How do you value these fintech direct to consumer lending businesses?
Well Latitude Group recently announced they paid AU$200M for Symple. A direct to consumer lender in Aus.
Symple has a $53m loan book which it grew over 25 months.
Lets check against HMY Aussie loan book... currently 3x Symple at $155m. It has increased $54m in 9 months.
Total book inc NZ is $517m
How do you value these fintech direct to consumer lending businesses?
Well Latitude Group recently announced they paid AU$200M for Symple. A direct to consumer lender in Aus.
Symple has a $53m loan book which it grew over 25 months.
Lets check against HMY Aussie loan book... currently 3x Symple at $155m. It has increased $54m in 9 months.
Total book inc NZ is $517m
HMY market cap currently au$192m... hmmmmm
HMY cheap as!
You’ve said HMY is a billion dollar company ….on those metrics its a 2 billion dollar company ….hmmmmm
”When investors are euphoric, they are incapable of recognising euphoria itself “
HARMONEY PRICES $105M INAUGURAL ABS TRANSACTION Key highlights:
• Validation of Australian loan book o Top tranche of AAA rating (Moody’s) achieved with 34% credit enhancement
• Material reduction in cost of funds o Day 1 weighted average interest rate of 1.45% + 1 month BBSW
• Significant release of capital o 50% reduction in Harmoney’s capital required compared to existing warehouse
• Harmoney has also been awarded 4th place in the AFR BOSS “Most Innovative Companies 2021” for its Libra™ automated real-time credit scoring platform
HARMONEY PRICES $105M INAUGURAL ABS TRANSACTION Key highlights:
• Validation of Australian loan book o Top tranche of AAA rating (Moody’s) achieved with 34% credit enhancement
• Material reduction in cost of funds o Day 1 weighted average interest rate of 1.45% + 1 month BBSW
• Significant release of capital o 50% reduction in Harmoney’s capital required compared to existing warehouse
• Harmoney has also been awarded 4th place in the AFR BOSS “Most Innovative Companies 2021” for its Libra™ automated real-time credit scoring platform
Good news indeed: Funding costs going down
Bad debts going down
Lending volumes going up
share price going down lol wot
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