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 […]
Prospa reaches $200 million milestone
Australian leading fintech, Prospa, announced the company has hit $200 million in loan originations – cementing itself as the leading force in Australia’s non-bank finance sector. The milestone announcement coincides with the company securing additional capital from a large local institutional funder for its latest financing round, taking total capital raised to over $100 million. Beau Bertoli, Joint CEO of Prospa, said the additional $50 million debt capital raising is part of Prospa’s strategy to scale operations. “This is a significant milestone for our business. It means we can meet increasing demand from small businesses for fast, easy access to finance. And it means we can continue […]
Prospa and The Entourage combine to inspire small business owners
Prospa, Australia’s largest online lender to small business, has launched an innovative partnership with educator The Entourage that enables business owners and budding entrepreneurs to fund education through their business cashflow. The partnership will enable business owners to access The Entourage’s Launch, Build and Scale education programs and advice from leading entrepreneurs using an interest free loan from Prospa, instead of a large upfront payment, credit card or expensive personal loan. Beau Bertoli Joint CEO of Prospa said “It’s amazing that two of Australia’s entrepreneurial success stories are partnering to offer Australian small business owners and fledgling entrepreneurs access to finance and education. “Prospa and The Entourage have the same […]
Westpac trials Prospa tie-up
It is great to see that the big banks in Australia are starting to support our FinTech companies. Lets hope that the this announcement encourages some of the other banks to get in and trial a partnership with an up and coming technology. Westpac has begun quietly trialling a partnership with online small business lender Prospa, signalling a growing willingness by the big four banks to embrace working with the rapidly emerging “fintech” industry. Source: Westpac trials Prospa tie-up
Carlyle backs Prospa securitisation to boost SME lending
This is great news for Australian FinTech company Prospa. It’s also a very positive sign to see global companies investing in Australian FinTech companies – it appears others are starting to see the potential here in Australia. Global alternative asset manager the Carlyle Group has invested $50 million in the first securitisation deal in Australia of unsecured, online business loans, which will allow Prospa to step up its small-business lending as the big banks overlook the sector. The securitisation deal, which is only the third globally in the online business lending category, is part of a $60 million capital raising that was also supported by Ironbridge Capital, AirTree Ventures, and […]
The Finalists of the 2024 Finnies awards have been announced
The finalists for Australia’s 2024 Finnies fintech business awards have been announced.
Leading loan comparison disruptor gears up for New Zealand launch
LoanOptions.ai is expanding its service to New Zealand as the country’s first-ever loan comparison platform powered by AI.
