# Prospa Advance

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/prospa-advance-pty

- Industry: Financial Services
- Headquarters: Sydney, Australia
- Website: www.prospa.com
- Total disclosed funding: $55M
- Latest round: Series B (Sep 3, 2015)
- Investors on record: 4

## About

Founded in 2011 and based in New South Wales, Australia, Prospa Advance Pty Limited is a company that provides online lending services to small and medium businesses. Greg Moshal is the current CEO of the company. In February 2017, Prospa Advance Pty Limited raised AUD 25 million in growth capital funding led by returning investor AirTree Ventures, with participation from other returning investor Entrée Capital, Ironbridge Capital, and new investor Square Peg Capital.

The company has developed a technology platform and an online application process where the company offers small business loans between USD 5000 and USD 250,000, and funding is possible within 24 hours. It provides flexible funding solutions which include small business loans and business lines of credit. The company doesn’t require reports, financial statements, and business plans when customers apply. Instead, it offers a quick online application with a fast decision and funding possible in 24 hours.

The company has plans to continue to evolve and improve its product propositions, connecting its capital solutions with an integrated suite of cashflow management products.

## Funding rounds

- Series B, Sep 3, 2015, $42M — Carlyle Group, Ironbridge Capital, Entree Capital, AirTree Ventures
- Series A, May 13, 2013, $13M — Entree Capital
- Seed, Jan 1, 2013 — Entree Capital

## Investors

- Entree Capital (https://capitalatlas.ai/funds/entree-capital) — Seed, Series A, Series B
- Carlyle Group (https://capitalatlas.ai/funds/carlyle-group) — Series B
- Ironbridge Capital (https://capitalatlas.ai/funds/ironbridge-capital) — Series B
- AirTree Ventures (https://capitalatlas.ai/funds/airtree-ventures) — Series B