Wage advance FinTech, MyPayNow, reaches $500m lending milestone
Gold Coast based Fintech, MyPayNow, has officially lent out over $500 million in wage advances to eligible, working Australians.
Since inception in June 2020, MyPayNow has set out to solve the age-old problem of waiting for payday by allowing its users to access a portion of their pay early. In only 18 months of business, the company has accumulated over 270,000 user accounts with the app downloaded over 400,000 times.
In October 2021, it was announced that the company would upgrade as the Principal Partner across the NRL & NRLW teams of the Gold Coast Titans, as part of an initial landmark 3-year deal. More recently, MyPayNow have joined the Titans’ Physical & Intellectual Disability Rugby League Program, which is one of many community programs delivered across the club.
“Advancing $500m in 18 months is a massive achievement and we are proud to have reached this milestone in such a short time, with our eyes set on lending $1b by the end of next year. We have some really exciting plans in the pipeline for 2022 and can’t wait to share the news,” said MyPayNow Managing Director, Bronson Powe.