http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Mon, 26 Feb 2018 08:52:39 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - DirectMoney a leading ASX gainer after revealing Alceon investment ]]> http://www.proactiveinvestors.com.au/companies/news/191543/directmoney-a-leading-asx-gainer-after-revealing-alceon-investment-191543.html DirectMoney Ltd (ASX:DM1) is an ASX leading gainer intra-day on news of a strategic investment by alternative investment manager Alceon.

The investment comprises an initial placement of $600,000 at $0.042 per share and is equivalent to a 3.1% interest.

Also granted call options

Alceon, which has more than $1 billion of assets under management, will also be granted an equal number of call options at $0.08 per share enabling it to increase its investment by circa $1.14 million.

Shares were up 44% to $0.039 early afternoon on volume of more than 4 million.

DirectMoney will use the funds for innovation initiatives to grow its personal loan business.

Name change is proposed

The company also intends to change its name to Wisr Limited and will seek shareholder approval at an upcoming extraordinary general meeting.

DirectMoney is Australia’s only ASX-listed P2P/marketplace lender and a fintech pioneer in the growing Australian marketplace lending industry.

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Tue, 13 Feb 2018 14:15:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191543/directmoney-a-leading-asx-gainer-after-revealing-alceon-investment-191543.html
<![CDATA[News - Directmoney leading Friday's ASX % Gainers intra-day ]]> http://www.proactiveinvestors.com.au/companies/news/174173/directmoney-leading-friday-s-asx-gainers-intra-day-174173.html  

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Fri, 03 Mar 2017 11:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/174173/directmoney-leading-friday-s-asx-gainers-intra-day-174173.html
<![CDATA[News - DirectMoney Ltd tops ASX % Gainers intra-day ]]> http://www.proactiveinvestors.com.au/companies/news/165680/directmoney-ltd-tops-asx-gainers-intra-day-70848.html Monday's leading ASX % Gainers intra-day.

Company NameCodeLastChangeVolume DirectMoney Ltd DM1 $0.030 123.08% 1,911,689 Drake Resources Ltd DRK $0.002 100% 2,500,000 Norwest Energy NL NWE $0.003 50% 1,008,437 Victory Mines Ltd VIC $0.003 50% 1,700,000 Caeneus Minerals Ltd CAD $0.004 33.33% 7,451,998 BMG Resources Ltd BMG $0.015 25% 708,500 TW Holdings Ltd TWH $0.010 25% 800,549 Zamia Metals Ltd ZGM $0.005 25% 94,150 Redchip International Ltd R3D $0.150 25% 10,000 NuCoal Resources Ltd NCR $0.005 25% 404,119

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 05 Sep 2016 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165680/directmoney-ltd-tops-asx-gainers-intra-day-70848.html
<![CDATA[News - DirectMoney Ltd pending update on capital raising ]]> http://www.proactiveinvestors.com.au/companies/news/135242/directmoney-ltd-pending-update-on-capital-raising-69517.html DirectMoney Limited (ASX:DM1) has been granted a trading halt by the ASX, pending the release of a proposed capital raising.

The halt will remain in place until the opening of trade on Friday 1st July 2016, or earlier if an announcement is made to the market.

DirectMoney operates in the Australian marketplace lending industry and aims to connect borrowers and investors.

The company has recently been reaching agreements with institutions regarding loan sale facilities.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 29 Jun 2016 15:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/135242/directmoney-ltd-pending-update-on-capital-raising-69517.html
<![CDATA[News - DirectMoney Ltd posts record lending quarter as fin-tech spreads wings ]]> http://www.proactiveinvestors.com.au/companies/news/135241/directmoney-ltd-posts-record-lending-quarter-as-fin-tech-spreads-wings-68387.html Australian fin-tech DirectMoney (ASX:DM1), has posted a record 48% growth in new loans during the quarter ended 31 March 2016, relative to the previous quarter.

The only ASX listed fin-tech lender brings together borrowers and lenders through a web-based platform to offer unsecured loans.

During the quarter ended 31 March 2016, $4.71 million of loans to 219 borrowers were issued, including $1.92 million in March 2016, which was a record month.

DirectMoney has written $15.65 million of loans to 810 borrowers with an average interest rate of 12.7% since lending began in October 2014.

The company raises additional funds for lending by selling loans to third parties. A total of $5 million of loans were sold to Macquarie Bank at face value in February, from which DirectMoney earns a monthly loan servicing fee.

Impressively, there have been no recorded losses on any of the 431 loans written in FY 2016 with only 4 loans having late payments exceeding 30 days.

The company, which follows a strict credit criteria, signed an agreement in March with the credit reporting bureau, Dun & Bradstreet, bringing Directmoney into the Australian Comprehensive Credit Reporting (CCR) community.

DirectMoney’s loan origination growth continues to be driven by partnerships with broker aggregators and direct online channel marketing.

The company said it has over 450 accredited brokers and agreements in place with major finance and mortgage broker aggregators representing 5,000 individual brokers.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Mon, 02 May 2016 16:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/135241/directmoney-ltd-posts-record-lending-quarter-as-fin-tech-spreads-wings-68387.html
<![CDATA[News - Directmoney Ltd sign up with Comprehensive Credit Reporting community ]]> http://www.proactiveinvestors.com.au/companies/news/135240/directmoney-ltd-sign-up-with-comprehensive-credit-reporting-community-67580.html Marketplace lending company Directmoney Limited (ASX:DM1) has signed an agreement with credit reporting bureau, Dun & Bradstreet, bringing Directmoney into the Australian Comprehensive Credit Reporting (CCR) community.

As part of this agreement, Directmoney will get access to credit history of potential borrowers which will help in maintaining credit quality of Directmoney’s loan portfolio.

The agreement, builds upon an existing relationship with credit reporting agency, Veda, and allows CCR to be integrated into Directmoney’s loan approval process.

CCR provides lenders with additional important information regarding a new loan applicant’s prior performance on previous loan obligations. This includes access to data relating to the timeliness of loan payments and overdue accounts, allowing better determination of the creditworthiness of a loan applicant.

As part of this agreement, Directmoney will also share information regarding its borrower’s performance with the other lenders who are CCR participants.

David Russell, Chief Information Officer of Directmoney believes that CCR will be fully integrated within their day to day loan assessment and approval processes.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 17 Mar 2016 15:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/135240/directmoney-ltd-sign-up-with-comprehensive-credit-reporting-community-67580.html
<![CDATA[News - DirectMoney signs strategic partnerships with Loan Market, Finsure ]]> http://www.proactiveinvestors.com.au/companies/news/135239/directmoney-signs-strategic-partnerships-with-loan-market-finsure-64157.html Newly listed DirectMoney (ASX:DM1) has expanded its mortgage and real estate related personal loan channel through strategic partnerships with mortgage providers, Loan Market and Finsure.
   
This allows the company, which is chaired by former SAI Global and Aussie Home Loans chief Stephen Porges, to grow its customer base and consolidate a position as partner of choice for unsecured personal loans in these sectors.

Loan Market has secured over $47 billion in home loans since it was founded in 1995 while aggregation business Finsure has established a loan book of over $10 billion.

DirectMoney raised $11.2 million through its initial public offering priced at $0.20.

The company connects borrowers and savers directly with its warehouse model enabling loans to fund immediately rather than the 3-10 days for “classic P2P” lenders.

Its product uses scalable technology with marginal cost for adding capacity.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 24 Aug 2015 16:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/135239/directmoney-signs-strategic-partnerships-with-loan-market-finsure-64157.html
<![CDATA[News - DirectMoney lists on ASX, offers direct loans to borrowers ]]> http://www.proactiveinvestors.com.au/companies/news/135238/directmoney-lists-on-asx-offers-direct-loans-to-borrowers-63403.html DirectMoney Limited (ASX:DM1), chaired by former SAI Global and Aussie Home Loans chief Stephen Porges, has become the first marketplace lending company to commence trading on the Australian Securities Exchange.

This follows its raising $11.2 million through its initial public offering priced at $0.20.

The company connects borrowers and savers directly with its warehouse model enabling loans to fund immediately rather than the 3-10 days for “classic P2P” lenders.

It is currently targeting sector-leading organisations to participate in loan origination partnerships and as investors in its loan funding vehicles.

DirectMoney’s product uses scalable technology with marginal cost for adding capacity.

There are few domestic competitors in this market with savers and personal loan customers underserviced by traditional providers as banks move out of the personal funding market.

Margins are high with Australian unsecured consumer lending representing 3% of bank assets and 16% of profits.

Significant barriers to entry also exist due to heavy regulation and licensing requirements.

DirectMoney listed on the ASX through a reverse takeover of Basper Limited.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 13 Jul 2015 13:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/135238/directmoney-lists-on-asx-offers-direct-loans-to-borrowers-63403.html