Jarden, Ord Minnett prepare fintech Harmoney for IPO

Non-bank lender Harmoney is set to be pitched to private equity and public equity investors as the largest digital disrupter to the banks as part of a dual-track funding round.

It is understood Harmoney has hired stockbrokers Jarden and Ord Minnett to advise on funding options, which include a private debt or equity raising, or initial public offering and sharemarket float.

Harmoney has $1.7 billion in loans in Australia and New Zealand and recorded about $80 million revenue in the 2020 financial year.

It is expected to seek to raise about $60 million in the funding round, and use proceeds to increase scale in the competitive Australian market – which is much larger than its home market NZ.

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Source: Jarden, Ord Minnett prepare fintech Harmoney for IPO