DirectMoney

DirectMoney
Founded Australia (2006)
Founder David Doust
Headquarters Sydney, Australia
Area served
 Australia
Key people
 Anthony Nantes, David Doust, John Nantes
Products Financial Services
Number of employees
 18
Website https://www.DirectMoney.com.au/

DirectMoney is an Australian Marketplace Lender offering peer to peer lending services. It is known for being the first company of its type to publicly list in Australia.[1]

History

Founded in 2006, the company did not begin operating until October 2014, and had originated $6m in personal loans by March 2015.[2] Seed funding of $500,000 was provided by Eaglewood Capital Management and Liberum in May 2014.[3]

Initial funding of loans came through wholesale investment raising, with retail investors being allowed to invest in the platform in late May 2015 from a minimum amount of $50,000.[4][5]

Listing

On July 13, 2015 DirectMoney listed on the Australian Securities Exchange through a reverse takeover of Basper Ltd, raising $AU11.2m at 20c per share.[6]

See also

References

  1. ↑ "http://www.asx.com.au/asxpdf/20150713/pdf/42zs1pbn2xlt2q.pdf" (PDF). Australian Stock Exchange. Retrieved 14 July 2015. External link in |title= (help)
  2. ↑ "Peer-to-peer lender DirectMoney set to list on ASX". The Australian. Retrieved 10 July 2015.
  3. ↑ "Banking disrupter Stephen Porges to lead P2P lender DirectMoney". Sydney Morning Herald. Retrieved 10 July 2015.
  4. ↑ "Peer-to-peer lender DirectMoney set to list on ASX". The Australian. Retrieved 10 July 2015.
  5. ↑ "DirectMoney Launches Retail Fund". Alt Fi. Retrieved 10 July 2015.
  6. ↑ "DirectMoney float price falls after initial spike". The Age. Retrieved 14 July 2015.
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