From a good idea to award-winning website and consumer champion. This is how one small business with big ideas is changing the face of the Australian finance industry and saving Australians serious money - one product at a time.
In the space of just a few years Mozo has gone from a good idea and three people working out of cafés to a game changer in the online financial space in Australia with a staff of 20 people and over 300,000 monthly visitors.
The Mozo seed was planted when founder Rohan Gamble realised there wasn't a simple way for Australian consumers to navigate the complex and often daunting money maze, so he set out to create an online marketplace for financial services.
After a year of tech development, the Mozo site was launched in October 2008. At its core was a staff of 5, a handful of freelancers, market leading comparison technology and switching tools (developed entirely inhouse), the world's first customer rating system for banking products and a proprietary database covering the retail banking market in depth across credit cards, home loans, personal loans, car loans, debit cards, savings accounts, term deposits, and transaction accounts and brimming with potential.
In 2009 Mozo won its first game-changing partnership. Partnering with Fairfax Digital to power its financial sites across the Fairfax Digital Network put Mozo on the map. Our full time staff increased to nine to cover the areas of marketing, commercial development and web development.
Mozo expanded its offering with the launch of the Student Room, Australia's first student banking portal and extending into other consumer finance areas such as car insurance, online share trading, margin loan as well as business banking comparisons. It also developed a suite of online calculators including the industry-first Rate Change Calculator and Rewards Revealer, the only credit card comparison tool which enables consumers to compare the value of rewards points. In December, Mozo joined forced with Choice to launch Compare, Ditch and Switch
We also became home to the coveted Mozo People's Choice Awards, Australia's only customer-voted banking awards, that give banking customers a real voice in the money marketplace and Australia's banking true stars the chance to shine.
Mozo went mobile and in keeping with the theme, launched our Travel Money Hub (another Australian first) including a travel insurance comparison tool, foreign exchange and travel cards comparison service to help people get better deals from providers even on the road. We also revamped our blog and stormed social media with activity on Twitter, Facebook, LinkedIn and Google+.
Mozo reached new heights in 2014 with the launch of the inaugural Mozo Experts Choice Awards, where our money experts crunched the numbers highlighting the best value products in the financial market across credit cards, home loans, travel insurance and more. We also launched a range of lifestyle money hubs to help everyone from families, first home buyers, to overseas jetsetters navigate the financial maze. And of course, we added a few awards to our cabinet like the Best Medium Business of 2014 and the Anthill Cool Award’s Number Crusher.
Here at Mozo, we are tackling one complex industry at a time. First we demystified the world of banking and now we've got our eyes set on the energy market. Our new energy comparison service crunches data on 1100 plans from 22 providers, providing users with an instant online price estimate for their area. Give it a try here.