Stephen Ellis

No capital to be tied up by the tenant.

And currently, we have over 100 landlords across the country, retailers, logistic companies, lawyers, restaurateurs.

A strong advocate of ours would be someone like Neil Perry.

who opened the Margaret restaurant in Double Bay.

He used our lease bond as lease security for the landlord.

And it meant that he could put the money into his business and use it more effectively to grow his Margaret restaurant chain.

So really any business where they're looking to use their capital more effectively in growing their business rather than having it tied up in a bank.

Well, traditionally, bank guarantees have always come in a paper form.

And of course, in today's world, everything's being done digitally.

And it makes a lot of sense to issue security via a digital platform.

It gives better security.

We've heard cases where bank guarantees have been copied.

In fact, there's a case only a couple of years ago, and they indeed copied a bank guarantee.

And when the landlord went to cash the bank guarantee, because these documents are effectively open cheques,

they found the bank wasn't prepared to cash it because they said this was fraudulent.

So paper is really an old-fashioned way of doing business.

And of course, there's a lot more security that you can surround through a digital platform like eGuarantee has in place than there is in doing paper guarantees.

Well, that's one of the challenges that we have because a lot of landlords are very used to doing things in a traditional way.

So to introduce something new, we obviously have to make sure that we have something which is plausible, authentic,

And so we have standing behind us an issuer in HCI, Global Specialty Insurance.