Software as a service proved popular with investors this week, particularly in the cybersecurity space. But the largest round came courtesy of the SoftBank Vision Fund, which provided $800 million to a supply chain finance company, bolstering its valuation up to about $3.5 billion. Plus,...
Australian alternative small business lender Prospa is hoping to start the new year off right, announcing that the company will adhere to the industry’s co-called Code of Lending Practice, a voluntary code for alternative lenders to promote fair terms and customer protections. Reports in Crowdfund...
Weeks after Australia alternative lending platform Prospa cancelled its IPO, amid backlash over contractual agreements with borrowers, the company has bowed to regulators’ demands that it remove those contract clauses in question. On Friday (Sept. 7), the Australian Securities and Investments Commission (ASIC) “significantly limited”...
Australia’s alternative finance community has vowed to heighten transparency following criticism over Prospa‘s high interest rates, which caused the FinTech to scrap its initial public offering (IPO). Reports in The Australian Financial Review on Friday (June 29) said that six alternative lending players have committed...
November 23, 2015
Westpac, based in Australia, is in the midst of piloting a new partnership with Prospa, the small business lender, The Sydney Morning Herald reported Friday (Nov. 20). Through the partnership, the initial foray centers on referrals that wend their way from a Westpac-hosted site and are sent to the Prospa loan application Web platform. Should the partnership […]
