find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Bank lends a hand in fintech sector

Bank lends a hand in fintech sector

Ian Edmonds-Wilson

An Australian fintech start-up has secured a multimillion-dollar debt facility led by a big four bank.  

Firms: King & Wood Mallesons (zipMoney and FIIG Securities); Ashurst (NAB)

Deal: zipMoney secured a debt facility from NAB and FIIG.

Value: $260 million

Area: Banking and finance

Key players: King & Wood Mallesons partner Ian Edmonds-Wilson (pictured) advised zipMoney on the landmark transaction, supported by senior associate Anny Chen.

KWM partner Paul Smith, supported by senior associate Daniel Bragg, acted for FIIG.

Deal significance: ASX-listed retail lender zipMoney has secured a $260 million debt facility, comprised of $200 million in senior funding from NAB, $40 million in mezzanine funding from FIIG and $20 million in junior notes and equity.

The transaction is the largest debt market deal in the Australian fintech sector to date, according to a statement from KWM.

The firm’s lead partner, Ian Edmonds-Wilson, said a big four bank lending a significant sum of money to the fintech company shows that confidence in this emerging sector is growing.

“The deal will have a significant positive impact on zipMoney, supporting future profitability and growth,” Mr Edmonds-Wilson said.

KWM also advised zipMoney on its $100 million debt facility from Victory Park Capital in 2015.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Bank lends a hand in fintech sector
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...