MoneyMe (ASX:MME) - CEO, Clayton Howes
CEO, Clayton Howes
Source: MoneyMe
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  • MoneyMe (MME) has released an update on its performance during Q2 FY22, revealing its vehicle finance product has topped $100 million in originations
  • Autopay first launched in April this year and has since racked up $111 million in originations at the end of November, beating expectations
  • Overall, the fintech stock which sells online credit products says it’s generated $170 million in originations during October and November
  • MME’s contracted future revenue has increased to $158 million, while gross customer receivables totals $542 million at the end of November
  • Shares in MoneyMe are down 4.52 per cent at $1.90

MoneyMe (MME) has released an update on its performance during Q2 FY22, revealing its vehicle finance product has topped $100 million in originations.

MME’s Autopay car financing first launched in April this year and has since racked up $111 million in originations by the end of November.

The fintech stock said Autopay’s performance had exceed its expectations, with $68 million originated in October and November alone.

Overall, the credit company reported $170 million in originations during the first two months of Q2 FY22.

MME’s contracted future revenue has increased to $158 million, while gross customer receivables now totals $542 million at the end of November.

CEO and Managing Director Clayton Howes said he was pleased with MME’s performance during the first two months of Q2.

“I am delighted with MoneyMe’s accelerated growth with the group achieving record
originations and record revenues while maintaining strong credit performance,” he said.

“The November FY22 year to date results highlights Autopay is gaining significant action, with dealerships and brokers signing up to the new platform and a faster than expected take-up from car purchasers.”

During the quarter, MoneyMe also settled a $50 million drawdown using the
Syndicated Facility Agreement (SFA) announced in September.

MME notes the wider partnership with Pacific Equity Partners (PEP) is setup to support significant growth under the SFA.

Shares in MoneyMe were trading down 4.52 per cent at $1.90 each at 11:45 am AEDT.

MME by the numbers
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