The Silicon Review - Best Business Review Magazine 50 Most Trustworthy Companies 2019 | Page 87

Kristjan Novitski: An Aspiring Entrepreneur
Kristjan Novitski is the founder of Cash On Go Ltd, one of the leading
innovators in the lending space. For the last nine years, he and his team
have presented several innovative solutions to the industry. He has been
exceptionally successful in integrating innovation to the most traditional
financial services world without compromising on customer satisfaction and
responsible lending.
In 2010, at 27, he set up his first short term credit brand Peachy.co.uk. He
came up with the name ‘Peachy’ because of its positive connotations – “life
is peachy!” He wanted “to create a feeling” and with a name like Peachy it
opened up the potential for diversification under this dynamic brand, to
match the dynamic world we live in.
Kristjan believes that a sustainable lending business can only be built around
the ethos of offering responsible, tailor-made, easy to use, and affordable
loans to the consumers. It is not about quantity but always about quality.
short-term credit brands on the
UK market; we were doubling our
growth year after year. Rapid growth
with tightening regulation was the
reason why at one point we had to
take a step back and turn our focus
to the other side, slightly. During this
fast-growing phase, we had lost our
focus on the other very important
aspects of business such as stability,
sustainability, and long-term vision. In
2017, Cash On Go was one week away
from filing for administration.
Regardless of that, we can say that
we have had our ups and downs and
some really difficult times but we did
not deviate from our goal. Set your
goals and stick to them. Have trust
in your team and lift them up when
needed.
Is your company a leader or
a follower? Do you formulate
your own core values?
We like to keep us very tech-savvy
and are eager to test new solutions as
well as bring new technology to the
lending market. In 2011, we were the
first company in the PayDay lending
sector to introduce apps and a mobile
website. In 2012, we were the first
online installment lender, offering
loans online to be paid back in up to
12 months-- something the whole
industry has shifted to since then.
Since 2018, we have invested a lot in
big data in order to be more targeted,
more personal in each department as
well as become the first online lender
in the UK to offer instant loans to our
customers 24/7 365.
What do you feel are
the reasons behind your
company’s reputation?
I would like to think that it has been
our genuine and sincere approach to
everything we do and how we would
like to be treated. We are completely
open and honest with our customers
and partners – this is what we are
and that is what we do, no faking or
wearing any masks.
Moreover, there are several factors
that have played key roles in shaping
our organization’s road map,
including and not limited to these:
•
•
•
Regulation – There are constant
changes in the regulatory
environment for financial service
providers.
Political pressure and media
attention – One company in the
industry can earn a bad name for
all the players.
New technology – It can be both
ways. Sometimes you see a lot
Kristjan Novitski, Founder
of potential in new technology,
but the customers do not adapt
to it, sometimes a new solution
emerges all of the sudden and
changes the way you were used to
running your business.
We have always operated in a way
where we were honest to ourselves
and our values; not sacrificing them
for short-term profits.
Where do you see your
company a couple of years
from now?
During the last 12 month, we have
been growing as a business again
more than three times and our aim
is to keep that kind of growth intact
for the months coming. Growing
double-digit percentage on a monthly
basis puts a lot of pressure on every
single nut and bolt in the business,
but with such a great team, we
have been able to pull this off and
do it in a sustainable way, without
compromising the interests of our
customers as well as the wishes of our
team. For a company to grow at such
a pace on a saturated market means
we have to excel in every aspect of the
business and continuously challenge
everything we do.
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