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.
The Australian operations of European-based online lender Spotcap has today announced a partnership with New Zealand’s listed Heartland Bank, which is providing the fintech with a A$20 million funding facility to help grow Spotcap across Australia and New Zealand.
Today NAB and Telstra announce a startup joint venture to offer small businesses a digital marketplace. The new marketplace called Proquo will provide more than two million Australian small businesses an online platform where they can network, trade or swap services with one another.
Fintech startup Spotcap has today announced its $11 million milestone in short-term credit lines and loans to SMEs as it celebrates its first year of business in Australia.
Online lender for small and medium size businesses Spotcap has raised nearly $50 million in its third financing round and announced a new partnership with private equity firm Finstar Financial Group. The new shareholder will help to accelerate the startup’s global growth and implement value-adding strategies to grow Spotcap’s operations in Australia, Spain, and the Netherlands.
Spotcap, a Rocket Internet-backed startup offering microloans to small and medium-sized businesses, has launched in Australia.