- MoneyMe (MME) hit $1 billion in originations during the September quarter, while also notching up a record $23 million in revenue
- The fintech stock released its latest quarterly trading update on Monday, revealing its originations grew 283 per cent year on year to finally total more than $1.04 billion
- MME ended September with gross customer receivables of $452 million, representing a 227 per cent rise compared to Q1 FY21, while revenue jumped 92 per cent
- The company’s contracted revenue now totals $124 million, while MME recently upgraded its warehouse funding facility to give it more lending power
- Shares in MoneyMe closed up 4.21 per cent at $1.98 each
MoneyMe is celebrating after hitting a $1 billion in originations milestone during the recent September quarter of the 2021 financial year.
The fintech stock released its latest quarterly update on Monday, revealing it ended Q1 FY22 with $1.04 billion worth of originations.
A 283 per cent jump year on year in originations during the quarter helped MME hit the milestone, with $173 million originations added to the book in Q1.
It also managed to bring in record revenue of $23 million during the September quarter, representing a 92 per cent increase on Q1 FY21’s result.
The company’s contracted revenue now totals $124 million, while its gross customer receivables increased 227 per cent to $452 million by September 30.
MoneyMe CEO Clayton Howes has credited the quarterly results to an increase in its warehouse funding facility and the ongoing success of its new vehicle finance product.
“I am delighted to announce that MoneyMe has passed the $1bn origination milestone,” Mr Howes said.
“The record revenue, originations and customer receivables demonstrate our business is
continuing to accelerate even in the face of extended lockdowns.”
“This quarter’s results demonstrate 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.”
Shares in MoneyMe closed up 4.21 per cent at $1.98 each.