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MoneyMe: Announces further funding cost reductions | Fintech InShorts: Latest fintech news, analysis by experts

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MoneyMe: Announces further funding cost reductions

By Steve Sam

November 18, 2020

Fintech stock MoneyMe (MME) has announced its debt funding costs have reduced to 4.8 per cent following a refinancing of its funding facilities
The changes include adding the Australian Office of Financial Management (AOFM) $58 million mezzanine funding into the new Major Bank warehouse
It also includes refinancing of the existing Velocity warehouse to bring MME’s total funding capacity to $227 million
The company has also expanded its customer base to target higher loan transactions and customers with lower personal loan pricing
Additionally, MoneyMe revealed it had recorded its best month for originations since January this year
Shares in MME have closed trading for $1.45 each, down 2.36 per cent

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