Latitude Group has paid $200 million for personal lender Symple, as the Ahmed Fahour-led non-bank lender makes a more aggressive push into the $11 billion personal loan market to take on the major banks.
Symple is a personal lending fintech based in Melbourne with a $53 million loan book that is poised to begin writing loans in Canada as early as next month.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
