Small business lending fintech Prospa has amended its loan terms following a review by the Australian Securities and Investments Commission (ASIC).
A group of fintech lenders have signed a Code of Lending Practice that aims to “standardise transparency and disclosure” around the loans they offer small businesses.
Two of Australia’s hottest startups, Unlockd and Prospa, built a business model reliant on a single, external force which ultimately left them vulnerable.
Online business lender Prospa has joined the lending panel of investment management company Yellow Brick Road, which is looking to extend its offering for small business customers.
Sitting behind fintech startups, the expected champion in NSW amongst all the industry segments, are health and biotechs.
Prospa has announced that it has raised a $20 million debt facility from Silicon Valley based VC firm Partners For Growth.
Australia is the top nation, alongside Brazil, facilitating the largest fintech deals outside the global core markets, according to a CB Insights report.
Expert360 has announced the close of a $13 million Series B round, which will fund the development of new features and international growth.
Prospa has announced the closing of $25 million in funding led by AirTree Ventures, which will be used to help the business grow its technology and team.
Online small business lender Prospa has announced that it has raised $60 million – the largest capital raising to date by an Australian online lender – from a consortium of investors including The Carlyle Group and Ironbridge Capital. Prospa’s seed and Series A investor, Entrée Capital also contributed to this round, as well as Airtree Ventures and high profile private investor David Fite.