Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Fortress Investment Group LLC    FIG

FORTRESS INVESTMENT GROUP LLC (FIG)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesNewsCompany 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Fortress Investment LLC : Fintech MoneyMe secures $120 million capital facility led by Fortress Investment Group

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/07/2017 | 06:19pm CEST

By a News Reporter-Staff News Editor at Investment Weekly News -- Australian consumer lending fintech, MoneyMe, has finalised an AU$120 million asset-backed wholesale securitization facility led by $100 million from global investment manager, Fortress Investment Group, and joined with $20 million of bonds issued by corporate advisory, Evans & Partners.

The funding places the fintech in an ideal position to continue capturing an even greater share of the digitally-savvy millennial consumer market over the next 3 to 5 years through an expanded product range, and additional delivery channels.

"A capital investment of this magnitude is recognition of the strength and depth of our value proposition, and an indication of the strong potential for Australian fintechs to capture serious wholesale market funding," said Clayton Howes, CEO and Co-Founder of MoneyMe.

"A securitization warehouse structure and our institutional-grade treasury function akin to the major banks -- combined with advanced automation and personalization capabilities, data-driven product integrity, cutting-edge technology for scalability, and a relatable brand personality -- is a sure-fire way for Australian fintechs to attract the interest of global investors.

"This type of validation by a global investment management company, Fortress Investment Group, affirms a funding path that will now allow us to capitalise on growth and market share opportunities where bank branch models are not a natural fit in this digital age.

"As we further increase our independence and position as a mainstay in the improved distribution of consumer finance, we see this validation as a win for Australian fintech as a whole," continued Clayton Howes.

Evans & Partners, the corporate advisory firm that led the bond issuance, has raised over $1.5 billion since 2008. The bond issued in this transaction is a publicly-tradable security, which investors are attracted to for the stability, yield, and track record of performance in this emerging sector.

The substantial capital injection will be used to fund continued loan book growth and facilitate both the expansion of MoneyMe's distribution channels, and the launch of a series of niche loan products targeting the lucrative millennial market.

"As the millennial generation ages and gains even greater consumer power with their increasing incomes, their credit needs will also change and mature with them," continued Clayton Howes.

"Our aim is to be there throughout their credit lifecycle journey, seamlessly delivering real-time finance solutions in the locations and format that allow focus to remain on the consumption experience and not the transaction itself," concluded Clayton Howes.

For more information on MoneyMe: www.moneyme.com.au

For more information on Fortress Investment Group LLC (NYSE: FIG): www.fortress.com

For more information on Evans & Partners: www.evansandpartners.com.au

Keywords for this news article include: MoneyMe, Investment and Finance.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2017, NewsRx LLC

(c) 2017 NewsRx LLC, source Business Newsletters

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FORTRESS INVESTMENT GROUP
2017FORTRESS INVESTMENT LLC : Japans SoftBank completes $3.3 billion acquisition of ..
AQ
2017DRIVE SHACK INC : . Announces Agreement to Internalize Management
AQ
2017FORTRESS INVESTMENT GROUP LLC (NYSE : FIG) Files An 8-K Termination of a Materia..
AQ
2017FORTRESS INVESTMENT GROUP LLC : Termination of a Material Definitive Agreement, ..
AQ
2017FORTRESS INVESTMENT LLC : SoftBank Group Completes Acquisition of Fortress Inves..
AQ
2017FORTRESS INVESTMENT LLC : SoftBank Group Completes Acquisition of Fortress Inves..
BU
2017ONEMAIN : Announces Secondary Offering of Common Stock by an Affiliate of Fortre..
AQ
2017FORTRESS INVESTMENT GROUP LLC (NYSE : FIG) Files An 8-K Regulation FD Disclosure
AQ
2017FORTRESS INVESTMENT GROUP LLC : Regulation FD Disclosure (form 8-K)
AQ
2017FORTRESS INVESTMENT LLC : Fintech MoneyMe secures $120 million capital facility ..
AQ
More news
News from SeekingAlpha
01/04OneMain Financial soars 25% after Apollo buys in 
01/03REUTERS : Apollo nears deal for Fortress' stake in OneMain 
01/02DRIVE SHACK : A Whiff For Investors? 
2017SoftBank completes Fortress Investment Group acquisition, FIG ceases trading 
2017Fortress cashing out of more of OneMain Financial 
Managers
NameTitle
Randal Alan Nardone Chief Executive Officer & Non-Independent Director
Wesley Robert Edens Co-Chairman
Pete L. Briger Co-Chairman
Daniel Neal Bass Chief Financial Officer
George W. Wellde Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
FORTRESS INVESTMENT GROUP LLC61.52%0
BLACKROCK-1.29%81 220
BANK OF NEW YORK MELLON (THE)-1.54%53 596
STATE STREET CORPORATION-5.30%33 778
NORTHERN TRUST CORPORATION4.24%23 408
AMERIPRISE FINANCIAL-16.20%20 536