Butn achieves record originations and increased revenue margin
ASX-listed fintech Butn has delivered another record origination month in August 2022 of $35.2 million, up 62% on pcp, continuing the strong start to the 2023 financial year. This follows consecutive record origination months in April, May, June and July 2022.
Butn’s August 2022 revenue margin was approximately 2.5%, up from 2.0% in FY22, reflecting an improvement in industry mix to higher-margin segments and increased contribution of higher-margin platform originations.
Butn’s August 2022 platform originations reached a record $6.7 million for the month, contributing approximately 20% of the total monthly originations.
The accelerating record growth over recent months has been delivered with no new operational staff and combined with tight cost control has delivered a positive EBITDA result to the end of August 2022.
Butn’s Co-Founder and Co-CEO, Rael Ross said, “Our FY23 performance to date with record originations, growing revenue margins and tight cost control are all trending positively as our business scales. While the current macro environment presents SMEs with challenges, we expect the need for our integrated, simple and accessible funding to continue to increase, becoming even more relevant to our partners and their business customers.”