Prospa, a Sidney, Australia-based online lender to small business, secured $25M in growth funding.
The round was led by AirTree Ventures.
The company intends to use the funds to boost technology, expand product offering and its distribution capacities, hire new talent and build a recognized brand.
Co-Founded by Greg Moshal and Beau Bertoli, Prospa is an online small business lender which leverages a proprietary technology platform and a fast online application process to approve loans and provide funding within 24 hours.
The company recently passed $250 million in loan originations and has added a series of strategic partnerships with Westpac, Reckon and Mortgage Choice to offer small business loans to their customers.