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Fair Go Finance, founded in 2008 by CEO Paul Walshe, offers online credit and personal loans. They are a non-banking finance company, which, according to November 2018 data from Australian Bureau of Statistics which showed traditional banks in Australia are losing market share.
Fair Go Finance offers cash loans, car loans, bad credit loans, debt consolidation loans and bond loans. Loans range from $500 - $2,000 with repayments over 3-12 months, $2,000 - $5,000 with repayments over 3-24 months and $5,000 to $10,000 with repayments up to 3 years.
In January 2017, Frankfurt-based MyBucks announced they acquired a 75% stake in Fair Go Finance for AU$3 million, issued through 117,613 shares at €17.67 per share. MyBucks saw the acquisition as a way to expand into the Australasian market with established client base and localized operational knowledge.
Announced in August of 2018, Fair Go Finance acquired non-bank Funco Pty Ltd, which traded as Capfin Money. Fair Go Finance felt the merger enable them to better adapt to regulatory and market changes.
Skybound Capital, a global wealth management firm, acquired Fair Go Finance in September of 2019 for AU$20 million. They bought a 60% stake from MyBucks. Skybound Capital, with offices in London and Hong Kong, felt the acquisition gives them an opportunity to grow in the Australian market.
