• 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 »
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 »
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 »
SME lender Prospa’s week from hell for its investors continues after the fintech announced on Monday that it would undershoot its prospectus forecasts for 2019. Here’s the chart, courtesy of CommSec, that tells the story. Prospa (ASX: PGL) shares are down another 6.38% in lunchtime trade on Thursday to $2.20. The Sydney fintech’s shares plunged… Read more »
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 co-founders Greg Moshal and Beau Bertoli FY19 loan originations of AU$501.7 million, up 36.6% on FY18 Revenue of $136.4 million up 31.2% on the prior year FY19 pro forma EBITDA of $6.8 million, beats prospectus forecast by 11.5%. Total customers numbers in Australia and NZ top 20,000, up 58% YoY. NPAT loss of… Read more »
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 »
Prospa co-founders Beau Bertoli and Greg Moshal Fintech startup Prospa (ASX: PGL) has turned into a nice little earner for its key investors, AustralianSuper and Airtree Ventures, with shares in the online small business lender soaring 18% on debut on the ASX at noon today. The jump added $110 million to Prospa’s market cap after… Read more »
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 »
Research shows onboarding programs, when done well, can significantly increase employee retention and productivity – but it’s also just the right thing to do.
Afterpay has taken out the Deloitte Fast 50, with average revenue growth of over 8,000 percent over the last three years.
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.
Sitting behind fintech startups, the expected champion in NSW amongst all the industry segments, are health and biotechs.