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Australian fintech company secures A$120M in financing

MoneyMe, an Australian consumer lending fintech company, finalized an AU$120 million asset-backed wholesale securitization facility.

The facility was led by A$100 million from Fortress Investment Group LLC and joined with A$20 million of bonds issued by Evans & Partners.

The company will use the money to fund continued loan book growth and facilitate both the expansion of its distribution channels and the launch of a series of niche loan products targeting the millennials market.