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Skybound Capital buys 60% stake in Australian online loans provider

Global wealth management firm Skybound Capital acquired a 60% stake in Australian online loans provider Fair Go Finance Pty. Ltd. for A$20 million, Deal Street Asia reported.

The acquisition is part of Skybound's strategy to grow in the Australian market.

Skybound bought the majority stake from MyBucks SA, which acquired a 75% stake in Fair Go for A$3 million in 2017.

Founded in 2008, Fair Go provides fast online credit and personal loans to its customers, according to the report.