MoneyMe’s growth further accelerates

MoneyMe have reported record originations of $170 million, up 286% year on year, and record customer receivables of $542 million, up 63% from $333 million at 30 June 2021. The contracted future revenue increase to $158 million, up 61% from $98 million at 30 June 2021. MoneyMe expects 1H22 revenue to exceed $46 million.

MoneyMe’s fastest growing product Autopay also passed the $100 million milestone in originations from launch in April 2021 with $68 million originated in the first two months into 2Q22 and $37 million in 1Q22. 

Additionally, MoneyMe settled an inaugural $50 million drawdown in November 2021 using the Syndicated Facility Agreement (SFA) announced in September 2021. The partnership with Pacific Equity Partners (PEP) is setup to support significant growth under the SFA.

Clayton Howes, MoneyMe’s Managing Director and CEO said, “I am delighted with MoneyMe’s accelerated growth with the group achieving record originations and record revenues while maintaining strong credit performance. We see this as a signal that our dynamic product, brand and service experience is paying off.

“The November FY22 year to date results highlights Autopay is gaining significant traction, with dealerships and brokers signing up to the new platform and a faster than expected take-up from car purchasers.”