Squirrel

Office address: 29 Sale Street, Auckland CBD, Auckland 1010
Website: www.squirrel.co.nz
Year established: 2008
Company type: financial services
Employees: 90+
Expertise: mortgage broker, property experts, financial services, investments, peer to peer lending, personal loans, home loans, term investments, property investing, property development funding, bridging finance, first home buyers, turnkey lending, construction loans, land banking
Parent company: N/A
Key people: David Cunningham (CEO), John Bolton (founder and head of mortgages), Colin Gardyne (CTO), Dave Tyrer (COO), Ruth Hamlin (CMO), Tim Bowen (CFO), Tony Lane (CRO)
Financing status: N/A

Squirrel, headquartered in Auckland, stands out in the mortgage industry with a unique peer-to-peer lending model. With over 90 employees across three locations, Squirrel has arranged over $20 billion in mortgages and assisted 50,000 customers. The company has a network of over 5,000 peer-to-peer lenders, offering a diverse range of financial services such as mortgage broking, lending, and investments.

History of Squirrel

Squirrel was founded by John Bolton in January 2008 amidst the Global Financial Crisis, with a mission to advocate for homebuyers. In 2012, the company expanded its reach by launching a specialist team to service Auckland’s Indian communities. Squirrel Money, the sister company, launched New Zealand's first retail investor-funded peer-to-peer lending platform in 2015, then combined with Squirrel to become one in 2018.

In 2019, Squirrel introduced peer-to-peer mortgage products, significantly growing the lending platform. The company continued to innovate by launching Launchpad in 2021, aiding first-home buyers and investors. In 2022, David Cunningham succeeded Bolton as CEO, while Squirrel merged with The Home Loan Shop, expanding its market presence.

Products and Services of Squirrel

Squirrel offers a wide range of mortgage and financial services, catering to various customer needs:

• first home buyers: tailored mortgage solutions for individuals purchasing their first home
• moving and bridging: financial support for customers transitioning between homes
• investing in property: mortgage options designed for property investors
• development finance: funding solutions for property developers
• building new: loans specifically for new home constructions
• tiny house loan: unique financing options for tiny house buyers
• personal loan for homeowners: unsecured personal loans for those with home equity
• refinance: mortgage refinancing solutions to improve loan terms

Culture at Squirrel

Squirrel promotes a company culture that values people and authenticity. The work environment encourages curiosity, fairness, and freedom, creating a genuinely friendly and informal atmosphere. Employees share a collective passion for challenging conventional practices, contributing to a strong and supportive workplace culture, with benefits including:

• professional development and training opportunities
• personal and workplace support programs and 'Lunch and Learn' sessions
• access to confidential counselling services through EAP
• annual selection of charities and causes to support
• additional two days of annual leave, life insurance, and maternity leave
• inclusive and diverse work environment
• reduction of carbon footprint
• a solar-powered office and recycling policy for used hardware

Squirrel is dedicated to supporting parents by providing resources and activities that entertain their children. The company recognises the importance of a family-friendly workplace and actively promotes initiatives that benefit both employees and their families. These efforts include the following specific initiatives:

• regular family-friendly events and outings
• special holiday-themed activities for kids
• on-site childcare options and services
• flexible working arrangements for parents
• access to educational resources and materials for children
• audio stories like "The Velveteen Rabbit," "Rumplestiltskin," and "The Frog Prince"
• simple recipes for kids, such as homemade pizza and instant ice cream
• craft ideas including colouring sheets and DIY play dough

About Squirrel CEO David Cunningham and Key People

David Cunningham has served as Squirrel's CEO since 2022. His extensive work history includes being CEO at The Co-operative Bank, regional manager at Westpac, and GM of risk management at Trust Bank, among others. Cunningham earned a BCA in accounting from Victoria University of Wellington and graduated from Rathkeale College, Masterton.

The following key people assist the CEO in operating the company:

• John Bolton, as founder and head of mortgages, leads the company's mortgage operations and strategic direction
• Colin Gardyne, chief technology officer, manages the company's technological infrastructure and innovation
• Dave Tyrer, as a COO, oversees daily operations and ensures operational efficiency
• Ruth Hamlin, a chief marketing officer, directs marketing strategies and brand development
• Tim Bowen, serving as CFO, handles financial planning, analysis, and reporting
• Tony Lane, as chief risk officer, is responsible for risk management and regulatory compliance

The Future at Squirrel

Squirrel is actively expanding its market presence and product offerings through strategic mergers and innovative financial products. The acquisition of The Home Loan Shop in 2022 and the latter’s rebranding into Squirrel enhances the company’s advisory capabilities and unification. This merger signifies the firm’s commitment to expanding its footprint and delivering comprehensive financial solutions.

Additionally, in 2023, Squirrel introduced a high-interest on-call account as an evolution of their investment platform, attracting more investors and diversifying revenue streams. These initiatives collectively strengthen Squirrel's market position and enhance customer satisfaction. Looking ahead, Squirrel's growth and new products will help the company succeed and lead in the changing mortgage market.