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SME lender Prospa has rolled out a new logo design signifying its “new era in small business financial management service”.
Non-bank lender Prospa has revamped its logo (see below) and launched a new “all-in-one” business account for small businesses.
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According to Prospa, the rebrand signifies its move away from being purely an online lender to a provider of small-business financial management services.
It comes as the fintech aims to “rival the major banks” by expanding its product portfolio with the new business account, which enables users to manage cash flow via a free account, with no minimum balance or deposits needed.
Prospa flagged that business account users can utilise a Visa Business Debit Card and manage debit card payments via Apple Pay or Google Pay, utilise “near-instant” payment methods at home or overseas, pay bills via BPAY, or schedule payments in advance.
Users can also view all of their Prospa financial accounts via desktop or mobile app, as well as the new overdraft offering (currently in pilot phase).
Prospa CEO and co-founder Greg Moshal commented: “Over the past 10 years, Prospa has put our knowledge and understanding of small business to work…
“From day one, we have aimed to give our customers an experience that is not just a little bit better, but 10 times better. It’s why we invest in deeply understanding our customers and what pain points small businesses have — and what the traditional banks aren’t solving…
“We’ve continued to invest in research, and listened to our customers, which has prepared us for the next 10 years of growth.”
Noting the launch of the business account, Mr Moshal said: “We know small business owners are time-poor and using an average of six to eight apps for day-to-day financial management, and that access to working capital is still the biggest issue they face. It’s why we’ve introduced the Prospa Business Account.
“The Business Account is the next step in our evolution and underpins our commitment to help unleash small business potential, through our simple, seamless, and stress-free financial management platform.
“Prospa will continue to disrupt traditional banks with cutting-edge, technology driven solutions that will elevate customer interactions and create brilliant experiences.”
Speaking to The Adviser, Roberto Sanz, national sales manager at Prospa, added that brokers’ clients can apply for a business account and start using their account straight away.
He added that while the lender was pivoting to become an SME financial services provider, Prospa’s “core focus will always be [its] capital products”.
“As our co-founder and CEO Greg Moshal says, the challenge we are solving for small business owners will be the same in 100 years as it is now: access to the capital that makes business happen,” Mr Sanz said.
“There will always be a need for small businesses to access working capital, and there will always be a need for small businesses to access the support of Prospa’s trusted broker network.”
[Related: Prospa flags ‘opportunity’ for brokers to help SMEs]
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