Five years after hitting the ASX with a $610 million market cap, small business lender Prospa is delisting with a $74m takeover bid

- February 27, 2024 2 MIN READ

Small business lender will disappear from the ASX within months following a $74 million takeover bid from the Melbourne-based Salter Brothers Tech Fund. While the offer of $0.45 cents a share is a 22% premium on Prospa’s (ASX:PGL) closing price of $0.37 cents on Monday, it’s a far cry from when the business listed at… Read more »


Prospa’s lending rates are beginning to bounce back, but 2020’s Covid hit delivers the fintech a $3.2 million loss

- February 25, 2021 2 MIN READ

Originations grew 265.3% from 4Q20 to 1Q21 and a further 25.9% from 1Q21 to 2Q21 NZ originations surpassed $100m in total loans H1 FY21 loan originations of $180.7m below pre-pandemic levels Revenue (before transaction costs) of $55.7m, down 26.4% H1 FY21 EBITDA of $4.1 million Lending by small business fintech Prospa Group remains below pandemic… Read more »


Business lender Prospa’s latest results suggest small business is getting back on track

- October 30, 2020 3 MIN READ

 • Total originations of $80 million in 1Q21, up 265% on 4Q20 • Originations, excluding loans originated under the Government’s Guarantee Scheme, up 107% on previous quarter • Annual portfolio yield of 31.5% maintained • Significantly reduced loan deferrals with 1,681 accounts in ANZ on full or partial deferral Fintech Prospa (ASX: PGL) has seen… Read more »


Prospa shares rally after beating its earnings downgrade

- February 27, 2020 2 MIN READ

HY20 revenue of $75.6 million up 12% on the prior year (HY19: $67.7 million), in line with November downgrade. Customer numbers up 45% on corresponding period to 26,900 in HY20 HY20 loan originations of $306.8 million, up 37% on the prior corresponding period Co-CEO Beau Bertoli moving to role of Chief Revenue Officer Small business… Read more »


5 things you should know about tech today

- November 28, 2019 5 MIN READ

Well hello, you big Belmont boy. Photo: CSIRO.   Hello Thursday. How’s your world?   1.  Prospa boss says sorry Prospa chair Gail Pemberton has apologised to shareholders at the fintech’s first AGM as an ASX-listed company this week. Last week, the SME business lender, which listed on June 11 at $3.78 a share, announced… Read more »


Prospa shares were savaged after revenue downgrade

- November 18, 2019 2 MIN READ

Shares in Sydney fintech Prospa have plunged nearly 28% in early trade on Monday, to a record low of $2.79 after the company released a trading update that downgraded revenue expectations for the remainder of 2019, less than six months after its IPO. The market reacted savagely to news, wiping more than $1 off the… Read more »


Prospa has set up a NZ$45 million fund to lend to Kiwi SMEs

- August 8, 2019 2 MIN READ

Adrienne Church, GM of Prospa NZ with founders and co-CEOs Beau Bertoli and Greg Moshal. ASX-listed small business lender Prospa is expanding in New Zealand, setting up its first local lending facility, worth NZ$45 million. Loans into NZ until now have been funded from Australia. The company says the standalone facility means around NZ$6 million… Read more »


2ND TIME LUCKY: Small business lender Prospa is raising $110 million in another IPO attempt

- May 16, 2019 3 MIN READ

  Fintech Prospa launched in 2012 after its co-founders grew frustrated with access to small business loans from traditional banks The company is raising $110 million from institutional investors, valuing the business at $610m Its backers include Square Peg, Airtree and AustralianSuper.  This is Prospa’s 2nd attempt to float after an IPO was pulled at… Read more »


How Prospa approaches company culture

- September 26, 2018 4 MIN READ

What makes Prospa’s culture unique is that we’re driven by challenging the way the finance system works: over 200 passionate people come together daily to find better ways of keeping small businesses moving.