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.
