Upside Case Board and management team experienced in building financial services businesses Well capitalised following $15m raising and strong backers (255 Finance and Bendigo and Adelaide Bank) for its loan book Loan book is growing faster than its larger peers

Downside Case Small player in a segment of less than 1% of the personal lending market Competitors have aggressively grabbed market share over the past two years Takeover potential could diminish the upside for existing shareholders

- RaaS Advisory 3 May 2019