RateSetter Australia has sealed a new $150m funding facility to ramp up its car loan operations, as the peer-to-peer lender seeks to accelerate its growth plans and explores joining the ASX this year.
The new warehouse funding was secured through National Australia Bank, an undisclosed international bank and domestic investor, giving RateSetter capacity to step up in secured auto loans. “I see an enormous growth opportunity in auto finance,” chief executive Daniel Foggo said. “It’s a profitable segment with some really good dynamics.”
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First published in the Australian on 24 January 2020.
Published by: Five V in NEWS