Prospa

Office address: Level 1, 4-16 Yurong Street, Sydney, New South Wales 2000, Australia
Website: www.prospa.com
Year established: 2012
Company type: Financial services
Employees: 290+
Expertise: Business finance
Parent company: N/A
CEO and key people: Greg Moshal, CEO
Financing status: Formerly VC-backed

Prospa stands out as a pioneering force in the Australian financial technology sector. It is dedicated to empowering small businesses with innovative financial solutions. The company focuses on agility and a deep understanding of the unique challenges faced by small enterprises. Because of this, Prospa has become synonymous with accessible, fast, and responsive financing options that cater to the evolving needs of modern businesses.

History of Prospa

Founded in 2012, Prospa embarked on its journey with a mission to fill the gap in the market for small business financing. Recognising the difficulties small enterprises faced in securing funds from traditional banks, Prospa introduced a streamlined, technology-driven approach to lending. This innovation not only democratised access to finance but also set a new standard for speed and efficiency in the lending process.

Products and Services of Prospa

Prospa's products are tailored to the diverse needs of small businesses. The company offers a range of solutions designed to boost cash flow and facilitate growth, including:

• Prospa Business Loan Plus: ideal for businesses seeking substantial lump sums for major expenses such as expansions or upgrades
• Prospa Small Business Loan: provides quick access to funds for covering unexpected costs or making critical investments
• Prospa Business Line of Credit: offers a flexible funding solution to manage cash flow effectively and perfect for dealing with seasonal demand or bridging invoice gaps 

Culture at Prospa

Prospa's culture is built around passion, innovation, and a steadfast commitment to customer satisfaction. The company fosters a collaborative environment where diversity is celebrated. Every team member is encouraged to think boldly and take ownership of their contributions. This dynamic culture is not only a testament to Prospa's internal values but also reflected in the high-quality service delivered to its clients and partners.

About Prospa CEO Greg Moshal

At the helm of Prospa is CEO and co-founder Greg Moshal. He is a visionary leader whose entrepreneurial acumen and dedication to the small business sector have been instrumental in the company's success. Under Moshal's guidance, Prospa has grown exponentially, receiving accolades for its innovative products and exceptional customer service. Moshal's leadership style is characterised by a keen focus on technology-driven solutions and an unwavering belief in the potential of small businesses.

The Future at Prospa

The future looks bright for Prospa, with a strategic acquisition on the horizon that promises to enhance its service offerings and expand its market reach. The company has entered into a Scheme Implementation Deed with a consortium led by the Salter Brothers Tech Fund to acquire all shares in Prospa. This move is supported by Prospa's Independent Board Committee, underlining the transaction's alignment with shareholder interests and its potential to deliver significant value. The acquisition underscores Prospa's growth trajectory and its commitment to providing unmatched financial solutions to the small business community.

Prospa's innovative approach to small business financing has reshaped the landscape of financial services in Australia and New Zealand. This has also established the company as a beacon of support for small enterprises striving for growth and success. With a solid foundation, a commitment to technology and customer service, and a clear vision for the future, Prospa is well-positioned to continue its trajectory of growth and innovation.