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Fintech startup MoneyMe hits $100 million loans; sets eyes on niche loans market

Fintech startup, MoneyMe Financial Group, has this week broken through the $100 million loan mark, after record daily compounded growth of 2,747 per cent in its medium amount and personal loans offerings drove its lending volume exponentially in the past few months. This rapid acceleration, combined with record low default and customer complaint rates, now sees MoneyMe set to launch a series of niche loan products over 2017, all designed to provide greater financial inclusion for the growing Australian millennial market. “To have reached this exciting milestone so quickly really is validation that the millennial market is actively looking for financial alternatives to the big banks and their […]

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Jun

Fintech MoneyMe progresses diversified lending platform, entering phase ‘2.0’

Consumer fintech startup, MoneyMe, has announced it’s launch into what they’re calling ‘MoneyMe 2.0’, with the release of a new $10,000 loan product, expanding it’s portfolio of all-purpose consumer loan products designed for the tech- savvy, convenience-driven millennial market. The product expansion signals MoneyMe’s transition from being a simple small loans provider, to a diversified consumer lending fintech driven by an advanced in-house technology platform that automates loan application approvals and reduces interest costs through intelligent customer profiling algorithms. “MoneyMe’s ultimate objective has never been to remain in one segment of the lending market, rather from day one we envisaged using technology to revolutionise the way finance is delivered to […]

Borrowing . FinTech . Lending

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Feb

MoneyMe gets $30m capital raise

Consumer fintech firm, MoneyMe, has announced a $30 million capital raise from an ultra-high net worth Australian family office, which has branched out into fintech after investing mostly in large scale property on the eastern seaboard. The capital raise includes both debt and equity, and will fund the launch of a series of niche financial products aimed at millennial throughout 2016. MoneyMe chief executive, Clayton Howes, said the millennial market was important for fintech as they were inclined to spend big on lifestyle and convenience, and were willing to pay a premium for it. “Fintechs with the ability to create niche products that are delivered in a tailored way that […]

Borrowing . FinTech . Investing

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