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Auswide Bank Takes 20% Equity in P2P Lender MoneyPlace for $60 Million

MoneyPlace, Australia’s second fully licensed P2P lender and Auswide Bank have entered into a significant strategic relationship, the first of its kind in Australia. According to the official press release, the 5-year deal commits Auswide Bank to invest $60 million in MoneyPlace to grow its consumer lending business. For the bank, it is an opportunity to diversify its financing activities nationally.

For the $60 million investment, Auswide Bank is taking a 20% equity stake in MoneyPlace.

The announce ...

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