MoneyMe secures strategic $125m funding facility with iPartners
Tech
Tech
Special Report: MoneyMe has secured a major new funding partnership with iPartners, positioning the non-bank lender for funding efficiencies and loan book expansion as it sets its sights on further growth.
Non-bank lender MoneyMe (ASX:MME) has just announced a strategic funding partnership with iPartners, one of Australia’s leading alternative asset investment platforms.
The partnership involves securing a new $125 million corporate funding facility, which will be used to replace MoneyMe’s existing facility, driving funding efficiencies through substantially better terms.
In addition, MoneyMe said the new, larger facility will allow the company to significantly grow its loan book and provide working capital to support its ongoing operations.
The initial drawdown on the facility will be $65 million, with an additional $60 million available on an uncommitted basis.
Settlement of the new facility with iPartners is expected to take place on Friday, December 20, subject to the satisfaction of customary conditions precedent.
Neu Capital acted as the structuring advisor on this transaction, while Gilbert + Tobin and Hamilton Locke provided legal advice for MoneyMe and iPartners.
Clayton Howes, CEO of MoneyMe, said the funding partnership with iPartners is significant for MoneyMe, and supports the company’s strategic objectives.
“This 2.5x larger facility, at a greatly reduced funding cost, and importantly without dilution to shareholders, will unlock significant incremental growth opportunities for the Group and support our continuing growth strategy in 2025 and beyond,” Howes said.
“We are pleased to have executed this part of our strategy ahead of time, and we are excited to begin the new year with this in place.
“We have been extremely impressed with the iPartners team and are looking forward to a long and successful partnership.”
Travis Miller, co-founder and CEO of iPartners, also shared Howes’ excitement about the partnership. “We have watched MoneyMe’s impressive growth across various securitisations, funding programs and product suite and wanted to get involved.
“We are excited now to have a seat at the table and to have done our part in helping achieve their next phase of growth.”
The new funding is a big part of MoneyMe’s growth objectives, especially as it looks ahead to a strong FY25.
With additional funding in place, the company is positioned to further expand its operations, accelerate loan book growth, and keep shaking up the traditional lending market.
The non-bank lender focuses on offering fast, flexible, and well-priced personal lending.
The company says its proprietary technology, enabling near-instant credit decisions and quick loan approvals, sets it apart from traditional banks.
This approach meets the growing demand from Australian consumers who want fast, tech-driven solutions.
As MoneyMe continues to grow, it’s also looking at new ways to expand its product range and capture more market share.
The $125 million funding is expected to support these efforts and help the company expand in 2025 and beyond.
This article was developed in collaboration with MoneyMe, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.