subscribe to our newsletter
RateSetter completes $10.5m capital raising

RateSetter completes $10.5m capital raising

Private equity firm Five V Capital has led a $10.5 million capital raising for peer-to-peer lender RateSetter Australia.

Five V Capital has joined RateSetter's existing shareholders and additional professional investors in a $10.5 million capital raising for the fintech company.

As part of the deal, Five V Capital boss Adrian MacKenzie will join the RateSetter board, which recently added former ING Direct chief executive Vaughn Richtor to its ranks.

Mr MacKenzie said that he was "pleased and excited" to join a "very strong" shareholder base including Carsales, Stratton Finance and RateSetter UK.

"Driven by an excellent management team, a leading technology platform and very compelling value proposition to borrowers and lenders alike, RateSetter is very well placed to take advantage of tectonic shifts in how consumers and small businesses will invest and borrow," Mr MacKenzie said.

"RateSetter’s management team has taken a very considered approach to growth since launching in 2014, while still driving the business to become the leading peer-to-peer lender in Australia.

"This additional capital will help the management team leverage the strong foundations they have laid to date to continue to grow the customer base and accelerate growth."

RateSetter Australia has facilitated more than $150 million in loans — a figure that has doubled in the past five months.

[Related: Lenders crowned at Fintech business awards]

RateSetter completes $10.5m capital raising
mortgagebusiness logo

Latest News

Two lenders have announced rate changes on their home loan offerings, with rises of up to 40 basis points. ...

The major bank has announced the appointment of a new group treasurer to replace Rick Moscati, who has been embroiled in an ongoing investig...

The corporate regulator has issued guidance in relation to its oversight of a newly formed external dispute resolutions body, the Australian...

Promoted Stories

podcast

LATEST PODCAST: How the market has changed in the last 25 years, royal commission hearings, broker advocacy

Do you expect access to credit to get harder this year?