Meet the Team: Co-founder and COO, Cary Cheung

September 09, 2019

Now you have read a little about co-founder Josh, we wanted to give you a bit of insight into the highly ambitious, inquisitive and has the energy that keeps him working into the early hours putting his ideas into action. 

Here is a little bit about Cary and his various motivations, experience and where he wants to take MoneyLoop.

Meet Cary

I have a background in Banking and Finance. I spent the first few years of my university life juggling a Cadetship with PricewaterhouseCoopers and studying a Bachelor of Commerce (Finance & Accounting majors) at UNSW.

Subsequently, I landed a position with Westpac's prestigious Graduate program and worked in the Capital Advisory team within Westpac's Institutional Bank, delivering capital structuring and M&A advisory to the bank's suite of instructional customers. I then worked for Ventia, a $2B Telecommunications and Infrastructure Services business in their Group Strategy and M&A team.

I am a sports nut and love exercising, whether it is at the gym, playing tennis or yoga practice. If I'm not moving and sweating, I am probably indulging in watching sport - I am a massive NBA fan and follow the tennis circuit all season round. I love a good mental challenge (and very competitive) so I enjoy trivia and games shows. I love travelling also and visiting far flung places around the globe! One of my most memorable trips was going to Peru, Cuba and being in Mexico during the World Cup last year! Now that is a country that oozes passion! 

Getting the notches on his belt

My 'traditional banking experience' was fantastic. My boss provided me with amazing guidance and he taught me a lot from a technical perspective - financial modelling, capital structuring and corporate finance. My experience also helped me develop my commercial acumen as I was exposed to [important? high-level? C-suite] issues and [considerations] that executives dealt with on a day-to-day basis. My understanding of business was greatly enhanced as I was exposed to a variety of industries, including Insurance, Property, Infrastructure, Retail, Industrials and Health. The best part of my banking experience was having the customer lens. My role enabled me to speak to a variety of customers, from sole proprietors at privately owned dental clinics to C-Suite executives at ASX Top 100 corporates and governments.  

Why MoneyLoop

There's nothing I love more than business and helping people grow and prosper. I love putting myself in the shoes of the customers and finding ways to improve the experience. 

This is why I joined MoneyLoop. I view MoneyLoop as ultimately being THE way that people can fund their excesses during their greatest time of need. Josh is a fantastic operator with a brilliant mind. His technology skills and vision were why I joined MoneyLoop. I continue to get excited and motivated as I believe in the product and we are a great team. Our skillsets complement each other well, with Josh's expertise in technology and start-ups and my expertise in finance, strategy and commercial experience. 

For me, this was the perfect opportunity to make the greatest impact. The ability to help Australians in their greatest time of need was tremendously empowering to me. The opportunity to reshape the way the insurance sector works was also a large factor. I believe that MoneyLoop not only has the powerful ability to empower insurers, but also has the ability to help their customers when they need it most.

It will change insurers forever - we will help insurers reduce churn, reduce claims management expenses and most importantly, provide a fantastic customer experience.

“The key is to set realistic customer expectations, and then not to just meet them, but to exceed them – preferably in unexpected and helpful ways.”

Richard Branson

We want to "partner" with insurers to help them achieve operational efficiencies. That is a pretty worthwhile goal on top of helping Australians.

Financial learnings

Working in finance has provided me with deep understanding of how businesses grow and prosper, become unicorns and become bankrupt. There are so many lessons that I have taken with me and I am excited about guiding MoneyLoop through its next phases of growth. 

What I love doing is developing our funding facilities and capital requirements - this is usually a challenging piece of the puzzle however I really enjoy the challenge. A great team of advisors supports MoneyLoop, mentors and investors and we are all excited to working collaboratively to empower insurers in providing our product to help the lives of all Australians.

Start-up Vs Institution

Working in a start-up has exceeded all my expectations. The largest difference is the pace at which I can cultivate growth and change. In addition, my role at MoneyLoop is constantly changing. I could be talking to investors, speaking to our advisors, coaching my team, supporting our customers, speaking to an individual who has a MoneyLoop product, devising strategy and iterating our product - all on one given day!

I am committed to learning and growing on an individual and organisational basis - this involves me learning something new every single day! This is very different to a banking / corporate world where individual is focused on one particular function and are a "cog in the wheel"  

Here I am empowered to identify and solve problems. I am empowered to experiment. I have the opportunity to try new things. But most importantly, on a macro scale I have the ability to change the way insurers operate and on a micro level how customers deal with insurers.

Advice to other start-ups

Just trust your heart and go for it! It can be scary stepping into the unknown, but if you think that you have an opportunity to add value, impact change and make a bigger difference, then dive in headfirst. Remember, there is no time like the present.

Make sure you connect and speak to people who are in the industry and are trying to disrupt. Reach out and chat! Your unique experiences, thoughts and ideas will always well be received.


I think Phil Knight, the founder of Nike, is a great example of how far perseverance and self-belief can take you. Even when Nike was battling through its toughest times, facing lack of cash flow and encountering issues with product, Phil continued to be a leader in innovation. For example, when it came to marketing, he started endorsing athletes with sports sponsorships, or when he needed to source new suppliers, he went to geographies which had not been chartered before. 

So, as you can see Cary has vision, drive and is passionate about making a difference.

We look forward to sharing our journey with you and sharing the stories of the customers and insurers we aim to help.