Symon Brewis-Weston, the former CEO of Flexigroup and a director at ASX-listed Money3 Corporation, has assumed the chief executive role.
In a statement on Tuesday, Charlotte Petris said: “I am proud of what the team has achieved, especially over the last 12 months… I look forward to seeing the team grow Timelio to the next level as I take my next step as an entrepreneur in the financial services industry.”
Earlier this year, Timelio acquired the invoice financing book of Bendigo and Adelaide Bank, which it says has “transitioned well and continues to perform”.
In October, Timelio made headlines after it secured $270 million of financing from Goldman Sachs via a warehouse facility.
The small business financing fintech raised $5 million in 2016 and has raised around $19.3 million in equity financing, according to regulatory filings.
Its raising comes amid a tough time for fintechs and other growth companies seeking capital to fund their existing operations, and growth. The tough raising environment saw neobank Volt Bank shut down in late June, while the Australian tech sector is littered with examples of companies cutting jobs and winding back spending to preserve capital.