- Fintech MoneyMe (MME) has continued to grow financially during FY21’s second quarter
- The company said loan originations for the quarter came in at $69 million, which 52 per cent higher than those delivered in Fy21’s first quarter
- At the end of December, personal loans represented 54 per cent of MoneyMe’s total loan book
- Notably, MoneyMe’s revenue hit $11.7 million during the December quarter
- On market close, MoneyMe is up 5.67 per cent and trading at $1.49 per share
Fintech MoneyMe (MME) has continued to grow financially during FY21’s second quarter.
The fintech reported its loan originations for the December quarter came in at $69 million, which is 52 per cent ahead of FY21’s first quarter. Notably, MoneyMe’s December loan originations hit$25 million — a new record. However, January is looking to beat that figure, with over $27 million in loan origination volume expected.
Origination is the process by which a borrower applies for a new loan and a lender processes that application.
At the end of December, personal loans represent 54 per cent of MoneyMe’s loan book, with an increasing average loan amount and higher credit-rated borrower.
Notably, MoneyMe’s revenue hit $11.7 million during the December quarter.
The group says there is an increased market opportunity as it expands its product range to attract new customers.
CEO and Managing Director Clayton Howes is pleased with MoneyMe’s results for the period.
“The 52 per cent increase in origination volume reflects exceptional profitable growth and it is exciting to see the new funding warehouse facility delivering a step change to funding costs and increased capacity for growth,” he said.
“With our core and more recently launched products resonating so well with Generation Now, the innovation pipeline is continuing at pace as we continue to build for massive scale and product diversification opportunities,” he added.
On market close, MoneyMe is up 5.67 per cent and trading at $1.49 per share.