Prospa makes significant contribution to parent company
The New Zealand operations of small business lender, Prospa, contributed 17% of all the company’s originations in the past year.
Friday, August 26th 2022, 5:48PM
The ASX-listed business says it’s New Zealand operations “continues to go from strength to strength”, with originations contributing A$122.9 million in the 12 months to June 30.
“This highlights the growing awareness of the Prospa brand, further enhanced by the launch of Line of Credit,” it says in a statement.
Prospa New Zealand managing director Adrienne Begbie said, “we are proud of the continued growth that we have seen as a business over the past year.”
“Our originations have contributed significantly to the FY22 results, highlighting just how much of a need there is for our products and services for Kiwi small businesses.
“It’s clear that Prospa is becoming a more commonly known and trusted name in the New Zealand lending industry, and it’s great to see products such as our recent Line of Credit providing such value to our Kiwi customers.”
Overall the company reported EBITDA increased 2274% to A$12.1 million compared to the corresponding period last year.
Originations increased to A$732.8 million, up 52% companred to last year. June was a record month with A$104.6 million of originations.
It says there has been a promising start to the current financial year with A$66.0 million in originations recorded for July, which is a seasonally slower period.
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