Sydney fintech firm MoneyMe to invest $10m in Newcastle operations

SYDNEY-based fin-tech firm MoneyMe plans to invest up to $10 million in Newcastle and create about 100 jobs over the next three years.

Co-founder Clayton Howes says the move to set up a Hunter office by MoneyMe, which specialises in offering fast credit up to $15,000 via mobile, has been a year in the making.

The company will soon temporarily move 10 staff in the DASH co-working space in Charlestown and has earmarked permanent offices in the East End.

Mr Howes said the company was impressed by Newcastle’s smart city credentials and innovation culture and saw its proximity to Sydney as an advantage.

“It’s a bit like how San Francisco and Silicon Valley relationship was formed,” he says. “While we live in a virtual world, geographical proximity still plays a part.”

Mr Howes says MoneyMe will invest $2.5 million in Newcastle in the first year of kick-starting its operations “then that ratchets up progressively as fast as the talent pool and success story unfolds.”

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Source: Sydney fintech firm MoneyMe to invest $10m in Newcastle operations | Newcastle Herald