Prospa set to shake up small business finance with transformative brand and bold business strategy

Australia’s leading online small business lender, Prospa, today unveiled its new progressive brand, signifying a new era in small business financial management services. Prospa aims to rival the major banks by expanding its product portfolio with the launch of what will become the country’s first non-bank all-in-one Business Account for small business, revolutionising the financial management landscape for small businesses.

Prospa CEO and Co-Founder Greg Moshal says the past three years have been a time of great change for small businesses, with shifts in the challenges they’re facing, the solutions they need and their outlooks for the future.

“Over the past 10 years, Prospa has put our knowledge and understanding of small business to work. We’ve continued to invest in research, and listened to our customers, which has prepared us for the next 10 years of growth. We know small business owners are time poor and using an average of six to eight apps for day-to-day financial management, and that access to working capital is still the biggest issue they face. It’s why we’ve introduced the Prospa Business Account.

“The Business Account is the next step in our evolution and underpins our commitment to help unleash small business potential, through our simple, seamless, and stress-free financial management platform. Prospa will continue to disrupt traditional banks with cutting-edge, technology driven solutions that will elevate customer interactions and create brilliant experiences.”

With its established reputation as one of Australia and New Zealand’s fastest growing and trustworthy financial providers, Prospa’s expanded product offering transforms the company from #1 online lender to financial services partner of choice for small businesses. The Prospa Business Account includes the ability to make instant payments, a Visa Business Debit Card, a 24/7 holistic view of all Prospa financial accounts via desktop or mobile app and the upcoming overdraft, currently in pilot phase.

Prospa has a decade-long history of revolutionising small business finances, having loaned over $3 billion to small businesses in Australia and New Zealand, and has helped thousands of small businesses unleash their potential. Prospa is dedicated to deeply understanding the unique challenges faced by small businesses and delivering solutions that address their pain points.

Moshal said, “From day one, we have aimed to give our customers an experience that is not just a little bit better, but 10 times better. It’s why we invest in deeply understanding our customers and what pain points small businesses have – and what the traditional banks aren’t solving.”

With the new Prospa Business Account, businesses can:

• Manage cash flow all in one place, via a free, easy-to-use account with no minimum balance or deposits needed.
• Apply in minutes and start using your account straight away, including debit card payments via Apple Pay or Google Pay.
• Take advantage of near-instant payment methods at home or overseas, pay bills via BPAY or schedule payments in advance.