Prospa Soars Above IPO Price in ASX Debut

Prospa Soars Above IPO Price in ASX Debut

This article is originally from, acquired by Window in December 2021.

Prospa, the Australian small business lender, debuted at $4.50 on the ASX yesterday.

The share price was well above the $3.78 IPO price, and a victory for the SMB lender after its stalled IPO attempt last year.

A dispute with the Australian Securities and Investments Commission, or ASIC, delayed the IPO by 12 months.

Founded in 2012, Prospa has originated more than $1 billion in loans to Australian SMBs. Its current loan book totals more than $300 million, and it grew revenue more than 100% between 2016 and 2018 and projects 26% growth in 2019.

It also operates Prospa Pay, which allows businesses to buy now and pay over thirteen weeks, with no interest.

At a $720 million IPO market cap, Prospa joins Afterpay and Zip as Australian fintech success stories.

Fintech Drift Team

Fintech Drift Team

Acquired by Window in December 2021, Fintech Drift was a media property that helped professionals stay ahead of tech innovations shaping the global financial markets.

More From Window

Share This Post