Shift completes $150 million ABS transaction

10 March 2022

Sydney, Australia – 10 March 2022 – Shift, a provider of credit and payment platforms for Australian businesses, today announced the issuance of $150 million in asset-backed securities (ABS), supported by a pool of equipment finance loans to Australian businesses.

The transaction marks Shift’s inaugural ABS transaction, achieving a AAA rating (Moodys), validating the quality of Shift’s originations using a technology-driven operating model in the under-served business finance market.

Jamie Osborn, CEO of Shift said, “This transaction is an important milestone in the growth of Shift and its funding capabilities. It is a strong result for the business and is indicative of Shift’s intention to become a regular issuer in the Australian securitisation market.”

“2022 has been off to a strong start, coming of the back of 95 per cent year-on-year growth in 2021.”

“We thank all of our partners, funders and customers for their ongoing support as Shift continues to help quality Australian businesses trade, pay and access the funds they need to operate and grow.”

About Shift

Shift is finance on demand for business. Enabled by streaming data, Shift provides credit and payments platforms that help businesses trade, pay and access funds.  As one of Australia’s fastest-growing technology companies. 

Shift is changing the way businesses access finance. Shift has been recognised by AFR’s Fast 100, Deloitte’s Technology Fast50, Smart Company’s Smart50 and Deloitte’s Asia Pacific Technology Fast 500.

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