Prospa steps up in business finance
Business lender Prospa is racking up milestones, with the outfit set to soon surpass A$350 million in loan originations, joint CEO Beau Bertoli said on Friday.It was as recently as mid December 2016 that Prospa put its level of loan originations at $200 million. By February total originations has passed $250 million.A "balance sheet lender" rather than any variant of a peer-to-peer lender, Prospa nevertheless may have some claim to being the largest as well as one of the fastest growing fintech lenders in Australia, few of whom warrant the P2P label.Bertoli said Prospa already had 130 staff and was looking to hire 40 more soon.In December, SocietyOne put its total originations since its launch four years ago at $200 million, after starting the 2016 year at $70 million. At the time its loan book was worth around $130 million.