Symple sold for $200m

Symple sold for $200m

16 August 2021 By Emma Ryan
Jonathan Farrer

Corrs Chambers Westgarth has advised on a $200 million transaction that sees the sale of Symple Financial Group Pty Limited to Latitude Group Holdings Ltd.

Firm: Corrs Chambers Westgarth (Symple Financial Group Pty Ltd); undisclosed (Latitude Group Holdings Ltd).

Deal: Latitude Group Holdings Ltd (Latitude) has acquired Symple Financial Group Pty Ltd (Symple).

Value: $200 million.

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Area: M&A.

Key players: The Corrs Chambers Westgarth team advising Symple was led by partner Jonathan Farrer and included lawyers across the firm’s corporate, tax and regulatory teams.

Deal significance: Symple is a Melbourne-based consumer lending fintech founded in February 2018.

The company was launched to offer a better, faster, easier and lower cost personal loan alternative for Australian customers.

According to a statement provided by Corrs Chambers Westgarth, the transaction consideration includes a combination of cash and shares in Latitude.

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“This transaction enhances Corrs’ reputation as a leading legal adviser for start-ups,” said lead partner Mr Farrer.

“We have been involved in all aspects of Symple’s journey, from incorporation of the company in 2018 to its sale for $200 million which was announced to the market on 9 August 2021.”

Symple sold for $200m
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