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Pepper plans acquisition, offers clients $1,000 cashback

by Nick Bendel10 minute read
The Adviser

Pepper has revealed it is on the verge of acquiring a new lender, while it will also give new borrowers $1,000 cashback to celebrate reaching 1,000 staff.

The non-bank lender has just added its 1,000th staff member after having a headcount of only 80 in January 2011, said director of sales and distribution Mario Rehayem.

Mr Rehayem told The Adviser that the growth had partly been driven by acquiring businesses in the UK, Ireland, Spain and South Korea since 2011.

Another acquisition might be announced within three months, he added.


“It’s offshore and it’s a lender. It’s similar to our Spanish business, which is personal loans. It also does mortgages. It’s definitely a very, very large acquisition,” he said.

Mr Rehayem said Pepper had also enjoyed strong organic growth in its home base of Australia, which now has more than 400 staff.

“After re-entering the market in a more focused way in 2011 with our specialist products and with revamped products going out, we’ve seen hockey-stick growth year on year,” he said.

“That growth pattern has not changed over three years. The one thing Pepper prides itself on is that it’s a very controlled and sustainable growth.”

Pepper has announced a special offer to celebrate reaching 1,000 staff.

Borrowers will get $1,000 cashback if they take out a near-prime or specialist home loan with a maximum LVR of 85 per cent. Applications must be submitted by October 17.

[Related: Pepper unveils new 85pc prime home loan]

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