'Invest in your own network': PEXA swipes rivals as it passes $1 trillion milestone
The e-conveyancing company is launching its services in the Northern Territory on Friday, making its platform truly national 15 years after its founding.
PEXA's new chief executive has hit back at claims the e-conveyancer operates a monopoly and revealed it has passed through $1 trillion in transaction volume, as it unveils an expansion of its national footprint to include the Northern Territory.
In his first interview since becoming CEO in March, Russell Cohen told Capital Brief the company welcomes competition and that rival operators had failed to make the necessary investments to challenge it.
"We always envisioned there would be competition, and there's nothing in the regulations that would prohibit that," Cohen said.
"We realise we were the recipient of some really important COAG and state government initiatives early on... but very quickly after that, the landscape was laid for competitors to come into the space, but they never emerged."
