By Guglielmo de Stefano on Thursday 3 March 2016
Kikka Capital forges a strategic partnership with Acquire, Qantas’ SME rewards program.
Australian small business lender Kikka Capital today announced the signing of an agreement with Acquire, Qantas’ SMEs rewards program. Qantas is Australia's largest domestic and international airline. The company also runs Aquire – a business rewards program aimed at helping businesses save money and reward employees. Kikka Capital joins more than 35 existing Acquire partners, including telecommunications firms and hotels.
The partnership aims to reward small business owners for taking out lines of credit. Acquire members will be able to earn 10,000 Acquire points on eligible loans of $10,000 or more.
Founded in 2015, Kikka Capital is an Australian online provider of small business loans. The platform assesses the health of businesses in a few minutes, using data generated by dozens of sources. The technology behind the platform is supplied by Kabbage – a US provider of small business and consumer loans.
Kikka currently offers loans of between $1,000 and $100,000, for a maximum term of 6 months. The company charges loan fees ranging from 2% to 9.75% for the first 2 months and 1% for each of the remaining 4 months.
Kikka Capital CEO Milko Radotic warmly welcomed the agreement and offered comment:
“We know that Australian SMEs are often time and cash poor and Kikka helps their growing businesses on both these counts giving them more time and greater ability to focus on their core business functions. […] As an online business lender, we are thrilled to be partnering with acquire to bring faster and cost effective loans to more Aussie businesses.”
According to Kikka, a recent survey of Aquire members identified financial services products as the third most popular points-earning category after telecommunications and hotels. Acquire’s list of partners covers a wide array of categories and includes the likes of Westpac, GIO, Deloitte, Secure Parking and many more.
Qantas Loyalty CEO Lesley Gran concluded:
“We know our members want to be rewarded for spending on financial services products such as business loans so Kikka will be a welcome addition to our list of partners. Adding Kikka to the mix will provide our members with a new opportunity to invest in the growth of their business and be rewarded with Aquire Points at the same time."