. Interest Income is the primary driver. The others are establishment Fees, monthly Service Fees and late Payment Fees.
Who are Credit24's main competitors?
Direct peers on record are nimble, Wallet Wizard, Ferratum (now Multitude SE), Cash Converters and Sunshine Loans. Broad incumbents are Prospa, Latitude Financial, SocietyOne, Afterpay and Zip Co.
Does Credit24 have an API?
No public API is recorded for Credit24.
What industry is Credit24 in?
Credit24's product category is Consumer Lending. Its primary akta.pro industry code is FSAKAMAI, Small-Dollar Short-Term Installment Loans (Non-payday), with a secondary code of FSAKAAAH, Emergency & Short-Term Installment Personal Loans (Unsecured). Its NAICS code is 5222 and its SIC code is 6141.