How We Got Here
2018: It starts with a mission
Our story begins in the winter of 2018. Caleb Gibbins was working as a Financial Services lawyer at MinterEllison specialising in ETFs and financial services regulation.
Caleb had witnessed the rise of ETFs first-hand, products that offered retail investors greater and more liquid access to passive and diversified investment options than ever before.
But ETFs are only available to the 35% of Australians that invest in listed assets. For ordinary Australians to access investments, they it would need to be delivered to them in the form of a product they can understand and access everyday.
Within 3 months, Caleb’s wife had given birth to a beautiful daughter, they purchased a new house, took out a loan and started a business on a mission to help people invest.
Cache had begun.
The world’s first ‘everyday investment account’
2019: The B2C launch
By early 2019 Cache had raised initial seed capital, hired a CTO and technical team, applied for an AFSL, and set about building their first product.
Cache’s first product was a real-time liquid diversified investment product that investors could access through a mobile application or a Visa card.
It was a world first! Never before could people use their investment account at the ATM or to buy things in-store or online. We thought it was pretty cool.
A platform for other fintech innovators to build on
2019: The B2C launch
As 2019 drew to a close, we realised that our brand was not going to resonate with everyone. Investing isn’t a ‘one-size-fits-all’ category and our customers were asking for all sorts of different features and investment strategies to meet their needs.
If we truly wanted to help millions of Australians invest, we would need a multi-brand strategy and a lot more distributive firepower.
We closed our B2C business and started offering white-label investment products to partner brands.
Investing-as-a-Service gathers steam
2020: COVID and our first partners
By March 2020 we had refactored our technology and business to support multiple products and brands, and had lined up our first partners.
And then the world came crashing down!
In just a couple of weeks the ASX fell over 35% and large companies started laying off staff in their thousands. Working from home, we thought nobody was going to launch a micro-investing product (or invest in our company) in the depths of a pandemic recession. It was a hard time for our fledgling company.
Fortunately, our first partner Spriggy came through and signed up to launch Spriggy Invest, an investing app for parents and kids, at a time when nobody else would. Our second partner Upstreet soon followed and with their support Cache, reimagined as a platform, was underway.
Runs on the board and a strong pipeline
2021: Time to scale
Fast-forward to mid-2021 and Cache supports 6 clients in a rapidly growing micro-investing market.
COVID has driven the rates of micro-investing higher than ever before - growing the number of accounts by 225% in just 12 months!
With each new partner, we’re developing our platform and technology to become more robust and to support more advanced features. Our business processes have settled into a consistent rhythm and account onboarding and servicing have standardised.
With vaccines rolling out around the world and the cloud of COVID slowly lifting, Cache stands ready for the next stage of its expansive mission...
To help more people invest.