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29/10/20
18:16
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- Things are looking up for MoneyMe (MME), which recorded strong lending growth over FY21’s first quarter
- The lender saw its loans rise sharply in September, resulting in a 30 per cent increase on the previous month’s originations
- More broadly, the financial stock’s loans grew by 39 per cent compared to FY20’s final quarter
- MME also posted a record $12 million in revenue in FY21’s opening quarter — an 18 per cent increase on the previous corresponding period (PCP)
- The business has also increased its credit limit to $20,000, thanks to a new $167 million warehouse funding facility set up by Westpac (WBC)
- On the back of today’s update, MME shares tacked on just under 3 per cent to trade for $1.39 at market close
Read the full article here The Market Herald here.