NAB partners with growth-focused fintech, Symple Loans on its $57 million warehouse facility



NAB today announced it would finance a new $57 million securitisation warehouse trust established by Symple Loans, an innovative marketplace lender that offers Australian consumers lower interest rate personal loans via its digital lending technology platform.

Symple Loans is the first new-to-bank customer to benefit from NAB’s commitment in July to provide up to $2 billion in funding to tech-enabled start-ups, providing access to debt capital and a suite of broader banking services for high potential ventures.

NAB’s Head of Emerging Technology Clients, Steve Smith, said he was delighted to be partnering with Symple on its journey and supporting the company as it transitions from early stage to high growth.

“NAB has recognised there was a gap in the market for providing early-stage debt funding for technology companies like Symple that have strong business models, high growth potential and a real focus on delivering for their customers.

“We’re committed to supporting these types of ventures, both in fintech as well as across the technology sector more widely, as they establish themselves, grow and evolve into market-leading businesses over time.

“Symple has a compelling product and customer value proposition, as well as a deeply experienced management team, so the opportunity to work with them on this deal is exciting. We see this as the start of a long-term relationship, that is underpinned by the great depth of capability NAB’s Securitisation team has to offer in the fintech sector,” he said.

Symple Loans Co-Founder and CEO, Bob Belan, said the agreement with NAB will enable the company to immediately and profitably boost its new loan origination volumes – advancing the company’s mission of lowering the cost of unsecured lending and helping to improve the financial health of Australian households.

“We’re thrilled to be partnering with NAB as we enter the next phase of our business. Our new securitised warehouse program supports our growth today and positions the company to access additional capital when needed via private, wholesale and public Asset-Backed Security markets as we build towards our $2 billion loans under management target.”



Related Articles

  • Media Release

Response to FSU work hours survey

NAB Group Executive Susan Ferrier letter to employees following FSU work hours survey.

  • 07.12.2021
  • Time to read 1 min read
  • Full Year Results

NAB 2021 Full Year Results

NAB Group Chief Executive Officer Ross McEwan today released NAB’s 2021 Full Year Results and Annual Review.

  • 09.11.2021
  • Time to read 1 min read
  • Announcements

Port of Newcastle Hydrogen Hub

  • 08.11.2021
  • Time to read 1 min read

Quick links

National Australia Bank — NAB

Sometimes When The Unexpected Happens, We Realise What We Truly Value. Whether A Home, Farm, Business Or Your Passion, NAB Is Here To Support You.

Business Research and Insights

For more business news and analysis, visit NAB’s Business Research and Insights.