IPO Watch: Profitable lender MoneyMe is the latest fintech to join the ASX

Another fintech is listing on the ASX today – personal lender and credit provider MoneyMe.

The company began in 2013 and provided its first loan in May of that year.

Since then it has handed out 230,000 loans worth around $430m. It reached break-even in the 2017 financial year.

Fintechs on the ASX that have been listed for over 12 months have gained an average 107 per cent in that time, according to Bloomberg.

And fintechs that have listed in 2019, including Splitit (ASX:SPT), Sezzle (ASX:SZL) and Tyro Payments (ASX:TYR), all enjoyed stellar gains post-listing.

MoneyMe founder Clayton Howes told Stockhead the time was right to list and the ASX was the ideal market. Ninety per cent of MoneyMe staff invested in the IPO.

“Access to the capital markets makes us dangerous – it will create the advantage for us to expand our product range and relevance for customers,” he said.

“We think the market will reward us for being a profitable business.”

“The ASX is a credible place for businesses to operate in. Businesses and other parts of the market can hear about us, an Australian company doing well with an expansion proposition and profitable.”

“It’s the right place and space to flourish.”

To read more, please click on the link below…

Source: IPO Watch: Profitable lender MoneyMe is the latest fintech to join the ASX – Stockhead