Show me the Moula! Prospa competitor launches funding round

Online small business lender Moula has launched a Series D private funding round as it steps up efforts to steal customers from the big four banks.

Investor sources said the Melbourne-based company which counts Sherman Ma’s Liberty Financial as a shareholder was seeking growth capital and would consider new investors as part of its fourth cash call.

It is understood to be targeting a $20 million equity injection.Liberty, one of the country’s largest non-bank finance providers, holds a 20 per cent stake, while fund manager Acorn Capital controls about 9 per cent.Moula started lending in 2014 and was one of the pioneers in the online unsecured lending sector, where small businesses get quick access to flexible funding.

It is viewed as a different offering to the industry’s biggest player, ASX-listed Prospa Group, in how it assesses customers.

The most obvious data source that gives Moula a a different perspective to Prospa is accounting data. Moula claims this means it can delve deeper into a prospective borrower’s business, which enables better risk management and sharper pricing.

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Source: Show me the Moula! Prospa competitor launches funding round