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 […]
Prospa’s Telstra Business Award win puts the fintech sector ‘on the map’, says co-founder
Online small business loan provider Prospa has become the first fintech company to win Telstra’s NSW Medium Business Award, with co-CEO Beau Bertoli stating that the accolade shows fintech is “no longer just some startup idea”. Bertoli, who founded Prospa with Greg Moshal in 2011, spoke to Dynamic Business about the five-year-old company’s victory at the 2017 NSW Telstra Business Awards. DB:What does the win mean for Prospa and how useful was the experience? Bertoli: We were a Telstra Business Awards finalist in 2015 and 2016, which was very encouraging but it meant there was room for improvement. We’re pumped to have taken out the crown this year – third […]
Prospa announced as NSW state winner in 2017 Telstra Business Awards
Prospa, Australia’s leading online lender to small business, has been awarded the 2017 Telstra New South Wales Medium Business Award in the 2017 Telstra Business Awards. Prospa is the first fintech company to be awarded the accolade and this year’s win follows the company’s third consecutive appearance as a finalist at the Telstra Business Awards. Over the past five years, Prospa has disrupted a previously traditional industry by transforming the way small business owners experience finance, injecting more than $400m into the Australian small business economy through over 12,000 loans to small business owners. Alongside this growth, Prospa has maintained extremely high customer satisfaction of over 90%, as well as […]
Prospa named as finalist in Telstra Business Awards for third year in a row
For the third year running, Prospa, Australia’s leading online lender to small business, is proud to have been named as a finalist in the Telstra Business Awards. Prospa is a finalist in the NSW Medium Business category, having grown significantly since 2015 when the company was first shortlisted for the Small Business Award. Over the past five years, Prospa has transformed the way small business owners experience finance, injecting more than $350m into the Australian small business economy through over 10,000 loans to small business owners. Alongside this growth, Prospa has maintained extremely high customer satisfaction of over 90%, as well as forming strategic partnerships with Westpac, Reckon and IAG, […]
NRMA Business Insurance partners with Prospa to lend a hand to small business owners
With cash flow and financial responsibilities being two of the most common things keeping business owners awake at night, NRMA Business Insurance has entered into a pilot partnership with small business lender Prospa to offer customers a faster, simpler finance solution. Prospa is an online small business lender and one of the fastest growing technology businesses in the country. It offers small business owners the flexibility and ease of accessing business loans between $5,000 to $250,000 online, with approval within a day. Through the partnership, NRMA Business Insurance customers can now access Prospa’s lending services alongside other benefits offered by the insurer, such as free online tax and […]
Prospa secures $25M in funding led by AirTree Ventures; Passes $250 Million in Loans to Small Business
Prospa, Australia’s leading online lender to small business, has secured $25M in growth funding led by AirTree Ventures – Australia’s most successful tech-focused venture capital firm. The deal is the largest fintech venture capital investment in an Australian business. Prospa also announced it had passed $250 Million in total loans to small businesses in Australia. The investment comes after a period of significant growth for Prospa who is now the clear market leader for online lending to small businesses in Australia. Prospa will use the funds to accelerate its market leadership: boosting technology, product expansion and distribution, ramping up talent acquisition and building a world-class brand. Greg Moshal, Founder and […]
Mortgage Choice joins forces with leading online lender Prospa
In a bid to better cater to the growing commercial needs of its customers, Mortgage Choice has added Australia’s leading online lender, Prospa, to its panel. “We are very excited to announce that we have partnered with Prospa to help us deliver a broader range of commercial lending and cash flow financing solutions to our customers,” said Mortgage Choice’s general manager of product Emma Dupont-Brown (pictured above with Prospa’s Matt Bauld). “Prospa is the leader in online small business lending, utilising their smart proprietary technology platform to quickly assess online applications for unsecured loans up to $250,000. “A significant proportion of our customers are small business owners who have very specific commercial […]
Prospa takes first place in Smart50 Awards
Prospa took out first place at the Smart50 Awards in Melbourne last night. The Awards recognise Australia’s top 50 fastest growing SMEs and were dominated by fintechs and retailers. Prospa was awarded first place with incredible growth of more than 1000% over the past three years. “We are thrilled to be named #1 in Australia,” said Beau Bertoli, Joint CEO of Prospa. “Winning demonstrates that we understand the finance needs of small businesses. However this is just the beginning of our journey. We’ll continue to innovate and create ground breaking finance experiences to help Australian small businesses succeed.” “We’re the leading online lender to small business […]
