Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

Slovar Limited Capital/Financing Update 2021

Dec 7, 2021

17773_rns_2021-12-07_070207c1-d296-4cd2-8e9b-a0cdc5515c5a.pdf

Capital/Financing Update

Open in viewer

Opens in your device viewer

money3

ASX RELEASE

8th DECEMBER 2021

SECURES ADDITIONAL FUNDING, DEMONSTRATING ABILITY TO FUND FUTURE GROWTH

Key Highlights for the Group:

  • Record lending in November, exceeding our projected run rate to support $1bn Gross Loan Book,
  • Forecast FY22 Gross Loan Book of $800m; ~$680m as of November 2021, and
  • Substantial Group funding headroom with further capacity for expansion as required.

Money3 Corporation Ltd (ASX: MNY, “Money3” or “the Group”) is pleased to announce that MA Financial Group (formerly Moelis Australia) through its credit & lending strategy will provide mezzanine warehouse funding to Automotive Financial Services Pty Ltd (“AFS”), a wholly owned subsidiary of Money3.

The funding, which is in addition to our existing funding through major domestic and international banks is consistent with the Group’s strategy to continually review and optimise the funding structure for each business unit within the Group.

MA Financial Group is an ASX-listed financial services firm specialising in asset management, lending, corporate advisory, and equities. The firm has significant expertise in private market credit, non-bank lending and specialty finance, managing $1.3 billion in credit investment strategies (as at 30 June 2021).

Money3’s Managing Director and CEO, Mr. Scott Baldwin, said:

“Post the easing of lockdowns in Australia and New Zealand and in the lead up to the Christmas, the Group continues to experience strong lending momentum having lent a record $50m in November 2021. The Group’s Gross Loan Book has increased to ~$680m at the end of November 2021. We are well placed to finish the first half of FY22 on a strong note.

“We are pleased to partner with MA Financial, adding to our list of major Australian and international funding partners. We have demonstrated discipline through a measured strategy of acquiring businesses and aligning them to the Group’s high standard of lending practices before leveraging them to drive growth responsibly.

“We have a strongly defined funding strategy which we look forward to expanding with our funding partners to build further capacity and support the growth of our loan book to $1bn and beyond.

Authorised for release by the Board of Money3 Corporation Limited.

-ENDS-

Money3 Corporation Limited

ABN 63 117 296 143 | Australian Credit Licence 389 782

40 Graduate Road, Bundoora VIC 3083

+61 3-9093 8255 | [email protected]

Money3.com.au | Investors.Money3.com.au

money3

www.money3.com.au

THE AUTOMOTIVE ASSOCIATION OF MONEYS

www.afs.com.au

GoCar Finance

www.gocar.co.nz


money3

ASX RELEASE

8th DECEMBER 2021

SECURES ADDITIONAL FUNDING, DEMONSTRATING ABILITY TO FUND FUTURE GROWTH

For further information please contact:

Managing Director
Mr Scott Baldwin
+61 3 9093 8255
[email protected]

Chief Financial Officer
Siva Subramani
+61 3 9093 8246
[email protected]

Investor Relations
Simon Hinsley
+61 401 809 653
[email protected]

ABOUT MONEY3 CORPORATION LIMITED (ASX: MNY)

Money3 is a market leading Consumer and Commercial finance company with over 20 years' experience in Australia and New Zealand, having funded over $2.0 billion of vehicles and personal loans. Dominating the used-vehicle finance market, in 2021 the group expanded its product offering into new and commercial vehicle lending, a total market opportunity exceeding $40 billion across both countries. Delivering a unique customer experience from loan application to the final loan payment the group leverages technology to provide a seamless process from a broker, online or directly from MNY.

Money3 Corporation Limited
ABN 63 117 296 143 | Australian Credit Licence 389 782
40 Graduate Road, Bundoora VIC 3083
+61 3 9093 8255 | [email protected]
Money3.com.au | Investors.Money3.com.au
money3
www.money3.com.au
ASSOCIATE AUTHORITY OF AUSTRIA
www.afs.com.au
GoCur Finance
The Art of GoCur
www.gocar.co.nz