Moneyme announces extension of funding facility

Moneyme Limited (ASX: $MME) has announced the extension of its MME Autopay 2021 warehouse funding facility, doubling the capacity from $375m to $750m. The extended facility is utilized to fund loan originations of Moneyme's car loan product, Autopay.

Executive commentary on funding expansion

This is a significant step in optimizing Moneyme's funding program that allows improved efficiency of capital allocation and risk-adjusted returns. The car loan market is a strategic focus for Moneyme, and this funding increase is an important growth enabler for our Autopay product. The release of unrestricted cash will further support the growth of our business.

Summary of Moneyme's funding expansion

Moneyme Limited (ASX: $MME) has extended its MME Autopay 2021 warehouse funding facility, doubling its capacity to $750m. The extended facility is expected to enable increased originations growth, resulting in greater economies of scale and profitability going forward. The expansion is seen as a significant step in optimizing Moneyme's funding program, allowing improved efficiency of capital allocation and risk-adjusted returns. The release of unrestricted cash is anticipated to further support the growth of the business, particularly in the car loan market, which is a strategic focus for Moneyme.