MONEYME secures A$125 million funding facility with iPartners

ASX-listed MONEYME have announced that it has formed a strategic funding partnership with one of Australia’s leading alternative asset investment platforms, iPartners.

MONEYME has secured a new A$125 million corporate funding facility which will replace its existing facility on substantially better commercial terms.

The new facility will refinance MONEYME’s existing corporate debt, originally maturing in November 2025 with no early payment costs, while also enabling significant loan book growth and providing general working capital for MONEY.

The initial drawdown on the facility will be A$65 million, with a further A$60 million available on an uncommitted basis.

Settlement of the new facility with iPartners is expected to occur on Friday 20 December 2024, subject to satisfaction of customary conditions precedent.

The structuring advisor on this transaction was Neu Capital, with Gilbert + Tobin and Hamilton Locke acting as legal advisors for MONEYME and iPartners.

Clayton Howes, MONEYME’s Managing Director and CEO, said, “This funding partnership with iPartners is significant for MONEYME and supports our strategic objectives.

“This 2.5x larger facility, at a greatly reduced funding cost, and importantly without dilution to shareholders, will unlock significant incremental growth opportunities for the Group and support our continuing growth strategy in 2025 and beyond. We are pleased to have executed this part of our strategy ahead of time, and we are excited to begin the new year with this in place.

“We have been extremely impressed with the iPartners team and are looking forward to a long and successful partnership.”

Travis Miller, iPartners Co-Founder and CEO, added, “We have watched MONEYME’s impressive growth across various securitisations, funding programs and product suite and wanted to get involved. We are excited now to have a seat at the table and to have done our part in helping achieve their next phase of growth.”