Plenti has secured a line of credit to grow its renewable energy and personal loans offering.
The Australian peer-to-peer lender, which previously used the RateSetter branding, announced it has a AUS$100m (£56.3m) warehouse facility from an unnamed domestic bank and two institutional investors.
The Plenti renewable lending business has funded more than 11,000 loans for solar power purposes since inception, culminating in more than AUS$100m of finance.
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“Mass adoption of clean energy is critical to Plenti’s future,” Daniel Foggo, chief executive of Plenti, said.
“Solar power, in particular solar batteries, allow households to be self-sufficient from the energy grid.
“Solar batteries also empower homeowners to achieve sustainable financial independence through low energy bills. Supporting Australians make the switch to green energy just makes sense.”
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The facility takes Plenti’s total warehouse funding programme to $375m.
“It is fantastic to have received further support from our bank funding partners and introduce two new investors to our warehouse funding programme,” Foggo added.
“We appreciate their shared commitment to helping to support our environment by helping Australians finance the purchase of new energy technologies such as solar panels and home batteries.”
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