REPORT: James Packer And Lachlan Murdoch Could Invest In Lending Startup SocietyOne

Lachlan Murdoch and James Packer could reportedly invest in SocietyOne (Getty / Ian Waldie)

James Packer and Lachlan Murdoch are considering an investment in peer-to-peer lender SocietyOne, according to a report in the Australian Financial Review.

SocietyOne is a start-up that matches lenders with borrowers, often providing both parities with more competitive rates than the big banks.

They have not signed off on the deal, according to the report, but are expected to participate in a funding round that could be finalised by the end of the year.

An investment amount is not specified by the report, which only describes the potential sum contributed by the News Corp co-chairman and gaming mogul as “in the millions of dollars”.

UBS Australia boss Matthew Grounds organised a previous investment Westpac made in SocietyOne, and it is believed he also brought the opportunity to the attention of Packer and Murdoch.

There is more here.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.