Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised Symple Financial Group Pty Limited (Symple) on its $200 million sale to Latitude Group Holdings Ltd (Latitude).
Symple is a Melbourne-based consumer lending fintech founded in February 2018 to address what it saw as an opportunity to offer a better, faster, easier and lower cost personal loan alternative for Australian customers. The company uses its state-of-the-art digital lending platform, advanced analytics and sophisticated risk-based pricing techniques to attract credit-worthy borrowers, funded by Australian institutional and private investors.
The transaction consideration includes a combination of cash and shares in Latitude.
The Corrs team working on this matter drew from expertise across the firm’s Corporate, Tax and Regulatory teams.
According to lead partner on the matter, Jonathan Farrer: “This transaction enhances Corrs’ reputation as a leading legal adviser for start-ups. We have been involved in all aspects of Symple’s journey, from incorporation of the company in 2018 to its sale for $200 million which was announced to the market on Monday (9 August 2021).”
Bob Belan, CEO of Symple, said: “We started on the CorrsEdge platform and have been supported by a number of specialist teams within Corrs as our business has grown. We’ve been incredibly impressed by the way the Corrs team has worked together to help support our business as our needs changed over time.”
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