MELBOURNE: Solvar Limited (ASX: SVR), a leading provider of automotive and consumer finance, has announced the strategic acquisition of a 19.9% stake in Earlypay Limited (ASX: EPY), a prominent financier for Australian small and medium enterprises (SMEs).
The move aligns with Solvar’s strategy to tap into underserved commercial markets and diversify its portfolio.
Earlypay specializes in working capital solutions for SMEs, offering equipment finance and invoice finance products. Its services enable businesses to purchase new equipment and manage cash flow gaps by providing early payments on unpaid invoices. Solvar’s investment underscores its commitment to broadening its footprint in adjacent financial sectors.
Stuart Robertson, Chairman of Solvar, emphasized the strategic fit of the acquisition: “Earlypay’s expertise in SME finance complements Solvar’s mission to serve underserved markets. This investment not only expands our commercial reach but also positions us to leverage synergies between our platforms.”
The acquisition is expected to enhance Solvar’s offerings beyond its core automotive and personal loan segments, where it has funded over $2 billion in loans across Australia and New Zealand. Earlypay’s established presence in SME finance provides Solvar with immediate access to a growing market.
Solvar is a market-leading finance company with over 20 years of experience in consumer and commercial lending. Known for its technology-driven loan processes, Solvar operates across Australia and New Zealand, serving customers through brokers, online platforms, and direct channels.