MME 0.70% $1.44 moneyme limited

MME BOLSTERS MAJOR BANK FUNDING BY $50M

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    • MoneyMe (MME) has extended a senior warehouse facility with an Australian Big Four bank by $50 million ahead of its upcoming half-yearly report
    • The digital lender has extended a senior funding commitment with Westpac, initially signed in September 2020, from $100 million to $150 million
    • The initial facility significantly cut warehouse funding costs for MME, and today's extension has the same terms as the September deal
    • The funding extension is a major vote of confidence for MoneyMe's tech and credit quality from the major Australian bank
    • It gives the company more runway for growth and stronger business economics even as it maintains the ability to keep prices for customers low
    • Shares in MoneyMe are trading 3 per cent higher this morning at $1.54 per share
    Read the full article on The Market Herald here.
 
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