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.
Subscribe