The appointment comes shortly after Loopit raised $3.6 million in funding in its first external capital raise.

Mr Idel will be based in Sydney, leading the company’s product development globally and supporting plans for further expansion this year.

He is a seasoned product leader and an expert in delivering high-growth digital products in both national and international markets while managing teams across the entire product lifecycle.

Mr Idel brings with him more than 15 years of experience enabling and creating digital products and experiences for leading brands including Qantas, Telstra, Vodafone, BP, Johnson and Johnson, Kellogg’s, Corelogic, IAG and UNSW.

Loopit co-founder and managing director Michael Higgins said Mr Idel’s extensive experience, knowledge and expertise will add immense value to the company’s product development and vision.

“We are delighted to welcome Nima to the Loopit team, and are very excited about the wealth of knowledge he brings to the company,” Mr Higgins said.

“He has joined the business at a significant period, as we embark on a new phase of growth, aided by fresh capital to further develop our award-winning technology platform.

“Enhancing our product offering to match the rapidly evolving subscription landscape will ensure we continue to meet growing customer demand and our ambitious expansion plans.”

In his most recent role, Mr Idel led the product development at Australian technology startup Archistar.ai, where he was responsible for scaling the products, design and data teams, delivering on company strategy and aligning product squads and roadmaps as well as scaling the culture and processes of the business.

Mr Idel said: “I am thrilled to join the Loopit team and proud to be part of an innovative, Australian technology company. I’m excited about the possibilities and capabilities of Loopit, and truly believe in the huge growth opportunity the business has in the next few years.

“As a product leader and coach, I am passionate about helping people to experiment, innovate and push the limits of what’s possible.

“As demand for vehicle subscription rises, I look forward to leading the strong product team we have in place and fostering the development of product managers, designers and engineers who can compete on a global scale.”

Loopit provides a Software-as-a-Service (SaaS) platform for car dealerships, resellers, and manufacturers to offer their own vehicle subscription services to customers.

It provides dealerships with “subscription in a box” including the software, training and services needed to offer car subscription to customers simply and easily.

Loopit now powers 80 per cent of Australia’s car subscription market. It launched in New Zealand in 2020, partnering with New Zealand’s leading vehicle distribution and dealer group, The Giltrap Group and global car rental giant Sixt and expanded into the United Kingdom last year.

By Neil Dowling