NewsBite

P2P lending

October

Dan Gallen is the chief investment officer of Pallas Capital.

Goldman Sachs refinances Pallas Capital’s $500m facility

It comes after Pallas in July lured Westpac NZ to refinance a $NZ400 million facility focused on Kiwi small-to-medium enterprise borrowers.

  • Sarah Thompson, Kanika Sood and Emma Rapaport

September

Jon Adgemis left behind his corporate advisory practice to launch a major hospitality empire.

Adgemis makes bold play to reclaim Public Hospitality’s lost pubs

Jon Adgemis is keen to take back control of the five Sydney pubs Public Hospitality Group lost control of last week.

  • Max Mason
Public Hospitality Group’s Jon Adgemis at the Australian Open this year.

New York lender in fight over slice of Adgemis’ pubs group

A major lender to Public Hospitality Group, the hotel empire of former KPMG deal maker Jon Adgemis, has signalled it will call in receivers to five Sydney pubs.

  • Max Mason

June 2022

Raj Makam, managing director and co-portfolio manager at Oaktree.

Oaktree’s Makam calls out the credit market’s hidden risks

The message from the US veteran portfolio manager to Australian institutions piling into private debt is that the returns don’t always reflect the risks.

  • Jonathan Shapiro

February 2022

Clayton Howes the co-founder and CEO of MoneyMe

Listed lender MoneyMe in $20m placement

Non-bank lender MoneyMe needs $20 million to help fund its SocietyOne acquisition.

  • Anthony Macdonald, Sarah Thompson and Kanika Sood
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December 2021

Transformative deal: MoneyMe founder and CEO Clayton Howes in Sydney this week.

MoneyMe to acquire SocietyOne as fintech personal lenders seek scale

Owned by media moguls, SocietyOne has been a perennial float candidate, but instead will be bought by MoneyMe, which is set to join the ASX300.

  • James Eyers

July 2021

Westpac chief executive Peter King is dealing with another crisis, this time involving invoice fraud.

Fraudsters discover the easiest way to rob a bank

The big banks have a long history of losing millions of dollars at the hands of invoice fraudsters.

  • Updated
  • Jonathan Shapiro

March 2021

Lex Greensill the founder of Greensill. The financier raised money from venture capital funds and lent them money.

The unholy alliance of Greensill and the growth hackers

Loans to Greensill’s venture capital backers, such as General Atlantic and Soft Bank, suggest a circular relationship built on hidden leverage. This is what happens when growth rules at all costs.

  • Jonathan Shapiro

February 2021

Both companies are chasing a $150 billion consumer lending market in Australia that has seen a massive structural shift.

Harmoney, MoneyMe lift personal loan originations in bank tech battle

Two tech-driven personal loan apps are finding new customers in an area the major banks have struggled with. Both are neck-and-neck on the market and volumes.

  • James Eyers
Zip founders Peter Gray and Larry Diamond have US investment bank Wells Fargo helping make introductions to US investors.

Zip Co goes shopping for US investors, mulls second listing

Payments group Zip Co is going to the home of rival Afterpay’s biggest supporters to try to bridge a $35 billion valuation gap between the two companies. 

  • Sarah Thompson, Anthony Macdonald and Tim Boyd

November 2020

SocietyOne CEO Mark Jones: "We are bouncing back, and that is symbolic of the country."

'Consumer confidence is returning': SocietyOne

In just five weeks, new loans are up 150 per cent and could surpass pre-COVID-19 record levels by early next year as a sense of certainty returns to the economy.

  • James Eyers

October 2020

Harmoney's distribution model uses Google's 'Smart Bidding' technology to serve ads to potential customers.

Personal lender Harmoney touts new Google-powered marketing

Harmoney is targeting a November ASX listing and is talking to investors about a unique approach to finding new customers using the internet search giant.

  • James Eyers

September 2020

Plenti chairwoman Mary Ploughman with co-founders (left to right) Daniel Foggo, Glenn Riddell and Ben Milsom.

Plenti punished on debut

Shares in the non-bank lender opened down sharply when the largest initial public offering of the year launched, as investors showed caution about unsecured personal lending.

  • Updated
  • James Eyers

August 2020

SocietyOne CEO Mark Jones: "Hardship is a time when what is good for the customer is also good for the lender."

First real stress test gags SocietyOne sceptics

Young lenders like SocietyOne had often been attacked because they'd never been through a recession but the pandemic has nixed that argument.

  • James Eyers

July 2020

Mark Jones.

SocietyOne shed 70pc of business in three weeks

The marketplace lender was writing record levels of new business prior to the crisis. After bunkering down it's keen to get back to growth again.

  • James Eyers
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June 2020

RateSetter Australia boss Daniel Foggo has hired advisers to help prepare the company for an ASX listing.

RateSetter tells investors loan growth is on track ahead of float

As green shoots pop up in the IPO market, another contender is seeking to rear its head. 

  • Sarah Thompson, Anthony Macdonald and Tim Boyd

February 2020

SocietyOne chief executive Mark Jones: “We know what a good customer looks like, so we can spend more time in the places were good customers are."

SocietyOne finally ready to test the market

Media moguls are preparing the personal lender for its next growth phase after new loans surged in 2019.

  • James Eyers

December 2019

“The problem is there are no checks and balances and no barriers to entry, which experience shows us can lead to bad behaviour,” said small business ombudsman Kate Carnell.

Small business is dumping the big four banks for fintech lenders

Small business is turning away from the big banks because of loan security requirements, but the new generation of lenders come with their own problems.

  • Duncan Hughes

October 2019

Marketlend chief executive Leo Tyndall says the fintech's UnLock buy now pay later scheme has seen fast momentum.

Local fintech launches new digital currency for trading loans

Marketlend has an online marketplace for small business loans, its new digital currency called Black will be backed one-to-one with the Australian dollar.

  • James Eyers

September 2019

Symple loans CEO Bob Belan, left, with NAB's head of emerging technology clients Steve Smith, right.

NAB provides debt for Symple to attack personal lending

Australia's biggest business bank is seeking exposure to disruptive forces by providing warehouse funding for fintech start-ups.

  • James Eyers

Original URL: https://www.afr.com/topic/peer-to-peer-lending-hoq