Several companies in the mortgage and finance space have been recognised as the fastest growing businesses in the country.
Online SME lender Prospa placed second in the Australian Financial Review’s 2017 Fast 100 list, with a 239 per cent average revenue growth since 2013/14 and a boost of $50 million in equity and debt funding this year.
Queensland-based finance brokerage HoldenCAPITAL, headed by Commercial Broker of the Year Daniel Holden, came in as the 25th fastest growing company, following its 74.7 per cent growth and revenue rise of $3.17 million.
Mortgage aggregator Finsure Finance & Insurance made the ranking for the second year in a row, taking out the 31st place, after recording a 68.8 per cent growth in FY17 ($20.59 million).
Ren Wong’s listed brokerage N1 Loans brought in $4.3 million of revenue, resulting in a 50.6 per cent increase — placing it as 46th fastest growing company in Australia.
Commercial and construction finance specialists Development Finance Partners (DFP) held the 60th position in the ranking, while Melbourne-based property and financial advice group Empower Wealth came in at 72nd place, following a 37.2 per cent growth.
Gregory Moshal, co-founder and joint CEO of Prospa, commented: “Before Prospa, small business owners simply couldn’t access finance unless they had an asset to put up as security, and they certainly couldn’t do it in a fast, easy way from the convenience of their own workplace.
“We’ve now provided over half a billion dollars in loans to small businesses, and there’s obviously a real need there. We’re now focusing on finding more ways to provide quick, easy access to capital: how, where and whenever it suits our customers.”
Finsure Finance & Insurance managing director John Kolenda commented: “Just six years since we established Finsure, the group now has more than 1,300 brokers and continues to go from strength to strength.
“I am immensely proud of the efforts of the Finsure team and our broker partners.”
The fastest growing company in Australia over the year was online travel agency TripADeal.
A former small business minister has been appointed as the new...
Mortgage Street is set to relaunch into market as a new non-bank ...
The funding gap for SMEs with a turnover of between $1 million an...