Search Result: getcapital

Prospa raises $20m from Partners for Growth

Online business lender Prospa has raised $20 million from Silicon Valley-based Partners for Growth through a tailored debt facility that will allow it to ramp up loans and further develop its technology allowing credit assessments to be made in seconds. Prospa, which has lent more than $400 million to small businesses, up from $250 million in February after a strong fourth quarter, has deals with 4000 distribution partners, including finance brokers and cloud accounting platforms. It also has a referral partnership with Westpac Banking Corp. Prospa chief financial officer Ed Bigazzi said some of the new capital will be used for product development, including in invoice financing, and a stronger […]

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Feb
27

M&A in online business lending sector tipped as banks move in

Mergers and acquisitions in the alternative small business lending sector are inevitable in 2017 as investors in fledgling start-ups push for scale to achieve profitability faster, according to David Goldin, global chief executive of one of those online lenders, Capify. Mr Goldin is one of several leaders of the alternative finance scene in Sydney for Monday’s AltFi Australasia Summit, which will be addressed by ANZ Banking Group chief executive Shayne Elliott. The Australian Financial Review understands ANZ is conducting due diligence on local SME lender Moula with an eye to forming a partnership that would bring Moula into a network of start-ups that ANZ is building to assist small business […]

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Feb
27

M&A in online business lending sector tipped as banks move in

Mergers and acquisitions in the alternative small business lending sector are inevitable in 2017 as investors in fledgling start-ups push for scale to achieve profitability faster, according to David Goldin, global chief executive of one of those online lenders, Capify. Mr Goldin is one of several leaders of the alternative finance scene in Sydney for Monday’s AltFi Australasia Summit, which will be addressed by ANZ Banking Group chief executive Shayne Elliott. The Australian Financial Review understands ANZ is conducting due diligence on local SME lender Moula with an eye to forming a partnership that would bring Moula into a network of start-ups that ANZ is building to assist small business […]

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Sep
27

How partnerships are driving this fintech lender forward

Small business lender GetCapital is utilising strategic partnerships to benefit its customers. Fintech companies were originally thought of as disruptors, but as the game continues the rules are starting to change. Today, you’re more likely to see banks and corporates building bridges with fintech companies rather than putting up defensive walls. This is the case for GetCapital, a small business lender sharing its reins with business heavyweights such as Qantas and Alibaba. Established in 2013, GetCapital started providing standard small business loans to Australian businesses and has now diversified it to include trade finance and invoice discounting. GetCapital CEO Jamie Osborn says the idea is to provide an online small business […]

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