MONEYME Limited has announced the doubling of its MME Autopay 2021 warehouse funding facility from3 75 million to 750 million, aimed at enhancing the funding of its car loan product, Autopay, which is expected to increase loan originations, improve capital efficiency, and boost profitability.
This expansion is a strategic move to optimize MONEYME's funding program, focusing on the car loan market as a key growth area, and is anticipated to support business growth through greater economies of scale and the release of over $10 million of unrestricted cash into the business.
This announcement is an AI generated summary of the company approved ASX announcement on 18/3/2024