- MoneyMe (MME) records another triple-digit increase in customer originations over the June quarter
- The fintech business says originations jumped 391 per cent year on year, totalling $161 million at the end of the period
- MME’s new vehicle finance product, AutopPay, also hit $12 million in originations in the 12 weeks since it launched
- The increase in originations helped MoneyMe record $19 million in revenue over Q4, giving it $58 million in revenue for FY21
- Company shares are up 7.37 per cent, trading at $2.04 each at 2:15 pm AEST
MoneyMe (MME) has recorded another triple-digit increase in customer originations over the June quarter.
The fintech business revealed on Thursday that its originations had jumped 391 per cent year on year in Q4, totalling $161 million at the end of the period.
MME also said its new vehicle finance product, AutoPay, racked up $12 million in originations in the 12 weeks since it had launched.
The increase in originations helped MoneyMe record $19 million in revenue over Q4, a 73 per cent increase compared to Q4 FY20.
It also takes MME’s total revenue for FY21 to $58 million, up 21 per cent on the $41 million in revenue recorded last financial year.
Commenting on the company’s strong growth over FY21, Managing Director and CEO Clayton Howes said it had been an amazing ride.
“We are extremely pleased to report incredible growth and momentum in MoneyMe,” Mr Howes said.
“The record revenue, originations and customer receivables demonstrate our business is accelerating.
“This quarter’s results include significant momentum in our first secured product, Autopay, the breakthrough innovation in car lending with dealerships signing up to the new platform and a faster than expected take-up from car purchasers.”
Shares in MoneyMe rose after the release of today’s results, pushing the share price above the $2 mark for the first time.
Company shares were trading up 7.37 per cent, trading at $2.04 each at 2:15 pm AEST.