Online small business lender
Prospa has named KPMG partner Raj Bhat as head of group capital management.
Bhat joins Prospa in March after leading KPMG’s debt advisory services for nine years. He has been involved in more than $5bn in capital-raising across a range of ASX-listed and privately held Australasian finance companies, banks, credit unions and government departments.
Prior to his role at KPMG, he was vice-president at Barclays Capital and associate director leveraged finance at
Westpac. He also worked for several years at
ANZ.
“Raj has extensive understanding of the capital markets, is well respected, and has deep relationships within the capital market community including senior and junior capital providers, arrangers, rating agencies, legal advisors and service providers,” said Prospa CFO, Ed Bigazzi.
Noting that efficient access to capital is an ongoing requirement for Prospa and vital to its long-term vision, joint-CEO
Beau Bertoli said Bhat will help drive the lender’s capital strategies, so it can build “a best in class funding platform and accelerate cash flow for small businesses”.
The appointment coincides with media reports that Prospa is planning to list on the public markets this year and that it is set to look for new investors in the coming weeks, ahead of a planned IPO.
Reports say the lender has appointed UBS and Macquarie to oversee a likely IPO.
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