With energy prices rising, switch to a cheaper plan
Compare Prices Now

How to buy Plenti shares

Own Plenti shares in just a few minutes.

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Plenti is a peer-to-peer digital lender and investments firm with a focus on personal, automotive and renewable energy lending. Essentially, customers that take out a loan through Plenti are borrowing from other users of the platform. Investors that lend to these borrowers are paid interest in return.

Plenti (previously RateSetter) listed on the Australian Securities Exchange (ASX) under the ticker code "PLT" on September 23, 2020. They successfully raised $55 million, giving them at the time an implied market capitalisation of $280 million.

How to buy shares in Plenti

  • Compare share trading platforms. To buy shares in an Australian company, you'll need to sign up to a platform with ASX market access. If you're a beginner, look for a platform with low commissions and investment tools to track your portfolio. Narrow down top brands with our comparison table below.
  • Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
  • Search for Plenti. Find the stock by name or ticker symbol: PLT. Research its history to confirm it's a solid investment against your financial goals.
  • Purchase now or later. Buy today with a market order or use a limit order to delay your purchase until Plenti stock reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  • Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimise risk through the market's ups and downs. You may be able to buy a fractional share of Plenti, depending on your broker.
  • Check in on your investment. Congratulations, you own a part of Plenti. Optimise your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

🧪How we chose these brokers

For our Top Picks, we compared our Finder partners using a proprietary algorithm in August 2020. Keep in mind that our top picks may not always be the best for you, and you're encouraged to compare for yourself to find one that works for you. Read our full methodology here to find out more.

What we know about Plenti's balance sheet

Since its launch in 2014, Plenti has grown its annual revenue to $41.5 million in the year to June, up from $28 million in FY18/19.

To date, the company has funded around $870 million in loans to more than 55,000 borrowers since it launched in 2014, including institutional and government investors, according to the prospectus. As of 31 July, it has a loan book balance of $400 million.

However, the company has been cash flow negative for the last three financial years. In the year-to-June, it reported a net loss of $16.4 million and $14.2 million the year before.

That being said, we may have hit a peak – net losses in the 12 months to September were $12.8 million. If the IPO is successful, we can expect that gap to close further.

Plenti says there are no dividends on the cards for the near future. Instead, it plans to reinvest all cash flow back into the company, making this a growth play.

Plenti investment risks

COVID-19 presents a number of risks for big and small lenders. The key risk for Plenti is higher-than-expected customer defaults and a drop in investment levels.

Recently, the company updated its lending structure and rebranded from RateSetter to Plenti. The lending restructure introduced new limits on investor rates, which meant investors could no longer set their own rate above a certain level starting from March.

According to Plenti, capping the rates will help to attract a greater volume of creditworthy borrowers and minimise lending rate volatility.

How does Plenti compare?

While Plenti might well be the most well-recognised P2P lender in Australia, there are around half a dozen competitors in the market.

Plenti tends to offer lower investment rates (max 6.5%) for lenders however it prioritises risk management with the inclusion of its provision fund which offsets the risk of borrower defaults.

There's also greater flexibility in terms of investment options, with a minimal investment starting at $10 and investment time frames from 1 month.

To find out more about P2P lending, head to our P2P Investment guide.

Compare ASX share trading platforms

To buy stock in Plenti, you'll need to open a brokerage account with access to ASX stocks. Compare your options using the table below to find the best fit.

1 - 10 of 10
Name Product Standard brokerage fee Inactivity fee Markets International
eToro (global stocks)
US$10 per month if there’s been no login for 12 months
Global shares, US shares, ETFs
Zero brokerage share trading on US, Hong Kong and European stocks with trades as low as $50.
Note: This broker offers CFDs which are volatile investment products and most clients lose money trading CFDs with this provider.
Join the world’s biggest social trading network when you trade stocks, commodities and currencies from the one account.
ThinkMarkets Share Trading
ASX shares
Exclusive: Sign up through Finder and get 3 months of free trading up to 50 trades. Offer available to new customers only.
Following your first three months, enjoy $8 flat fee CHESS sponsored brokerage as well as free live stock data all from the convenience of an easy-to-use mobile app
IG Share Trading
$2.50 for July + August ($5-$8 standard fee applies thereafter)
ASX shares, US shares, UK shares, ETFs, and more
For the months of July and August, trade Aussie shares from $2.50 and international shares from $0. T&Cs apply.
Enjoy some of the lowest brokerage fees on the market when trading Australian shares, international shares, plus get access to 24-hour customer support.
Tiger Brokers
ASX shares, Global shares, Options trading, US shares, ETFs
Exclusive to Finder: Sign up to Tiger through Finder and on completion of your first deposit of any amount or transfer of shares receive 4 extra free grab shares. T&Cs apply.
Get started with $0 brokerage on ASX and US stocks for the first 3 months upon completion of your first qualifying deposit. Also receive a free Apple share if you deposit $3,000 or more.
SelfWealth (Basic account)
ASX shares, US shares
Trade ASX and US shares for a flat fee of $9.50, regardless of the trade size.
New customers receive free access to Community Insights with SelfWealth Premium for the first 90 days. Follow other investors and benchmark your portfolio performance.
CMC Markets Invest
ASX shares, Global shares, mFunds, ETFs
$0 brokerage on global shares including US, UK and Japan markets.
Trade up to 35,000 products, including shares, ETFs and managed funds, plus access up to 15 major global and Australian stock exchanges. Plus, buy Aussie shares for $0 brokerage up to $1,000. (Limited to one buy order per stock per trading day).
GO Markets Share Trading
ASX shares, Forex, CFDs, ETFs
Zero brokerage on your first 20 trades
Trade 2,500 ASX listed shares from desktop or mobile and enjoy $0 brokerage on your first 20 trades, $7.70 trades after.
Saxo Capital Markets (Classic account)
ASX shares, Global shares, ETFs
Access 22,000+ stocks on 50+ exchanges worldwide
Low fees for Australian and global share trading, no inactivity fees, low currency conversion fee and optimised for mobile.
Bell Direct Share Trading
ASX shares, mFunds, ETFs
Invest in Australian shares, options and managed funds from the one account with no inactivity fee.
Bell Direct offers a one-second placement guarantee on market-to-limit ASX orders or your trade is free, plus enjoy extensive free research reports from top financial experts.
Superhero share trading
ASX shares, US shares, ETFs
Sign up & fund your account with A$100 or more and receive US$10 of Tesla stocks on Superhero. T&Cs apply.
Enjoy $0 brokerage on US stocks and buying ETFs as well as a flat $5 fee to trade Australian shares.

Compare up to 4 providers

Important: Share trading can be financially risky and the value of your investment can go down as well as up. Standard brokerage is the cost to purchase $1,000 or less of equities without any qualifications or special eligibility. Where both CHESS sponsored and custodian shares are offered, we display the cheapest option.

Disclaimer: The value of any investment can go up or down depending on news, trends and market conditions. We are not investment advisers, so do your own due diligence to understand the risks before you invest.

More guides on Finder

Get more from Finder

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site