33. CreditReboot
CreditReboot identifies breaches in customer loans, hold lenders accountable to credit codes. See their Smart50 rank.
Revenue: $1.1 million
Growth: 44%
Founder: Laurence Barlow
Head office: Sydney, NSW
Year founded: 2015
Employees: 10
Industry: Financial services
Website: creditreboot.com
How CreditReboot started
CreditReboot founder Laurence Barlow knew from his previous career in debt collection that the majority of consumers had little idea about their rights when it came to credit. While most people genuinely want to pay off any debts they’ve accrued, they’re caught in a system full of credit traps. The company was initially launched as a DIY credit repair organisation, but expanded with the 2021 regulation of the credit sector. It now identifies breaches in customer loans, hold lenders accountable to credit codes, and successfully negotiates substantial debt reductions for thousands of Australians.
Growth
CreditReboot, says Barlow, is helping the everyday Aussie go toe-to-toe with the big lender, one breach at a time. To that end the company has recently launched the CreditReboot Coalition, a team of finance professionals offering a full-service solution. “We’ve got debt consolidation loans, accounting services, small business restructuring, credit compliance specialists, and debt negotiators – all geared toward helping consumers and small business owners bounce back post-pandemic,” Barlow said.
Where to next
The plan is simple: keep improving the credit industry. Regulation and compliance, while at times challenging to navigate, have brought some degree of order to what was a ‘wild west’ of unregulated debt management. With that in mind, CreditReboot’s next move is launching a version of its software tailored for the broker aggregator market. The goal of reducing non-compliant lending and minimising consumer defaults. Raising the bar on compliance and helping brokers write better loans should result in a better customer service experience.
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