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Fortress backs Aussie fintech
Fortress Investment Group has announced a $100 million investment in an Australian fintech company.
Tom Lodewyke
Firm: Ashurst (Fortress Investment Group)
Value: $100 million
Area: Finance
Key players: The Ashurst team advising Fortress Investment Group was led by partner Jennifer Schlosser (pictured) and included fintech securitisation specialists, senior associate Eugene Ng and lawyer Alexandra Rennie.
Deal significance: Global credit investor Fortress Investment Group has agreed to provide up to $100 million in debt capital to fund the first MoneyMe warehouse securitisation trust.
MoneyMe is an Australian fintech company established in 2013, specialising in personal loans of up to $15,000.
The $100 million contributed by Fortress is part of a $120 million asset-backed securitisation deal, which also includes a $20 million bond issued by Evans & Partners, according to Fairfax.
Ashurst said in a statement that MoneyMe will use the warehouse securitisation to fund its growing originations. Fortress’ investment as senior financier demonstrates the growing investment in fintech from prominent financiers, according to Ashurst.
Pictured top: Ashurst partner Jennifer Schlosser
