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Prospa Acquisition by Salter Brothers Proceeding

Prospa Acquisition by Salter Brothers Proceeding

(28 February 2024 – Australia) SME lender Prospa has entered into a scheme implementation deed as a consortium led by the Salter Brothers will acquire 100 percent of Prospa’s ordinary shares.

Salter Brothers Tech Fund will acquire Prospa for almost A$74 million, marking a significant discount on the A$610 million the SME-focused fintech was valued at when listed by Entree Capital in 2019.

“This is a proprietary transaction in one of our targeted sectors of the technology sector. It represents an interesting risk versus reward trade off over a three-year period” said Salter Brothers Investment Director, Gregg Taylor.

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