Brave fintech MoneyMe to test the market

Trying to list a financial services company while a royal commission into banking is going on is not for the faint-hearted, but it does not appear to be preventing small financial technology lender MoneyMe from attempting the move.

Moneyme.com.au offers personal loans, cash loans, short-term loans and fast cash advances and is attempting to launch an initial public offering through Bell Potter and Ord Minnett.

The company was co-founded about two years ago by Clayton Howes, who secured $30m in debt and equity funding at the time, according to reports.

No doubt the deal will be a tough ask for the brokers involved in trying to list the business, but if only a small amount of equity is being sought, it might get away.

The float of the much larger non-bank lender, Latitude Financial, is still officially proceeding, but there has been little news about the $2bn-plus company lately.

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Source: Brave fintech MoneyMe to test the market – The Australian