Prospa Group Acquires Zips Business Loan Portfolio for AU$15.6 million

Prospa Group Limited (ASX: PGL) has announced the acquisition of Zip Business loan portfolio from Zip Business Pty Ltd for approximately AU$15.6 million, funded through Prospa's existing arrangements. The transaction, settling this week, includes all of Zip's remaining performing Australian business loans, totaling around AU$18.4 million for approximately 370 small businesses.

Prospa's CEO, Greg Moshal, emphasized the commitment to supporting Australian small businesses by ensuring financial continuity on the Prospa platform. The acquisition aligns with Prospa's strategy to provide tailored finance solutions. Since 2012, Prospa has delivered over AU$3.7 billion in funding to support the growth of thousands of small businesses, collaborating with brokers, accountants, and aggregator partners to provide flexible funding solutions.

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