Ann: DM1 Investor Presentation - November 2015, page-4

In spite of the strong demand for their product, Direct Money need to maintain enough cash in the kitty to be able to sustain all this growth. There's only about one more quarter of this growth left, unless they can:

(i) hurry up and raise money through their Personal Loan Fund;
(ii) get meaningful cash by on-selling some of their existing loans to third parties as foreshadowed;
(iii) source borrowings from other financial institutions (at a hefty interest rate most likely); or
(iv) issue convertible notes or the like.

I don't think they'll succeed with a share issue given the 50% fall since listing - that will only be on the cards once the share price genuinely starts rising. But I think they'll get these funds one way or the other due to a very strong growth in their top line. The market is there, and they appear to have cleared that major hurdle.