Digital lender and Certified B Corp MoneyMe has surpassed $4 billion in total loan originations, marking a significant achievement since its inception.
This milestone reflects steady growth fueled by innovative lending solutions and a strategic focus on secured car loans.
The company reported a 27% increase in originations during Q1 FY25, reaching $221 million – up from $171m in the previous quarter. Much of this growth stems from its car finance product, Autopay, which has become a cornerstone of MONEYME’s expansion strategy.
MoneyMe’s total originations include approximately $1bn in loans from SocietyOne, acquired in 2022, and more than $3bn generated through its proprietary Horizon platform.
The company’s strategic shift toward secured assets continues to bear fruit, with secured loans now making up 58% of the total loan book.
Average credit quality has also improved, with Equifax credit scores rising to 774, up from 763 last quarter. Revenue remained stable at more than $50m, reflecting the company’s pivot toward higher-quality secured assets with lower yields.
Earlier this month, MoneyMe completed a $517.5m auto loan asset-backed securities (ABS) deal. This transaction increased liquidity in its Autopay warehouse, enabling the company to scale its car finance product further.
CEO Clayton Howes (pictured above) expressed confidence in the company’s momentum.
“Surpassing $4bn in originations is a testament to the strength of our product offering, our vision, and our ability to execute effectively through any macro environment,” Howes said.
“The surge in Autopay originations shows that our efforts to create a better end-to-end car finance experience through innovation and AI are resonating with customers and partners.”
Looking forward, MoneyMe, which recently reported $165 million in loan originations, a 25% quarterly and 30% annual increase for the period ending June 30, remains committed to building a resilient business model centered on secured assets.
With a strong presence in car loans, personal loans, and credit cards, the company plans to continue scaling its operations and leveraging innovative financial solutions.
“This is an exciting time for MoneyMe,” Howes said. “We are well-positioned to build momentum in our core markets and deliver exceptional value to our customers and investors.”
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