Non-bank diversified financial services company firm Liberty, has acquired marketplace lender MoneyPlace in a deal that both companies are claiming will provide large scale benefits all round.Liberty CEO James Boyle said the company's existing personal loan product would be replaced by the MoneyPlace product, "with no impact or change to existing Liberty customers".Launched in September 2016, MoneyPlace uses its proprietary technology to assess personal loan applications based on 10,000 data points, including the consumer's transactional information, device information and social media. Once approved, loan funds are available within 24 hours.Stuart Stoyan, chief executive officer of MoneyPlace, said his firm was looking for a way to expand its operations, and obtain a meaningful share of Australia's A$100 billion consumer lending market, an asset class dominated by the major banks."Over the past 18 months we've gone from start-up to scale up, and proved we have a personal loan product that works. While we do have ADIs as funders, Liberty has expertise in funding itself through several business cycles."Boyle noted that adding Liberty's balance sheet and treasury expertise will allow MoneyPlace a lot more flexibility from now on when writing unsecured personal loans.The other aspect of this deal is access to brokers. "Through the relationship [with Liberty], we hope to have the access to brokers around the country," Stoyan said.Boyle said the Liberty Group will continue to run as a multi-brand enterprise, with MoneyPlace running as an independent brand, alongside another start-up under the Liberty umbrella, an SME lender named Moula."Moula are not in a similar part of the market [as MoneyPlace]; they make cash flow loans to small businesses. This arrangement will allow Liberty's mortgage brokers to offer a much wider range of loans, to help the maximum number of customers.The parties declined to disclose any financial details of the transaction.