Lending

Business loan platform provider Lend (Lend.com.au) has launched a new tool to help finance brokers source funding for small to medium enterprises (SMEs), with the company declaring the $700 million Australian alternate lending sector is on the cusp of a tech-driven “shake–up.”

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Afterpay has not had it easy these last few months. AUSTRAC has ordered the buy now, pay later service to appoint an independent auditor following a money laundering investigation, UBS predicted the company’s shares would halve within a year, and now the Reserve Bank might be re-evaluating the rule that makes it profitable.

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Latitude Financial’s public offering was set up to be one of the largest of the year, but the fintech failed to list on the ASX for the second time last week.

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Business lending platform Moneytech has hired new head of software engineering as the latest in a number of appointments.

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Alternate lender SocietyOne has established a new peer-to-peer (P2P) lending model, rolling out two different offerings for individual and institutional investors.

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