Australians have witnessed the birth of a service that allows them to access their payday ahead of time via an advancement, bypassing banks with a service striving to operate similar to payday lenders but with fewer fees and shorter repayment timeframes. With several ‘pay advance’ companies popping up recently, it was only a matter of
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Neo-lender Plenti Group Limited is preparing to list on the Australian Stock Exchange with a proposed listing date of September 23. The Company is looking to raise $55 million at an offer price of $1.66 per share, effectively giving Plenti an indicative market capitalisation of $280 million. There is no shareholder sell-off as part of
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With scandals having rocked the banking sector over the past 12 months, Australia’s first neo-lender Wisr (ASX: WZR) has seen major growth in its loan growth, reporting an increase of $31.6 million in loan origination, an increase of 36% compared to the previous quarter and bringing total loan origination to $163.8m. The milestone continues a
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The rise of buy-now-pay-later platforms have made it easier than ever for consumers to spend money they don’t have. But shrewd investor Hugh Honey is so confident there will be a credit collapse, he has racked up thousands of dollars in Afterpay (ASX: APT) debt expecting it all to be wiped if the company collapses.
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Let’s face it – Australia is a debt junkie. Australia has zero chance of growing the economy (ie increasing GDP) without borrowing every dollar of the increase to do it. In fact, since March 2000, it has taken an average of $2 increase in borrowing for every $1 increase in Gross Domestic Product (GDP). The
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