How Airtree invested in Prospa's $25m round reveals which start-ups get cash

"We are often asked why we invest in a particular company. Now that the dust has settled around Prospa's recent $25 million funding announcement, I thought it would be a good time to share our investment thesis.

Describing how we ended up leading its round is a good way to do that.

We see huge untapped local markets that are ripe for disruption. Prospa's addressable market is $20 billion in five years and any cursory glance at health, government, wealth or fintech will show up huge opportunities.

Yes, these markets are complex, riddled with regulation and powerful incumbents but the prize for success is huge and we expect to see several billion-dollar tech companies tackling large local markets emerge over the next few years." Read more

Craig Blair Australian Financial Review 17 Mar 2017