Lender tops list of high-growth companies in APAC

by AB22 Feb 2018

Online small business lender Prospa has topped Financial Times’ 1000 High-Growth Companies in Asia-Pacific for 2018.

The list considered companies based in 11 of Asia-Pacific’s more developed markets: Australia, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, and Taiwan.

Participating companies have been ranked according to the percentage growth in their revenues between 2013 and 2016.

Prospa said it has experienced accelerated growth over the past year, having lent more than $500m to small businesses across Australia.

“Disruptive business models driven by technology are changing the world as we know it. People are looking for new ways of working and living that make their lives easier, whether that’s finding a job, booking a holiday or financing their small business,” said joint CEO Greg Moshal.

Prospa was reported last month to be listing on public markets this year and is said to be looking for new investors ahead of a planned IPO.

The Australian Financial Review reported two weeks ago that the company has put its potential market size at $20bn as it courts potential investors, particularly fund managers. 

The report said Prospa had pitched itself as the no.1 online lender to small businesses, with compound annual revenue growth of 130% since FY14.

The company appointed a head of group capital management last month, saying that efficient access to capital is an ongoing requirement for Prospa and vital to its long-term vision.

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