Brief: Investment bankers line-up for Prospa IPO
The AFR's Street Talk understands a handful of banks have pitched to Prospa's chief executives Greg Moshal and Beau Bertoli in recent weeks, ahead of a planned listing on the ASX "some time next year". In February, the online business lender was valued at A$235 million after it raised $25 million of new equity to support growth, via a funding round led by AirTree Ventures, the AFR reports. The business is now said to be worth a lot more as its lending volumes have ramped up. While it is unclear if formal mandates have been awarded "sources" suggested UBS was well placed to secure a role. Macquarie Capital was also among those that pitched for a gig.