Propell Convertible Note Investment

Propell Convertible Note

Wholesale Only*

Get exposure to a well-led, company proven through its strong growth within a $423 billion addressable market with no direct competition. They are targeting positive cash flow and EBITDA by the end of CY23.

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Tapping into the underserviced small business market

Propell targets Australia’s 2.4 million small and medium enterprises (SMEs), who are frustrated with the banks’ slow, difficult lending processes and paperwork. 38% of SMEs have indicated they are actively looking for new solutions in a market comprising $423 billion in SME loans. Since launching its SME lending platform and listing in FY21, the company has delivered impressive growth, exceeding even its own KPI forecasts.

Propell’s tech advantage allows it to scale and deliver its suite of lending products to a large and growing customer base. The company’s management believes they are able to achieve cash flow breakeven and profitability by the end of calendar year 2023, while remaining focused on becoming the go-to finance solution for Australia’s small businesses.

Investment
Highlights

  • Exposure to PHL via a convertible note
  • 30-month note term
  • 10% interest – 5% paid quarterly in arrears and 5% capitalised to Maturity
  • Conversion price at a discount of 20% to 30-day VWAP, with a share price cap of $0.07 and floor of $0.03, calculated upon conversion.
  • 7 options issued upfront for each $1 investment, strike price $0.08, expiring on 30th September 2024
  • The issuer can elect to early-redeem notes at any time, on the condition that any unpaid interest to the 12-month anniversary from Completion will be paid, with a 10% notional penalty. The Note Holder will be given the opportunity to elect to convert in any such instance.

Company Presentation

As Australia’s first and only SME-focused all-in-one finance platform, Propell’s 100% digital approach makes it highly scalable and allows for easy integration with other financial services. With a first-mover advantage, no immediate competitors, a scalable business model and partnerships with industry leaders, Propell is focused on becoming the go-to finance solution for small businesses – a single place where SMEs can live their entire financial life in a simple, convenient and 100% digital way, free from the constraints of old-fashioned banks – with the goal of reaching 100,000 clients in five years.

Read the investor presentation here

Latest Investor Briefing

57 mins | 4 July, 2022

Investor Presentation Deck

25 pages | 4 July, 2022

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What is a 708 investor?

By clicking submit, I agree to the terms of the Reach Markets Financial Services Guide that includes the Privacy Statement. Reach Markets have been engaged to manage this offer and will receive fees for its services.

*Wholesale 708 Sophisticated Investors are individuals or entities who generally qualify under Sections 708(8) and s761G(7) of the Corporations Act based on the gross income and/or net assets test verified by a qualified accountant.

  • A gross income of $250,000 or more per annum in each of the previous two financial years; or
  • Net assets of at least $2.5 million; and
  • A verified Qualified Accountant’s certificate given no more than two (2) years ago confirming the Sophisticated Investor status.  Please refer to the Corporations Act:  Specifically Section 708(08) and Section s761G(7)

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