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Money3 completes acquisition of New Zealand car lender

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Money3 completes acquisition of New Zealand car lender

Money3 Corp. Ltd. completed the acquisition of New Zealand-based automotive lender Go Car Finance.

Money3 said March 13 that the acquisition was settled with an upfront payment of NZ$14 million in cash and NZ$2 million in script to the Go Car Finance founders.

Following the acquisition, Money3's automotive loan book grows to over A$345 million.

As of March 12, US$1 was equivalent to NZ$1.46.