Payday For Prospa

Non-bank lender, Prospa, has announced a new funding partner sending it’s share price skyward.

The partner is reported to be a global investor which has committed to $32.5m in Class B Notes with the right to go up to $65 million.

Prospa’s investors have provided close to $500 million in funds which the company uses to offer business loans, lines of credit and business to business payments.

Group revenue in the 2019 financial year was $136.4 million.