Prospa, a Sidney, Australia-based online small business lender, secured an additional $60m in its Series B financing round.
Backers included Carlyle Group, Ironbridge Capital, Entrée Capital, Airtree Ventures and David Fite.
The company intends to use the funds for expansion in the local market and fund loans to additional Australian small businesses.
Led by Co-CEOs Greg Ruddock and Beau Bertoli, Prospa is an online small business lender which leverages a proprietary technology platform and a simple online application process to approve loans and provide funding to businesses within 24 hours.
Since 2011, the company has lent over $70 million.