How one team is building Prospa NZ’s SME lending success
Six years ago, before Prospa had an office in New Zealand, Karmen De Wet was so convinced that the country’s small businesses needed quicker, fairer access to funding that she sent her CV directly to the company’s founders in Australia – no job ad, no recruiter, just determination. The founders shared it with Adrienne Begbie, who had recently become Prospa New Zealand’s managing director, and she brought De Wet on board to help grow the business. Within months, De Wet and two others were travelling around, introducing advisers to a lender few knew about but many soon trusted.
That is how one of New Zealand’s most enduring business development teams began. De Wet, Huia Manuel and Adam Fasi have stayed together since Prospa’s launch in this country, growing with the company through market shifts, a global pandemic and economic headwinds. Their mix of speed, empathy and humour has helped the fintech carve a place among traditional banks, proving that in small business finance, relationships still drive resilience.
Spotlight
Prospa is New Zealand’s small business online lending specialist, providing market-leading capital products and solutions to help Kiwi small businesses grow and prosper. Established in 2012 in Australia and 2018 in New Zealand, Prospa ensures applications are simple and funds can be accessed within 24 hours. Its cash flow products and services enable small businesses to grow and take advantage of opportunities, and can help them pay for goods and services.
Company Profile
$750m+
Amount of lending since New Zealand operations began
6
Years of operation in New Zealand
80%+
Approval to settlement rate
65%+
Loan approval rate
70%
Proportion of settled customers who are return customers
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“The thing I really love about Prospa is the innovation. Our team is continually developing new products and ideas. There’s always something new and exciting on the horizon”
Karmen De Wet,
Prospa NZ
“When I say I love people,
I really mean it. I can be out talking to or presenting to people all day long, and I come away feeling energised”
Huia Manuel, Prospa NZ
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Published 27 Oct 2025
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Adam Fasi
Karmen De Wet
Huia Manuel
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When Prospa entered New Zealand’s business lending market, three BDMs helped it grow. Today, their teamwork remains the company’s quiet advantage
IN PARTNERSHIP WITH
Karmen De Wet
Business development manager
Has training as a
stand-up comedian (paid for by Prospa NZ!)
Fun fact
Adam Fasi
Business development manager
Has a side hustle as a wedding celebrant
Fun fact
Huia Manuel
Business development manager
Ran a café with her husband in Adelaide Hills called Tango’s, after her mother’s maiden name
Fun fact
The BDM team
“The most rewarding part of my job is building that trust and long-standing partnerships with [business owners]”
Adam Fasi,
Prospa NZ
Prospa NZ
BDMs in the spotlight
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Being picked to lead ORDE's distribution team
career highlight
3 years
tenure at current position
25
Years of experience
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2019
2022
2023
2024
2025
Prospa NZ establishes operations in New Zealand | First NZ warehouse funding facility (three-year committed, NZ$45 million), enabling local lending capacity
2019
Line of Credit product (up to NZ$150,000) launched as Prospa NZ scales its cash flow lending offering
2022
Launches first SME lending app in New Zealand, crossing the milestone of more than NZ$500 million in originations in the local market
2023
Introduces Bill Pay and expanded product features (higher Line of Credit limits, longer terms, more flexibility) to deepen the company's SME tools suite
2024
Line of Credit increased to $500,000, offering SMEs half a million in credit on a drawdown basis | Launch of dedicated app for advisers
2025
Milestones
2019
2022
2023
2024
2025
Prospa NZ establishes operations in New Zealand; first NZ warehouse funding facility (three-year committed, NZ$45 million), enabling local lending capacity
2019
Line of Credit product (up to NZ$150,000) launched as Prospa NZ scales its cash flow lending offering
2022
Launches first SME lending app in New Zealand, crossing the milestone of more than NZ$500 million in originations in the local market
2023
Introduces Bill Pay and expanded product features (higher Line of Credit limits, longer terms, more flexibility) to deepen its SME tools suite
2024
Line of Credit increases to $500,000, offering SMEs half a million in credit on a drawdown basis; launches dedicated app for advisers
2025
Milestones
2019
2022
2023
2024
2025
Prospa NZ establishes operations in New Zealand; first NZ warehouse funding facility (three-year committed, NZ$45 million), enabling local lending capacity
2019
Line of Credit product (up to NZ$150,000) launched as Prospa NZ scales its cash flow lending offering
2022
Launches first SME lending app in New Zealand, crossing the milestone of more than NZ$500 million in originations in the local market
2023
Introduces Bill Pay and expanded product features (higher Line of Credit limits, longer terms, more flexibility) to deepen its SME tools suite
2024
Line of Credit increases to $500,000, offering SMEs half a million in credit on a drawdown basis; launches dedicated app for advisers
2025
Milestones
Since 2019, New Zealand’s small business lending market has grown quickly. Once there were few options beyond traditional banks, with limited alternative financing options for entrepreneurs seeking speed and flexibility. Fast-forward to 2025 and
non-bank business lending has roughly doubled, according to Reserve Bank of New Zealand funding data.
In this environment, Prospa has established itself as a serious player in the space, partly through the efforts of the small, tight-knit business development team that has built lasting partnerships with financial advisers across the country.
The team’s longevity is unusual in an industry known for high turnover, creating what they describe as a culture of camaraderie at Prospa built on complementary differences rather than forced uniformity.
The launch years De Wet joined Prospa before the company had even established its New Zealand presence, a reflection of the market opportunity she saw.
“When I first came across Prospa, I was running my own startup and working with SME owners. I immediately recognised that New Zealand needed this kind of flexible, fast business funding,” says De Wet.
“I was so convinced that I took the initiative. I sent my CV directly to founders Greg Moshal and Beau Bertoli on LinkedIn and was lucky enough to join the team when Prospa launched in New Zealand.”
That early period of market entry remains a high point for De Wet. “My career highlight was being a part of the Prospa New Zealand launch. I loved the excitement of introducing something new to the market, the hustle of calling advisers and bringing a new product to market,” she says.
Manuel came to Prospa from a different angle, transitioning from mortgage lending to business finance. Her background includes running a café in the Adelaide Hills with her husband – an experience that provided first-hand insight into the challenges facing small business owners.
“After a rewarding career in mortgage lending with both bank and non-bank institutions, I was ready for a new challenge,” Manuel says. “I was excited to dive into the world of business lending, bringing a successful, established fintech brand from Australia to the Kiwi market.
“It was an opportunity to grow professionally and introduce an innovative new product to support local SMEs.”
Fasi was drawn by the opportunity to move beyond transactional relationships. “Before joining Prospa, I was working in business finance as an account manager, but I was looking for an environment with greater growth potential,” he says. The appeal was clear: a chance to build something from the ground up in a new market.
“Prospa was new to the New Zealand market, and the chance to be part of the initial growth trajectory was hugely appealing. What sold me on the role was the opportunity it provided to move beyond transactional relationships and cultivate more meaningful, long-term partnerships with advisers,” Fasi says.
What makes the team work The three BDMs bring distinctly different strengths to their roles, creating a balance that allows the small team to cover significant ground. De Wet emphasises her proactive approach to client service.
“I’m very proactive. An adviser will never have to wait long for a response or chase me for information. It sounds simple, but by being fast, effective and efficient, I can compress timelines and accomplish tasks more quickly,” she says.
Manuel’s strength lies in her genuine enthusiasm for human connection, something that translates directly into building trust with advisers and their clients.
“When I say I love people, I really mean it,” she says. “I can be out talking to or presenting to people all day long, and I come away feeling energised.” For someone whose role requires constant relationship-building, this is both a personality trait and a professional advantage.
“No matter who I’m talking to, I can always find a way to connect with them and find common ground. In my line of work, that’s really helpful. It builds trust quickly, opens doors and turns initial conversations into lasting partnerships,” Manuel says.
Fasi takes a different tack, using humour to defuse the formality that can characterise financial services interactions. “I like to bring fun and humour to the role,” he says. “Business finance can sometimes be perceived as dry and overly serious, but the people who work in it aren’t. A well-timed joke at the beginning of a presentation is a simple but effective way to break the ice and show my personality. It helps everyone relax and get to know each other better.”
Operating in a difficult economy The past year has presented significant challenges for New Zealand’s small business sector, as many of the entrepreneurs Prospa aims to support are facing a stressed operating environment.
Conditions have been tough across nearly every sector, with credit bureau Centrix data showing credit defaults only just starting to fall in September after increasing for many months. Company insolvency levels have been high, especially in construction, retail and hospitality, partly on the back of greater enforcement activity from Inland Revenue.
De Wet acknowledges the complexity of lending during such periods. “The biggest challenge has been navigating the current economic climate. With high
These differences extend beyond working styles. De Wet says, “We have a running joke about how differently we all vote, but those differences are, in fact, our strength.” Rather than seeking homogeneity, the team has learned to leverage their distinct perspectives.
The company’s approach to professional development reinforces this philosophy. Fasi notes that Prospa invests in helping team members develop in ways that suit their individual interests and strengths.
“Prospa is a good fit because it is fundamentally people focused. The company has consistently invested in my professional development, understanding that being the ‘best version of myself’ is what helps the team succeed,” Fasi says.
“It’s not about forcing people to fit a restrictive mould; it’s about identifying and playing to everyone’s individual strengths, which brings out the best in the entire team.”
De Wet’s experience illustrates this commitment to individualised development in an unexpected way. “Prospa paid for me to do a stand-up comedy course!” she says. “We have access to funds to support our personal and professional development, and last year I graduated my stand-up comedy course by performing at an open mic night.”
Building adviser networks The team’s work centres on relationships with financial advisers who connect small business clients with Prospa’s lending products. This requires consistent communication, education about products and support through the application process.
Manuel particularly enjoys this aspect of the role. “I really enjoy working with advisers, whether that’s educating them about Prospa and what we do, or working with them to workshop and close a deal,” she says.
“It’s great knowing that we are helping business owners, especially in a tough economic environment where entrepreneurs face numerous challenges.”
Fasi echoes this sentiment, emphasising the long-term nature of these partnerships. “The most rewarding part of my job is building that trust and long-standing partnerships with them. I get to help them grow their own businesses, and together we can help their SME clients achieve their goals,” he says.
“That feeling of shared success is what makes my work worthwhile.”
For the fourth year in a row, the team took their relationship-building efforts on the road, conducting national roadshows that allowed them to meet advisers in person across New Zealand. Manuel describes the tour as one of the highlights of the year. “The most recent highlight was hitting the road for our national roadshows where we met advisers face-to-face, from Whangarei all the way down to Queenstown,” she says.
The tiki tour yielded results quickly: approximately 60% of the advisers they met submitted a lead shortly after the roadshows.
“This [was] an excellent opportunity to understand the specific regional challenges and opportunities that our partners and their clients face,” Manuel says.
inflation, reduced consumer spending and a tight labour market, it’s a difficult time for small business owners,” she says. The team’s response has involved closer communication with advisers to understand what their clients are facing.
Fasi’s approach has been to focus on controllable factors rather than broader economic trends. “The most significant challenge has been the broader economic impact on SMEs. Rather than getting caught up in factors we can’t control, we’ve focused on what we can influence – being there and being available for our advisers when they need us most,” he says.
“We’ve met this challenge by ensuring our communication is transparent and proactive, thereby securing the best possible outcomes so that all parties can navigate the uncertainty and emerge in a strong position.”
Manuel sees the challenging environment as reinforcing the value of Prospa’s offerings. “I love talking to people and hearing their stories, building relationships and sharing in their success as well as the success of their clients,” she says.
The work itself Beyond the relationship building and economic challenges, what keeps the team engaged is the nature of the work itself. De Wet highlights the pace of product development at Prospa.
“The thing I really love about Prospa is the innovation,” De Wet says. “Our team is continually developing new products and ideas. There’s always something new and exciting on the horizon.” This constant evolution means that the excitement of the launch period continues in smaller doses with each new product or tool.
For Manuel, the focus remains squarely on people. “For me, it’s all about relationships and people,” she says. “I love working with people, whether that’s my team or our partners.”
Fasi’s perspective encompasses both the immediate work and the broader trajectory. “Ultimately, I love the work we do with advisers – building those deep relationships and helping Kiwi businesses grow,” he says.
A team built to last In an industry where relationship quality often determines success, Prospa’s business development team has turned stability into a competitive advantage. Six years together has created institutional knowledge, established networks and a working rhythm that allows them to respond quickly to both adviser needs and market changes.
The team’s diverse personalities and approaches – from De Wet’s speed and efficiency to Manuel’s genuine enthusiasm for connection, to Fasi’s use of humour – create a comprehensive service model that can adapt to different adviser preferences and situations.
“My biggest highlight isn’t a single accomplishment,” Fasi says. “It’s the six years I’ve spent with my team. Through all the market ups and downs, the dedication and culture we’ve built at Prospa have kept us strong.”
In an industry built on numbers, that kind of chemistry may be the hardest thing to measure – and perhaps the most valuable.
IN PARTNERSHIP WITH