AIL, a privately owned investment holding company incorporated in New Zealand has acquired a stake in Fundcorp Holdings Pty Ltd ("Fundcorp"), as part of Fundcorp's initial round of equity financing. The deal consideration is undisclosed.
ARC Associates, ("ARC") acted as financial advisor for AIL in sourcing and structuring this investment.
Richard Berkman, the Managing Director of Fundcorp comments, "We are delighted to have concluded this round of financing and look forward to refocusing on developing our business in Australia."
Fundcorp is a newly established special purpose consumer finance company that originates fixed rate/ fixed term loans from A$1,500 to A$50,000. It operates only in Australia and New Zealand. The loans are distributed by setting up sales aid finance programs with equipment vendors and other alliance partners.
ARC Associates is a specialist investment banking and advisory firm to the telecommunications, media, technology, financial services and property sectors.
Contact:
John Allen, Chairman
ARC Associates
+ 44 (0) 20 7614 4000