The non-bank lender has changed its name to reflect its future ambitions in the credit space.
RateSetter Australia has rebranded to “Plenti” as part of a broader move to “ramp up” the next phase of growth across its personal, automotive and renewable finance offerings.
Plenti CEO Daniel Foggo said the lender wanted its identity to reflect its ambitions rather than its origins as a marketplace platform.
“We will always be proud of our history. But we feel now is the right time to take things to the next level, with a name that reflects our company’s future as a champion in consumer finance.”
“The name ‘Plenti’ does just that. Plenti reflects our ambition and purpose: to create smart financial products that help our customers make the most of their money and transform their tomorrow.”
He continued: “The company has transformed into a very different business than when it started out operating exclusively through a marketplace model.
“Since then, Plenti has launched new loan products like award-winning car and green loans, nurtured strong relationships with new partners, including loan brokers and renewable energy installers, and brought a diverse range of new investors on board to support its growth through a range of structures.”
Mr Foggo stressed that while “rapid growth” would be a “priority” for Plenti, its traditional offering would continue to be a key part of its platform.
“We are extremely proud that in just five years we’ve helped 80,000 households achieve their goals through flexible, low-rate loans and stable investment returns, powered by our clever technology and a desire to always do the right thing,” he said.
“All the things that count about your loans and investments are here to stay, like the fast online experience, fair interest rates and flexible loan terms that match your needs.”
Mr Foggo said the lender’s brand would continue to evolve as it executes its growth strategy.
“We think our customers trust us when we say that everything we do is to build a stronger and more resilient platform for growth, allowing us to continue to deliver better value and service,” he said.
“Building towards an exciting future is in our DNA, so stay tuned for more to come.”
Over the past 12 months, Plenti has been actively expanding its presence in the third-party channel.
Most recently, Plenti joined FAST’s lender panel, which marked the non-bank’s 11th partnership with an aggregator.
[Related: RateSetter joins FAST’s lender panel]