Purple Circle celebrates $4bn settlement milestone

The group had seen strong growth over the year, with brokers having achieved close to $2 billion in settlements over the 2023 financial year (ended June 2023). Its broker members have been settling in excess of $1 million per month, it recently noted.

Founder Greg Pennells welcomed the milestone achievement, stating: “The hard work put in by our team throughout the previous years propelled us to shatter all records in the calendar year 2023.”

He flagged that while broker numbers had grown by 53 per cent, loan settlements had “surged by an astounding 86.52 per cent”, which he said built upon the success of the preceding “record-breaking year”.

Mr Pennells continued: “Our Purple Circle members have the opportunity to obtain ownership in their aggregator, providing them with a genuine stake in the journey and rewards.

“Coupled with this distinctive share ownership structure, we have dedicated substantial resources to enhance our service proposition. As a team, we see ourselves as stewards, actively working to safeguard our members’ interests within the group. This entails creating various forms of value, including financial, relational, reputational, intellectual property, social impact, and talent.

“We are committed to staying innovative by continually developing a portfolio of appealing offerings and support structures for our members.”

[Related: Purple Circle reveals record settlements]