MONEYME grows loan book to $1.4 billion, posts quarterly revenue of $50 million
ASX-listed MONEYME have provided its second quarter trading update for the period ending 31 December 2024.
MONEYME’s loan book balance increased by 21% on prior comparable period (pcp) to $1.4 billion, with $233 million in loan originations for 2Q25, up 54% on pcp. This growth was primarily driven by strong Autopay originations. Secured loans accounted for 62% of new loan originations in the quarter, excluding credit card usage, up from 49% in the pcp and down from 70% in the prior quarter.
Management anticipates continued loan book growth through FY25, with additional lending capacity unlocked by the new corporate facility and the completion of the Autopay ABS deal.
Gross revenue remained broadly in line with the prior quarter at ~$50 million for 2Q25, down on pcp in line with MONEYME’s shift to higher credit quality assets and secured loans with a lower associated risk.
Clayton Howes (pictured), MONEYME’s Managing Director and CEO, said, “MONEYME delivered strong growth in 2Q25, building on momentum with continued strong credit performance.
“The 54% year-on-year increase in loan originations is driven by particularly strong performance in our Autopay product.
“Revenue remained stable and our net interest margin was 8%, reflecting our strategic shift toward secured assets and a higher credit quality loan book. These ongoing shifts in our loan book composition and credit profile are delivering tangible benefits, reducing credit losses and supporting more favourable funding terms.
“We will continue leveraging strong Autopay demand to further increase the proportion of secured assets. In the medium term, the loan book mix will be complemented by the introduction of a new credit card product and further growth in personal loans.
“During the quarter, we strengthened our funding position and unlocked lending capacity with the completion of our $517.5 million debut auto ABS transaction and a new $125 million corporate funding facility. These initiatives will enable capital-efficient growth and funding cost reductions that will flow through in 2H25, supporting our overall margins.
“Additionally, anticipated RBA cash rate cuts in 2025 would further lower our cost of funds.
“Extending our technology advantage remains central to our strategy. Our in-house built Gen AI application is now live, streamlining operations and enhancing customer service interactions. We are also advancing the development of our revamped credit card offering, designed to fuel growth and drive strong returns,” Howes ended.
Disclosure: At the time of writing, Australian FinTech Pty Ltd is a shareholder of MONEYME Limited.
