Earlytrade
, the Australian Fintech service provider revealed the appointment of a new head of strategy. As per statement from the firm released earlier this month, it has on-boarded Mr. Fady Daher as its new General Manager, Head of Strategy. Mr. Daher will be based out of Earlytrade’s Sydney office and serve as part of senior-level executive committee. In his new role as head of strategy, Mr. Daher will be responsible for the firm’s growth and development operations while ensuring that the growth efforts align with the firm’s mission of becoming the largest ethical and sustainable alternative to reverse factoring and supply chain finance mechanism. Mr Daher spent most of the entirety of his 19 year long career serving under New York-based multinational financial service provider American Express as per information in his LinkedIn profile.
Fady joined American Express back in January of 2001 as Senior Manager of Payment Consulting division for Australia, New Zealand and South Pacific market region. During his multi-decade long term with AMEX, he has served in numerous senior-level roles namely – Director of Account Development, Business Travel & Corporate Services division, Head of Middle Market and Merchant Services, Client Management and Vice President of Client Management, Retail & B2B, Acquisition, Global Corporate Payments and General Manager of Global Commercial Services unit for Asia Pacific region.
Commenting on his new role at the firm Mr. Daher said, “What Guy and the Earlytrade team have built to date is exceptional. I am excited to help them continue scaling their network and client base across Asia Pacific”.
Speaking about Fady’s addition to leadership team, Guy Saxelby – CEO & Co-Founder of the firm said, “We are pleased to welcome Fady Daher to the team. Fady has developed a strong pattern recognition in this market from his 25 plus years growing the Amex business here. We’re looking forward to leveraging his experience across our client and product portfolios”
The fintech firm was founded by technology entrepreneur, Guy Saxelby and ex-ASX product manager, Piers Symons back in 2016 and operates Australia’s largest early payment marketplace with over 36,000 businesses. The key difference between the Earlytrade Marketplace model and other reverse factoring models in the current market is that the model is entirely supplier-driven. If suppliers require funding before their contractually agreed payment date, they can access an alternative source of liquidity via the marketplace at rates which are considerably lower than bank financing thereby creating real value for suppliers. Earlytrade’s Marketplace matches a committed supply of working capital from customers and the demand for early payment from all their suppliers. It should also be noted that the firm does not mine big data or use AI to collect detailed information on the contents of supplier invoices. This is important as it allows Earlytrade’s marketplace to be neutral, with supply and demand driving rates.
