MONEYME secures USD 78 million funding facility with iPartners

Following this announcement, the new facility will refinance MONEYME’s existing corporate debt, which is originally maturing in November 2025 with no early payment costs. It will also enable significant loan book growth, as well as provide general working capital for the company. 

Settlement of the new facility with iPartners is expected to occur on the 20th of December 2024, currently being subject to the satisfaction of customary conditions precedent. In addition, the company will continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry. 

More information on MONEYME’s funding partnership with iPartners

According to the officials of the company, the current facility is 2.5x larger, at a greatly reduced funding cost, and importantly without dilution to shareholders. At the same time, it is expected to unlock significant incremental growth opportunities for the group, as well as support the company’s continuing growth strategy in 2025. The USD 78 million funding will accelerate the development of the firm, while also replacing its existing facility on substantially better commercial terms.

The structuring advisor on this transaction was Neu Capital, with Gilbert + Tobin and Hamilton Locke acting as legal advisors for MONEYME and iPartners. The companies will also prioritise the process of accelerating the development process of the overall financial landscape while optimising the overall customer experience as well.