Gomo Concludes Funding And Operational Agreements
Gomo Concludes Funding And Operational Agreements. Transaction Capital has announced that Gomo has managed to secure funding through its funding partner. Gomo is a joint collaboration between WeBuyCars and Mobalyz and originates debt agreements for consumers to acquire pre-owned vehicles. Gomo currently has concluded more than 2 500 vehicle backed loans and has a loan book of R515 million which is currently funded on balance sheet.
Transaction Capital is pleased to advise that agreements have been concluded with a leading South African bank in terms of which Gomo becomes an originator of loans for the bank on agreed criteria, earning a portion of net interest margin and other fees, and with the assets ultimately being funded on the bank’s balance sheet. The Gomo product will be available across the entire national dealership network of WeBuyCars, and not just in Gauteng as at present. A substantial increase in the scale of the Gomo business is anticipated over the next few years as Gomo is now positioned to maximise this growth opportunity.
Transaction Capital is an active investor in and operator of credit-orientated alternative assets managed by experienced entrepreneurial management teams employing a rigorous value-led investment approach to generate risk-adjusted interest returns & capital appreciation whilst delivering social value.
Transaction Capital invests in and operates high-potential businesses in markets with historically low levels of client service and trust. This gives it untapped opportunities for disruption, innovation, and high returns. The company’s businesses apply their experience, specialised expertise, technology, and data advantages to provide competitive and innovative solutions in order to deliver outstanding commercial benefits to clients and to drive the positive and progressive transformation of their industries.
