Australian financial tech behemoth Afterpay has marked its expansion into Asia with the acquisition of a credit company founded by Griffith University graduate Jamie Camidge.
Jamie graduated from a Bachelor of International Business in 2004 and founded Indonesia-based buy now, pay later credit company EmpatKali not long after moving to Jakarta in 2018.
“Indonesia is one of those massively complicated markets – full of opportunity and challenges in equal measure,” Jamie said.
“We started EmpatKali because we could see strong growth in online transacting in Indonesia with a population that has little access to affordable credit.”
Since officially opening in July 2019 the company has enjoyed growth of more than 50 per cent month-on-month, with Jamie citing COVID-19 as a key factor.
He has described the acquisition by Afterpay as “a dream come true”.
“We spent more than a year talking with the Afterpay founders and some of their executives,” he said.
“Although the acquisition is still pretty fresh, the work has only just begun.
“We have a steep set of expectations to deliver and we are ramping up fast to achieve those.”
As the Afterpay Head of Indonesia, Jamie will remain in the South East Asian country for a few more years to ensure EmpatKali delivers on commitments to Afterpay, which include the finalisation of the company’s credit license from the Indonesian Financial Services Authority.
Prior to setting up EmpatKali, Jamie spent more than six years at Telstra in roles such as director of strategy and said success did not come without hard work.
“Do not be a wallflower,” he said.
“Put your hand up for more at every point of your career.”
Reflecting on his journey, the entrepreneur said his time studying at Griffith provided valuable lessons which were still relevant.
“My most memorable Griffith lecturers taught me resilience – by challenging my thinking and assumptions – which would prove extremely beneficial in my career,” Jamie said.
“One particular lecturer, Dr Bert Cunnington, was a thought leader who never coddled anyone.
“He had a Socratic teaching method, he pushed everyone to think critically and was unapologetic about being tough.
“This held me in good stead when entering the business world and eventually leading my own company.”
While not afraid to put in the hard yards, in study or in business, Jamie agreed it was also important not to lose sight of what life is about.
“Life is so much better when you focus on what you are good at and when you are generous to those around you.”