Symple Loans
Marketplace lending company built for Australians.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor investor investor investor | €0.0 Valuation: €0.0 | round | |
* | $200m Valuation: $200m | Acquisition | |
| Total Funding | 000k | ||
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Symple Loans operates within the Australian consumer finance sector as a fintech lending company specializing in unsecured personal loans. The firm was established in 2018 by Bob Belan and Paul Byrne, both of whom possess extensive backgrounds as senior banking executives with both domestic and international experience in consumer and small business lending. This experience in traditional finance appears to have directly informed the company's strategy of leveraging technology to streamline the lending process. The company is headquartered in Melbourne, Victoria.
The business model centers on providing a digital-first borrowing experience, which aims to reduce operational overhead compared to traditional brick-and-mortar banks. These cost savings are then purportedly passed on to customers through more competitive interest rates. Symple Loans generates revenue primarily through the interest charged on the personal loans it extends to customers. The company's target market consists of creditworthy Australians seeking funds for a variety of purposes, such as debt consolidation, home renovations, or major purchases.
Symple Loans' core product is an unsecured personal loan offered through its online platform. The platform facilitates a fully digital application and approval process, designed to be faster and more efficient than conventional methods. A key feature of their offering is the use of risk-based pricing, where the interest rate assigned to a borrower is determined by their individual credit profile and financial history. This allows the company to tailor loan terms and pricing to the specific risk level of each applicant. Since its inception, Symple Loans has been granted an Australian Credit License (No. 509222) by the Australian Securities and Investment Commission (ASIC), ensuring its operations comply with national lending regulations.
Keywords: personal loans, fintech, consumer lending, online lending, unsecured loans, credit risk, digital banking, Australian finance, debt consolidation, financial services