Early investors set to Prospa.

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Great news for Prospa share holders today as trade commenced around 12pm with solid early results. Asking an oddly specific $3.78, prices surpassed $4.50 quite quickly and have hovered at that 20% mark in the opening 2hrs or so.

Founded in 2012, Prospa list themselves as Australia’s number 1 online small business lender and note that “net proceeds from the $60.0 million primary raise will be invested in the business alongside the $43.3 million raised in October 2018 through the issuance of the convertible note. The investments will be focused on funding the equity portion of the growing loan book and working capital, investment in new products and geographies and $17.2 million to repay corporate debt.”

We’ve popped it on the Scorecard, keep tabs on this one, we expect it to do well.