Prospa leads Asia Pacific for fintech growth

Leading online small business lender Prospa has been named by Deloitte as the third fastest-growing technology company in the Asia-Pacific region.

With a massive 6,971 per cent growth over the past three years, the fintech lender was one of two Australian companies to be named in the top five of the 2015 Deloitte Technology Fast 500 Asia Pacific (the other being IT company Cirrus Networks), after topping the Fast 50 for Australia last month.

Stuart Johnston, technology, media and telecommunications leader at Deloitte Australia, said the group’s research shows that where there is customer friction and significant profit pools, disruption will happen.

“Prospa’s rise is a good example of an offering that meets a market need for safe, easy and fast finance in the small and medium-size business area,” he said. “Prospa has grown almost 7,000 percent over the last three years.”

Prospa joint-CEO Beau Bertoli said the group’s inclusion on the Fast 500 list is an endorsement for not only Prospa, but the strength of the Australian fintech industry.

“We’re incredibly proud that as a dynamic, independent and Australian company, we’ve been recognised as a technology leader in Asia among a list of companies that are transforming the way people do business today,” he said.

“We solve a very real problem for small businesses. We’re working hard to raise awareness that business owners can now have fast, easy access to finance to grow. Prospa has the smart technology platform and the partnerships, processes and people to remain Australia’s leading online small business lender and continue to lead the fintech industry in Australia.”

[Related: La Trobe Financial picks up prestigious title]

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