YOZO a quick and open answer to the business lending maze
YOZO is redefining lending for small business by offering a transparent and seamless experience for their borrowing needs.
Federal Election is no Easter treat for Australia’s small business community
Rejected by banks: SMEs struggle to secure finance
P2P borrowing up 45% year on year
KPMG: Australia’s AltFin sector worth $1B
KPMG, an advisory and audit company, has released numbers that say Australia has a 32 percent share of the APAC alternative finance market, according to reports. The market has grown 88 percent year over year and it’s worth a total of $1 billion, the company said. This news comes in advance of the fourth edition of the AltFi Australasia Summit, which will take place in Sydney at the Doltone House on April 15. “This is the perfect time for challenger banks to enter the market. Through the use of technology and data we can provide our customers with greater control and transparency, and competitive rates,” said Volt Bank Co-Founder and […]
SME lending is a valuable source of diversification for brokers says fintech lender OnDeck Australia
The Banking Royal Commission has highlighted the perils of relying on a single revenue stream, and SME lender OnDeck Australia is urging mortgage brokers to think beyond home loans and diversify into SME lending. Research by commercial lending fintech OnDeck Australia[1] confirms that 25 percent of Australia’s small to medium enterprises plan to seek additional business finance. Michael Burke, Head of Sales at OnDeck Australia, says, “There is clearly strong demand for SME finance, making this a revenue channel that brokers cannot afford to overlook. Moreover, our discussions with brokers indicate that, on average, one in four of a broker’s existing home loan clients are SME owners, providing a ready […]
Show me the Moula
Moula CEO Aris Allegos, tells the story behind the fintech’s multi-million dollar securitisation In early March, online business lender Moula secured an additional $250m in funding to lend to Australian businesses, which was raised through the latest round of a securitisation program launched in 2015. To enhance the impact of the funds on the business sector, Moula also adjusted its terms and conditions, extending repayments from 24 to 36 months and doubling the maximum loan amount to $500,000. In a move it says is “unprecedented” in the online lending space, pricing starts at 15.95%, with no establishment or direct debit fees and no early repayment penalties. So high is the […]
What’ll Waddle do with $4m injection?
Small business lender fintech start-up Waddle will step up its efforts to crack overseas markets and take a larger share of the big four bank’s local market share after closing a $4 million series A funding round. The funds, sourced from tech venture capital firm Allectus Capital, will be used to grow the fintech’s footprint in Australasia and push forward with its plans to integrate with overseas banks. “We are seeing strong demand from banks looking to digitise their working capital product offerings by partnering with fintechs with proven models,” said Simon Creighton, co-founder of Waddle. While it is the first major external venture-style funding round, co-founder Simon Creighton is […]
