MoneyMe’s growth continues

ASX-listed fintech MoneyMe’s growth continues and has again delivered record originations and record gross customer receivables, with a step change reduction in loan provisioning whilst maintaining profitability in the half.

Customer originations of $114.3 million are up 36% on 2H FY20, with MoneyMe having now originated over $646 million since its inception. Gross customer receivables of $167.5 million were up over 25% on the 30 June 2020 result, with revenue of $23.9 million, up more than 12% on the prior comparable period.

Clayton Howes, MoneyMe’s Managing Director and CEO said, “I am delighted with MoneyMe’s profitable growth for the half year ended 31 December 2020 that continues to reflect the increasing diversification of our products and their distribution. It is exciting to see the new funding warehouse facility delivering significantly lower funding costs and new business origination capacity and our core and more recently launched products resonating so well with Generation Now. The innovation pipeline is continuing at pace as we continue to invest for massive scale and product diversification opportunities.

“A fantastic first half that sets the business up well for further high and profitable balance sheet growth,” Howes concluded.