Small business alternative lender, Lumi, has raised $15 million with Harel Insurance and Finance Group signing on as the fintech’s newest investor. Harel is Israel’s largest insurance group and listed on the Tel Aviv Stock Exchange. Existing backers, including the private investment arm of Perennial as well as Melbourne’s Josh Liberman Investment Group, Arbel, and… Read more »
Prospa’s lending rates are beginning to bounce back, but 2020’s Covid hit delivers the fintech a $3.2 million loss
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 »
• 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 »
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 »
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 »
The Australian alternative lending space has a new player in its midst, with new offering Lumi launching following the raise of a $31.5 million Series A round.
Small business lending startup Prospa has delayed its ASX listing as it seeks to clarify questions raised by ASIC yesterday around its loan terms.