Plenti and NAB have entered into a strategic partnership in which Plenti will provide ‘NAB powered by Plenti’ and its own-branded finance solutions to NAB’s personal banking customer base. The strategic partnership, Plenti said, “combines NAB’s trusted brand and deep customer relationships with Plenti’s award-winning consumer finance experiences, efficiency and technology”. ‘NAB powered by Plenti’ car and EV loans are expected to be launched in the first half of 2024. Select Plenti household renewable energy finance solutions are also expected to be made available to NAB customers next year. Plenti and NAB have additionally entered an equity investment agreement, which provides for NAB to acquire or subscribe for up to 15 per cent of Plenti’s share capital, based on the achievement of certain milestones. NAB may make market purchases of up to 5 per cent of Plenti’s share capital over the next 18 months. NAB may also subscribe (and correspondingly Plenti must make a placement to NAB) for 5 per cent of Plenti’s share capital, exercisable within two months of the car and EV loans launch, at a minimum price of 90 cents. Further, NAB may subscribe for a further 5 per cent of Plenti’s share capital, at a price per share at around A$1.20.