Lookhoff to drive growth, product development, and expansion into new markets

Financial technology company, QuickFee Limited (ASX:QFE) (https://www.quickfee.com), announces the promotion of Eric Lookhoff to Chief Executive Officer to take effect on July 1, 2021, when he will also join the QuickFee Board as an Executive Director. Lookhoff joined QuickFee in February 2021 as President, United States, and quickly achieved several key objectives with the buildout of a deeply experienced and professional payments leadership team, a new go-to-market strategy that includes enterprise and national accounts, strategic channel partnerships, and merchant direct acquisition models. Additional accomplishments include an enhanced platform design that scales and expands processing margins, an automated merchant application and underwriting engine, and the creation of enhanced demand generation architectures, brand positioning, business intelligence, and a company values project.

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Eric Lookhoff, Chief Executive Officer, QuickFee (Photo: Business Wire)

“We are delighted to have someone of Eric’s caliber 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,” said Barry Lewin, Chairman of QuickFee.

In his new role, Lookhoff plans to build upon QuickFee’s existing payment solutions, which have traditionally served a growing portfolio of enterprise professional service firms. The product suite will expand to other segments of the services sector, including commercial and personal services, which opens new markets and higher-yielding products. To achieve this, QuickFee is constructing four pillars of increased strategic capabilities:

  • a robust and effective go-to-market strategy underpinned by brand positioning, precision demand generation, and high-velocity sales conversion
  • a highly scalable and user-friendly processing platform
  • an improved economic model which is expected to deliver greater transactional margins and higher processing yields across lending and payments
  • a highly engaged, experienced, motivated, and performing team of payments and lending professionals

Lookhoff assumes the CEO role from Founder Bruce Coombes who led the company through several important milestones, including its entry into the US market, the launch of its rapidly growing Credit Card & EFT/ACH products, and QuickFee’s Financing and Buy Now Pay Later installment solutions. He also spearheaded securing significant growth funding from a major Australian finance company and the successful listing of QuickFee on the Australian Securities Exchange in July 2019. Coombes will take on the role of Managing Director, Australia and will continue to contribute significantly to QuickFee as an Executive Director on the Board.

“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 be involved in 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,” said Coombes.

“I am deeply honored and incredibly excited to lead this next stage of QuickFee’s growth as CEO, and to build upon the company’s strong foundation. Bruce’s support in developing new go-to-market, operational, and platform strategies has been immeasurable, and I look forward to executing on our plan to accelerate growth and drive increased shareholder value together,” said Lookhoff.

About QuickFee Ltd (ASX: QFE)

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 (BNPL)” installment plan.

QuickFee currently operates in the United States and Australia. For more information, visit www.quickfee.com

Bonnie Moss bonnie@mossnetworks.com 818-995-8127

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