Prospa

About

Prospa is an Australian online small-business lender that uses a proprietary technology platform and fast online application to approve loans and disburse funds to businesses within 24 hours.

Mission

Prospa is an Australian fintech that provides online lending and alternative financing to small businesses. Founded in 2011, it has grown into a high-growth, customer-centric lender that has injected $400m into the Australian small-business economy through over 12,000 loans. The company developed a securitisation warehouse structure in 2015 to access deeper pools of capital and support lending at scale. Prospa's team has grown to 145 people with plans to add another 80 over the next 12 months, and it runs employee programs such as an Employee Share Option Plan and internal training initiatives. The business emphasizes culture and retention—winning AON Hewitt Best Employer 2017 and multiple FINNIE awards for workplace and leadership. CFO Ed Bigazzi and joint CEOs Beau Bertoli and Greg Moshal lead a fundraising strategy that combines equity and alternative debt to fund growth. Prospa is an online small-business lender that leverages a proprietary technology platform and a fast online application process to approve loans and provide funding within 24 hours. Co-founded by Greg Moshal and Beau Bertoli and based in Sidney, Australia, the company focuses on serving small businesses. It has passed $250 million in loan originations and added strategic partnerships with Westpac, Reckon and Mortgage Choice to offer loans to their customers. Prospa secured $25M in growth funding led by AirTree Ventures. The company intends to use the funds to boost technology, expand its product offering and distribution capacities, hire new talent and build a recognized brand. Its core product is online small-business lending delivered through a fast, tech-enabled application and approval process. Prospa is a Sidney, Australia-based online small business lender led by co-CEOs Greg Ruddock and Beau Bertoli. It leverages a proprietary technology platform and a simple online application process to approve loans and provide funding to businesses within 24 hours. Since 2011 the company has lent over $70 million. The company intends to use the newly raised funds to expand in the local market and to fund loans to additional Australian small businesses. The latest capital was an additional $60M in its Series B round. Backers in the round included Carlyle Group, Ironbridge Capital, Entrée Capital, Airtree Ventures and David Fite.

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