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MME - MoneyMe Limited

Discussion in 'Stocks I-P' started by System, Dec 9, 2019.

  1. System

    System Administrator

    Likes Received:
    Jun 27, 2010
    MoneyMe Limited is a digital consumer credit business leveraging their technology platform (Horizon Technology Platform) and big data analytics to deliver an innovative loan offering to tech-savvy consumers.

    Founded in 2013, MoneyMe has originated over $340 million in loans through their risk-based lending platform.

    The Horizon Technology Platform allows applications to be completed within approximately five minutes and funds to be disbursed or credit facilities to be available to the customer shortly after approval. Algorithms allow MoneyMe to provide personalised, risk-based pricing which better balances risk and return in their loan book.

    It is anticipated that MME will list on the ASX during December 2019.

  2. Dona Ferentes

    Dona Ferentes

    Likes Received:
    Jan 11, 2016
    - from some chatsheet:-

    May 2020 business update
    This morning, MoneyMe revealed that its diversified customer base and target orientation growth strategy continues to minimise Covid-19 credit risk. As a result, the company has seen a continuing downward trend of payment requests due to the pandemic.

    The majority of customers who previously sought hardship relief have resumed making repayments, with only 1.7% of receivables having payments deferred.

    MoneyMe also remains confident in establishing a new funding facility. If secured, the facility will help to support asset growth and lower funding costs. However, timing is a slight sticking point. The execution of a new facility is likely to be delayed to the first quarter of FY21 due to circumstances relating to COVID-19.

    In the meantime, the company has secured a further 18 months of continued access to its existing trust funding facilities to provide funding certainty through to November 2021. MoneyMe notes that its existing facilities and cash on hand leave the company well-placed for origination funding and growth opportunities.

    New product launch
    Along with the business update, MoneyMe also announced that a new product offering, RentReady, will be officially launched in June. RentReady is a first-to-market product designed to support landlords with capital spend requirements and any short-term rent or operational requirements.

    The product features a line of credit of up to $15,000 administered by property managers for landlords, with repayment over a period of 24 months. The credit can be used by landlords for a number of different options, including general service, maintenance, and improvement spend, as well as to cover shorter-term rent shortfalls – a timely option in the current environment.

    MoneyMe highlighted the highly complementary nature of RentReady to another of its key offerings, ListReady, which assists residential property vendors with the costs of marketing their home for sale. ListReady has more than 240 agencies and 1,500 agents signed up to support vendor sales.

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