Prospa and The Entourage combine to inspire small business owners
Prospa, Australia’s largest online lender to small business, has launched an innovative partnership with educator The Entourage that enables business owners and budding entrepreneurs to fund education through their business cashflow. The partnership will enable business owners to access The Entourage’s Launch, Build and Scale education programs and advice from leading entrepreneurs using an interest free loan from Prospa, instead of a large upfront payment, credit card or expensive personal loan. Beau Bertoli Joint CEO of Prospa said “It’s amazing that two of Australia’s entrepreneurial success stories are partnering to offer Australian small business owners and fledgling entrepreneurs access to finance and education. “Prospa and The Entourage have the same […]
Fintech SME lender GetCapital heads to New Zealand
The Australian lender is now able to service New Zealand SMEs through a Lending as a Service partnership. GetCapital, a leading Australian fintech lender that specialises in small- to medium-sized businesses, is expanding internationally through a strategic partnership. The partnership with New Zealand lender Avanti Finance will see the licensing of GetCapital’s technology and underwriting via a Lending as a Service (LaaS) model. This is believed to be a first for an Australian lender. GetCapital‘s CEO Jamie Osborn said expanding into the New Zealand market was the next logical step. “With the large number of SMEs in New Zealand facing the same challenges as the Australian market, we are excited […]
Move over term deposits, peer-to-peer lending is on the rise for Aussie investors
Individual Aussie investors have lent an average of $13,508 in the last nine months as they chase better returns in a low-yield environment, according to leading peer-to-peer lender RateSetter. This figure is a 25.4% increase from the $10,770 lent in the previous nine months. With the RBA keeping interest rates at rock bottom levels, and savings returns suffering as a result, Daniel Foggo, RateSetter CEO, said that investors were turning to peer-to-peer platforms as they shifted away from “volatile equities and low-return savings accounts and term deposits.” “We hear from investors that they are attracted by the compelling returns and lower relative risk, in particular the protection of their money […]
Why the parliamentary inquiry was good for fintech
Discussion of data sharing, small business loan rates and investment troubles spell increased opportunities for fintech. The parliamentary inquiry into banks saw CEOs of the Big Four – Westpac, ANZ, NAB and Commonwealth Bank – grilled about a range of issues pertaining to their bank’s conduct. While the line of questioning taken by House of Representative economics committee did not directly relate to fintech, the answers and defences at the four inquiries reveal several interesting points that relate to the fintech sector, for both banks and fintech companies. Data sharing Westpac and NAB were questioned over the sharing of customer data in order to increase competition. This is a key […]
Key appointment of CEO at DirectMoney
The Board of DirectMoney is very pleased to announce the appointment of Mr Anthony Nantes to the position of Chief Executive Officer. Former Chief Executive Officer, Mr Peter Beaumont will become the Chief Operating Officer. Mr Nantes brings substantial experience in fintech and technology to the role, which together with his exceptional set of skills will lead and deliver the next phase of the Company’s growth. Mr Anthony Nantes said: “I am excited to have the opportunity to take over the reins of such an outstanding Australian fintech company that has proven capability and has successfully grown through the early stage with a proprietary technology platform foundation that can […]
Valiant announces partnership with Octomedia to launch Inside Small Business LoanConnect
Leading fintech business loan marketplace, Valiant and Inside Small Business publisher Octomedia, announced the official launch of an exclusive partnership to bring business loan solutions to Australia’s small business community. The partnership is a major Australian publishing first which delivers an exclusive business loan search and application portal as a co-branded offer: Inside Small Business LoanConnect. By dynamically accessing Valiant’s panel of 35+ leading lenders, Inside Small Business LoanConnect compares small business owner’s loan requests to the lender’s credit criteria. Matching works instantaneously through Valiant’s proprietary marketplace technology – saving business owner’s time and stress. Valiant Co-founders, Alex Molloy and Richard Cotton expressed excitement for the new […]
Mutual lender takes equity stake in fintech platform
Beyond Bank Australia has become the fourth customer-owned lender to take an equity stake in growing marketplace lender SocietyOne. The mutual lender yesterday announced it has acquired $1.5 million worth of shares in SocietyOne, as well as agreeing to increase its funding arrangement with the marketplace lender to $10m. G&C Mutual Bank, Maritime, Mining and Power Credit Union and Regional Australia Bank joined SocietyOne’s share register in May this year following the company’s successful $25m capital raising. The move by Beyond Bank Australia to take a stake in SocietyOne follows a long relationship between the two, with Beyond Bank Australia among the first institutions to become a direct SocietyOne investor […]
How partnerships are driving this fintech lender forward
Small business lender GetCapital is utilising strategic partnerships to benefit its customers. Fintech companies were originally thought of as disruptors, but as the game continues the rules are starting to change. Today, you’re more likely to see banks and corporates building bridges with fintech companies rather than putting up defensive walls. This is the case for GetCapital, a small business lender sharing its reins with business heavyweights such as Qantas and Alibaba. Established in 2013, GetCapital started providing standard small business loans to Australian businesses and has now diversified it to include trade finance and invoice discounting. GetCapital CEO Jamie Osborn says the idea is to provide an online small business […]
