Fintech Butn Starts 2023 Financial Year with a Bang

  • Fund Management
  • 15.08.2022 09:25 am

ASX-listed fintech Butn has delivered a record origination month in July 2022 of $31.5 million, up 58% on pcp, to provide a strong start to the 2023 financial year. This follows consecutive record origination months in April, May and June 2022, as momentum in the business accelerates.

Importantly, July 2022’s revenue margin was 2.3%, up from 2.0% in FY22, reflecting an improvement in industry mix to higher margin segments and increased contribution of higher margin platform originations.

Butn’s July 2022 platform originations contributed approximately 20% of the total monthly originations, approximately $6 million for the month.

The continued growth has seen the receivables book exceed $60 million, up 80% on the pcp.

Commenting on the great start to the 2023 financial year, Butn’s Co-founder and Co-CEO, Rael Ross said, “The strong start to FY23 shows SMEs have a real need for Butn’s affordable and accessible finance solution. The current macro environment presents challenges for SMEs who are increasingly looking for more flexible ways to manage their cash flow and growth. We expect the need and attractiveness of our integrated, platform driven on-boarding, credit and risk assessment, funding and collections to continue to increase and be more relevant to our partners and their business customers.”

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