Minister for Small Business, Innovation and Trade Philip Dalidakis today congratulated two Victorian startup companies, LOKE and Timelio, on their plans to create 100 new jobs in Melbourne.
Based in Cremorne, one of inner Melbourne’s leading creative hubs, LOKE has developed a cloud-based mobile payment and loyalty platform that enables merchants to deploy and manage their own branded loyalty product.
LOKE has just opened funding to raise $1 million that will help facilitate the creation of 50 new jobs over the next three years. This follows a recent announcement that the company will partner with leading digital payment giant PayPal to enable customers to connect their existing PayPal account with any of LOKE’s apps for both in-store and in-app purchases.
As a player in the rapidly expanding financial technologies sector, Timelio’s unique peer-to-peer lending platform enables Australian businesses to raise funds by selling their customer invoices.
Timelio’s service is primarily designed for small to medium enterprises that require cash flow but typically have to wait up to 90 days for their corporate clients to settle invoices.
Mr Dalidakis said he was glad that LOKE and Timelio were able to receive the support they needed through the large network of Victorian Government Business Offices (VGBOs) to grow their businesses in Victoria.
Today’s news comes less than a fortnight after Mr Dalidakis announced LaunchVic, a $60 million startup fund, which will be a peak body for the startup sector supporting Victoria’s best entrepreneurs to develop, incubate and grow early-stage innovative businesses.
Quotes attributable to Minister for Small Business, Innovation and Trade, Philip Dalidakis
“Timelio and LOKE are two great examples of Victorian startups getting the right support to expand their workforce and tap into global markets.”
“We want Victoria to be the location of choice for startups worldwide, and our $60 million LaunchVic initiative will make it happen.”
“This is about investing in people and ideas, here in Victoria, to create jobs and boost industries for decades to come.”
Quotes from Timelio Founder and Director, Charlotte Petris
“Having the support of the Victorian Government as we expand and grow our team, enables us to choose from the best talent as the ecosystem generated by their initiatives attracts skilled workers.”
Quotes from LOKE Group Managing Director, Matt Khoury
“Melbourne is the perfect setting for startups and being located here has been central to the development of LOKE’s vision to pioneer the way customers pay with their phone and earn loyalty.”
Originally published by Victoria State Government