MONEY FOR FINANCE Financial Statement 2021
Our Jordan loan originator has completed its first audit and in this email, we send you the main information about it. Audited financial statements are available for logged in investors here – https://esketit.com/originator/moneyjo
Money for Finance is a pioneer in the Jordanian non-bank consumer lending industry. Since its launch in December 2020, Money for Finance has become the first and leading consumer loan provider in Jordan – up until today, the company has served over 65,000 clients.
Money for Finance’s first annual financial statement for 2021 has been published – revenues in the first acting period have reached 3 million JOD (3.7 million EUR), EBITDA 529,000 JOD (659,000 EUR) and NET result after tax provisions was -186,000 JOD (-232,000 EUR).
The financial statement is prepared according to International Financial Reporting Standards (IFRS) by independent international audit company Baker Tilly.
Money for Finance’s recent milestones:
- Started offering a digital loan disbursement channel mobile wallet. Any customer can receive a loan via the new and secure means of instant electronic payment through the mobile wallet.
- Money for Finance customers can receive a loan to any of the 8 mobile wallet service providers in Jordan
- “Digital Branch” concept was launched, where loans are disbursed only via mobile wallets
- Established partnership with Jordan Post – opening 25 Money for Finance digital branches in post offices to access populated areas from the North to the South of Jordan
- Expanded the range of services offered to the public by rolling out a new product – installment loans of up to 2,000 JOD (2,670 EUR) and a loan term of up to 12 months