IPO - MoneyMe Limited, page-60

Some commentary on Moneyme in the Perennial monthly fund snapshot
https://perennial.net.au/wp-content/plugins/commentaries/PVSCOT/19/12/1219_PVSCT.pdf


We participated in two IPO’s during the month, Limeade and MoneyMe. Inboth cases we built conviction in the investment case after multiple meetings with management and extensive modelling. The common theme from both IPO’s is that management remain large shareholders and thus have a strong incentive to deliver on the high growth potential that both businesses have before them.Limeade (flat on IPO price) is an employee engagement software provider that was established in 2006 and currently has 2.4m users. Thecapital from the IPO will be used to fuel growth outside of North America where the bulk of revenues are currently concentrated. MoneyMe (+20.8% from IPO) was established in 2013 and is a fast growing online platform for personal finance which is highly scalable. The capital raised will be used to acquire more customers and support new funding packages