Australian based online small business lender raised $60m in a Series B financing round led by Carlyle Group and Ironbridge Capital. This was the largest financing round by an Australian online lender to date.
The proceeds from the capital raising, the largest to date by an Australian online lender, will be used to help fund additional Australian small businesses and support Prospa's expansion in the local market. The co-investment is led by Carlyle, Ironbridge, Airtree Ventures and high profile private investor David Fite. Prospa's original funder of the first round, Entree Capital, also contributed towards the $60 million raising.