Projects } TBK Capital

New digital car finance business – investment opportunity

Many of you will know of Moola as TBK Capital raised significant funds for that business a few years ago. Their impressive track history has seen the group process over 400,000 loans, all digitally with no physical face-to-face contact.

Many of you will know of Moola as TBK Capital raised significant funds for that business a few years ago. Their impressive track history has seen the group process over 400,000 loans, all digitally with no physical face-to-face contact. 
 
They originally launched in 2013 in the highly competitive space of short-term lending with the market-leading brand Moola.co.nz. In 2017 their business model won the prestigious Deloitte Fast 50 awards in technology and named second fastest-growing company overall in New Zealand.
 
The group’s strategy to disrupt the traditional approach to non-bank finance (a sector worth NZ$5.4 billion annually) is achieved through targeted brand portfolios, cloud-based digital-first solutions, and the development of scalable bespoke technology platforms.
 
With a mission statement “To be the top-of-mind digital lender in every market we enter”, the group are pursuing the goal of establishing a billion-dollar enterprise - which once realised will firmly placing it as one of the leading digital lenders in the country.
 
Car finance
 
The next stage of expansion for the group, via their holding company NZFintech, is into digital car finance under the newly established brand ZOOMA. This is now set to fully launch following a successful NZ$50 million raise of a senior line of credit from a syndicate of Australasian and Silicon Valley investors.
 
A recent article on the business show how ZOOMA brings the car finance sector firmly into the 21st century by providing a one-stop-shop for vehicle finance - both direct to consumers and via car dealers and brokers. It offers six distinct tiers of products designed to cater for all consumers and aims to provide an unmatched lending experience for a digitally connected customer base.  
 
Investment opportunity
 
The group is now seeking to raise up to $20 million of additional growth capital – in the form of a convertible note issued by the group’s holding company NZ Fintech Group Holdings Limited.
 
The funds will be used to support the expansion of the group and will supplement their existing senior lines of credit.
 
The Offer
 
Preferential interest rate of 12 - 15% p.a. paid monthly in arrears - or the ability to have interest capitalised and compounded monthly.
 
The term of the investment is 3 - 5 years with the investor’s option to convert to ordinary shares in the holding at year 2 at a pre agreed valuation, or leave it as a fixed term loan at the initial interest rate. The security for the investors is a shared GSA over the group.
 
The Offer is open now. For a copy of the Business Overview, including forecasts and audited accounts, reply to this email or call me on 021 902 901.

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The above investment is not an offer of financial products that requires disclosure under the Financial Markets Conduct Act 2013 (Act) and is available only to wholesale investors as defined by that Act. It is intended for distribution only to selected people to whom, under the relevant laws, it can be lawfully distributed. It cannot be distributed in any other jurisdiction, or to any other people. It is not an offer or solicitations in any jurisdiction in which such offers or solicitations are not authorised, or in which the person making such offers or solicitations are not qualified to do so, or to any person to whom it is unlawful to make such offers or solicitations. Any representation to the contrary would be unlawful. No action has been taken by any person that would permit a public offering in any jurisdiction where action for that purpose would be required.

Cheers



John Paine B.Sc., Dip BIA
TBK Capital Limited
Level 10,120 Albert Street
Auckland 1010, New Zealand
Phone +64 9 307 3257
Mobile +64 21 902 901
Email john.paine@tbkcapital.co.nz
 

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