The salary packaging and novated leasing sector is continuing to consolidate as Paywise announced the successful $40 million acquisition of EasiFleet (trading as Easi), expanding its national footprint and strengthening its position as a major player in employee benefits.
Paywise CEO Frank Agostino said the deal is about creating scale and combining strengths rather than fixing problems.
“This is about joining forces with a team we respect to build something even stronger,” Mr Agostino said. “Easi brings a strong brand, loyal client base, and a team that mirrors our own culture and ambition. This isn’t about fixing something broken – it’s the opposite. We acquired Easi because we believe in their team, their brand, and the value they deliver”.
Easi provides salary packaging and novated leasing services across Australia, with strong ties to both private and government sectors. The move gives Paywise a truly national presence, securing state government contracts in WA, NT, Tasmania, Queensland and the ACT – and positioning the business to bid for upcoming tenders in NSW and Victoria.
Easi CEO Scott Iriks highlighted the alignment between the two businesses:
“This partnership is built on mutual respect and shared values developed over years of conversation between our leadership teams,” Mr Iriks said. “Easi has built strong relationships with our clients and a reputation for excellence. Joining the Paywise family positions us to accelerate growth while maintaining the service standards our clients expect”.
Benefits of Scale
The novated leasing market has been growing rapidly, fuelled by the popularity of salary packaging and the Federal Government’s Electric Car Discount Bill, which removed FBT on EVs and made novated leasing one of the most tax-effective ways to own a new car.
Since being acquired by Fleet Network in 2023, Paywise has more than doubled its staff, expanded its member base from 20,000 to over 50,000, and nearly quadrupled the number of novated lease drivers from 3,000 to almost 11,000.
With Easi now on board, Paywise gains the scale to compete more effectively against larger providers, leverage stronger purchasing power with OEMs, and invest in technology to simplify salary packaging for employers and employees alike.
Mr Agostino emphasised that the integration will follow a people-first approach:
“We’re here to learn from Easi first and only add value where it’s constructive. Any future changes will be methodical, well-considered, and done in consultation with those affected. This is about building something stronger together, not disrupting what’s working well”.
Industry Consolidation
This acquisition reflects a broader trend of consolidation in the novated leasing and salary packaging industry. As demand surges for novated EVs and hybrids, scale and efficiency are increasingly critical. Larger providers are better placed to deliver competitive rates, manage government contracts, and support employers rolling out employee benefit programs nationwide.
For employees, consolidation brings stability, more choice in vehicles, and access to savings on everything from fuel and maintenance to insurance and electricity for EV charging. For employers, it reduces administrative burden and strengthens compliance with tax and payroll obligations.
Looking Ahead
With Paywise now integrated with Easi, the organisation is firmly positioned as one of the strongest challengers in the national salary packaging and novated leasing market. And with more Australians turning to novated leases to access EVs and reduce running costs, the scale achieved through this acquisition signals that competition is only set to intensify.
