Four years after opening our first office in Sydney, Prospa has moved into new digs on Yurong Street, embarking on the next stage of our journey to change the way small business owners experience finance and to accommodate our burgeoning team of 90 staff.

Officially opened by The Hon. John Barilaro, MP – NSW Minister for Regional Development, Minister for Skills and Minister for Small Business, the event was attended by a wide range of partners, small business customers, media and staff.

Breaking down traditional barriers

The opening ceremony was kickstarted with a short speech by Minister Barilaro, a former small business owner and firm supporter of helping small business owners succeed.  

Instead of the traditional ribbon cutting ceremony, the Minister picked up a sledgehammer to knock down a ‘brick wall’ – a symbolic gesture about removing the barriers and helping make finance more accessible for small business owners.

Minister Barilaro said, “Access to finance has always been the number one issue that gets raised with me as Small Business Minister and regardless of where you are around the globe, it’s the number one impediment for small businesses to grow.”

“There has always been a void, a space and an opportunity to look at ways of lending to small businesses and, what I love about this is not the technology, but that you [Prospa] actually understand small business. When I hear the great stories of businesses you support, it proves that you’ve got a formula that works. That is, financing small business to grow in the short to medium term – and that is exciting,” said Minister Barilaro.

Speaking on behalf of Prospa, Joint-CEO Beau Bertoli revealed that Prospa has gone from $0 to $150 million in loan originations in four years and the new office was the their sixth since 2011.

“When we first started the challenge was convincing people to work for us, now it’s finding space to accommodate the team.”

“Greg and I are very proud to lead the country’s fastest growing technology company. In a short space of time, we have cemented ourselves as the leading force within Australia’s alternative finance sector,” Bertoli said.

Bertoli along with Joint CEO Greg Moshal thanked all staff, partners and the small business community that Prospa serves.