Part of the reason why SMB owners are choosing to forgo a business loan is the amount of documentation required, with 80 percent stating it was onerous.
Small business lending startup Prospa has delayed its ASX listing as it seeks to clarify questions raised by ASIC yesterday around its loan terms.
Three years in the making, Judo Capital is launching into the market today with a focus on building real relationships with its SME customers.
Bicycle Queensland has partnered with peer-to-peer equipment rental platform Quipmo to help members lend out their bikes.
MoneyMe has raised a $120 million asset-backed securitisation facility, while business-focused lender Waddle has raised $50 million in debt funding.
Credi is working with lenders and borrowers who don’t traditionally see themselves in those terms – friends and family who simply lend each other money.
Prospa has announced that it has raised a $20 million debt facility from Silicon Valley based VC firm Partners For Growth.
A growing number of niche platforms are tapping into the opportunities within the peer to peer model, with one being Designerex.
Peer-to-peer lending platform RateSetter has announced a $20 million investment from the Australian Government’s Clean Energy Finance Corporation (CEFC) to fund the launch of a green loan marketplace.
Lending startup Moula, which provides small businesses with up to $250,000 in loans based on their data, has today announced the addition of Chris Ridd, former managing director of Xero, to its board as it gears up for growth.
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 small business lender Prospa has announced that it has raised $60 million – the largest capital raising to date by an Australian online lender – from a consortium of investors including The Carlyle Group and Ironbridge Capital. Prospa’s seed and Series A investor, Entrée Capital also contributed to this round, as well as Airtree Ventures and high profile private investor David Fite.