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- Fintech stock MoneyMe (MME) forms a strategic funding partnership with Australian investment firm, Pacific Equity Partners (PEP)
- Under this partnership, MoneyMe secures an initial $50 million funding commitment under a syndicated facility agreement (SFA)
- MoneyMe will use this funding to accelerate growth across its product suite and build on the success of its exisiting offerings
- Under the syndicated facility agreement, MoneyMe and PEP have planned to collaborate on further funding and value enhancing initiatives
- MoneyMe is up 2.90 per cent on the market with shares trading at $2.13 at 2:45 pm AEST
Fintech stock MoneyMe (MME) has formed a strategic funding partnership with Australian investment firm, Pacific Equity Partners (PEP).
Under this partnership, MoneyMe has secured an initial $50 million funding commitment under a syndicated facility agreement (SFA).
MoneyMe will use this funding to accelerate growth across its product suite and meet the demands of its new and rapidly growing Autopay car financing product.
The company will also use the money to develop and deliver new and enhanced products as well as build on the success of its existing products.
Under the syndicated facility agreement, MoneyMe and PEP have planned to collaborate on further funding and value enhancing initiatives.
CEO and Managing Director Clayton Howes said this partnership created significant value for the company.
“The strategic partnership with PEP is a significant development for MoneyMe. Being able to access efficient debt capital creates immense value,” Mr Howes said.
“MoneyMe’s high growth trajectory from its personal loan and Freestyle products has accelerated with the recent launch of products in the target B2B2C markets including Autopay and MoneyMe+ which are unlocking significant incremental growth pathways for the group.”
MoneyMe was up 2.90 per cent on the market with shares trading at $2.13 at 2:45 pm AEST.
