Our top pick for
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.
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.
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.
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.
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.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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.
Stake is set to launch stock lending in Australia, but before you sign up, find out what it is and how it could impact your investments.
Despite the current market volatility, shares are now relatively cheap, creating a buying opportunity for investors.
Even before Tuesday's slide, shares in the BNPL operator were down 90% over the last 12 months.
Target shares have fallen 32% this year, and it just lowered its profit outlook. Time to sell?
Investing for kids is a great way to help them get ahead, but here is what you need to know before you sign up to a trading platform.
A home isn't the only thing you can invest in. Here's how some younger Australians are safeguarding their financial future.
A home isn't the only thing you can invest in. If buying a property is out of reach, here's how some younger Australians are safeguarding their financial future.
SPONSORED: A new generation of fintechs are offering Australians more yield on their capital.
Here is what you need to know before investing in Australia's first physically backed Bitcoin and Ethereum ETFs.
Finder Earn lets you get a return of up to 6.01% p.a. on your capital, compounded daily. Find out how it works and how to get it here.
With the cost of living rising, how can you get more in your pocket?
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.