Symple Loans closes $15 million in latest funding round

Firm says funds will be used to “further accelerate” its growth strategy

Symple Loans closes $15 million in latest funding round

Symple Loans, a digital lender based in Melbourne, closed $15 million in its recent Series D funding round.

The latest funding round takes Symple Loan’s total capital raised to date to more than $130 million in combined equity and debt – including an $11 million Series C capital raise in January 2020.

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In a statement, Symple Loans said that it will use the funds to “further accelerate its profitable growth strategy and for targeted investments in new digital capabilities to meet what it expects will be increased lending demand among Australians as the country’s economy recovers from the COVID-19 recession.”

“We’re thankful to our investors for the ongoing support of our strategy and their confidence in our ability to deliver outperformance outcomes,” said Gareth Thomas, chief investment officer of Symple Loans. “Symple’s business model has proven resilient during this time of volatility - we’re fortunate to be well capitalised and well positioned to further scale in the coming months and beyond.”

“Symple, along with our Australian fintech peers, has a role to play in supporting the country’s recovery and addressing the inherent consumer demand for better, faster and more affordable lending options,” said Bob Belan, co-founder and chief executive officer of Symple Loans. “We remain focused on building on our momentum to date and doubling-down on our vision to redefine how personal lending ought to work.”