Eric Lookhoff appointed CEO of QuickFee Limited

SYDNEY, AUSTRALIA: QuickFee Limited (ASX: QFE) has announced the appointment of Eric Lookhoff as CEO with effect from July 01, 2021.

Having established the QuickFee business in both Australia and the United States, and led the significant growth in operations, Founder and Chief Executive Officer (CEO), Bruce Coombes will transition to the role of Managing Director, Australia, which includes responsibility for special projects.

Bruce, who will remain on the QuickFee board as an Executive Director, will be replaced as CEO by Eric Lookhoff, who was previously appointed as QuickFee’s President, United States in February 2021. Eric will also join the QuickFee board as an Executive Director.

Commenting on CEO succession, Chairman Barry Lewin said: “Bruce created our Australian and US businesses from a standing start and achieved significant organic growth. He will continue to be a major contributor to QuickFee in the company’s next phase of growth, as a board member and in his new role overseeing Australia and other major growth projects.

We are delighted to have someone of Eric’s calibre to drive the overall growth of QuickFee going forward. Eric brings a unique skillset, enormous experience, and a strong US professional network that will ensure QuickFee is best able to capitalise on major growth opportunities in QuickFee’s payments business.

This change in leadership positions QuickFee well for the future.As Founder of QuickFee, Bruce led the company through several important milestones, including entry into the US market, the launch of the rapidly growing credit card and EFT/ACH products, and QuickFee’s Financing and Buy Now Pay Later instalment solutions.

Additionally, Bruce secured significant growth funding from a major Australian finance company, and successfully listed QuickFee on the Australian Securities Exchange in July 2019, which also included two subsequent heavily oversubscribed capital raisings. During this period, he has successfully grown the business in the US, and built a professional, dedicated team of approximately 70 employees.

As CEO, Bruce’s travel commitments have been considerable, and he has undertaken these with his characteristic drive, energy, and enthusiasm. He has tirelessly conducted the QuickFee business across multiple time zones, including through the COVID-19 pandemic when travel to the US became impossible.

It is a great tribute to Bruce that the business has attracted professional management of the highest calibre who will build upon the current platform and drive significant future growth and value for QuickFee shareholders.”

Commenting on the transition, Bruce Coombes said: “It has been a delight to be the CEO of a company that metaphorically started in a basement and has grown to a point of US expansion. It is an opportunity for which I am very grateful and know that the next stage of development of our international business is in the hands of talented executives with a broad range of skills. Whilst I continue to lead our Australian business and get to apply a start-up skill set to new opportunities and markets, achieving our growth objectives is in very experienced hands.

As President of QuickFee US, Eric has very quickly achieved several key objectives with the buildout of a deeply experienced and professional payments leadership team, and new go-to-market strategy, including enterprise and national accounts, strategic channel partnerships, and merchant direct acquisition models”.

Commenting on his appointment, Eric Lookhoff said: “Moving forward, we will deepen our focus in this vertical up and down market and expand to other segments of the services sector, including commercial and personal services, which opens new markets and higher yielding products.

To achieve this, we are constructing four pillars of increased strategic capabilities: (1) A robust and effective go-to-market strategy underpinned by effective brand positioning, precision demand generation, and high-velocity sales conversion; (2) a highly scalable and user friendly processing platform; (3) an improved economic model which is expected to deliver greater transactional margin and higher processing yields across lending and payments; and (4) a highly engaged, experienced, motivated, and performing team of payments and lending professionals. We will share more on our strategy at our end of year results presentation”.

QuickFee Limited (ASX:QFE) is a fast-growing financial technology company providing an innovative suite of online payment solutions and loan origination offerings to professional, commercial, and personal services providers, helping customers access the advice and services they need, with the choice to pay now or over time. QuickFee’s fully integrated online payment platform and financing solutions enable merchants to accept payments by card, EFT/ACH, payment plan, or a Buy Now, Pay Later instalment plan. QuickFee currently operates in the United States and Australia.

QuickFee Ltd

0.27 AUD +0.025 (10.20%)

9 Jun, 2:47 pm GMT+10 · Disclaimer

ASX: QFE

www.quickfee.com

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