# PLT - Plenti Group



## System (31 August 2020)

Plenti is a technology-led consumer lending and investment business which seeks to provide borrowers with efficient, simple and competitive loans, delivered via simple digital experiences. Additionally, Plenti seeks to provide investors with attractive, stable returns via investing in the established asset class of consumer loans.

Plenti has funded approximately $870 million in loans to over 55,000 borrowers since its launch in 2014, providing loan products to creditworthy borrowers in the automotive, renewable energy and personal lending verticals.

Plenti has focused on diversifying its funding sources over time, and now funds the loans it originates from a range of funding platforms. Plenti has attracted approximately 22,000 Registered Investors since its launch in November 2014, including retail, institutional and government investors. It has also established its own Warehouse Facility to fund secured automotive loans.

It is anticipated that PLT will list on the ASX during September 2020.

https://www.plenti.com.au


----------



## Value Collector (31 August 2020)

Plenti is the new name for “Rate setter”.

It’s the peer to peer lending platform I have mentioned several times.

I have been investing on the platform for over 3 years now, and have been very happy.


----------



## Value Collector (8 September 2020)

I took some shares in the IPO at $1.66

It’s not the normal type of value position I take, and to honest I can’t really value it as I can other companies, however I like the product from a consumer stand point, and decided to put in $35k and see how we go over the next couple of years.


----------



## barney (8 September 2020)

Can't seem to find any info on PLT @Value Collector Where was the IPO etc advertised? Cheers.


----------



## peter2 (8 September 2020)

Right here at ASF's home page

.
	

		
			
		

		
	







It would seem that VC was allowed to buy shares in their IPO (before they're listed). Either as a valued broker client or as a lender on the Plenti platform.


----------



## barney (9 September 2020)

Thanks @peter2


----------



## qldfrog (9 September 2020)

barney said:


> Thanks @peter2



Yes as an investor in ratesetter, you can buy shares during ipo


----------



## qldfrog (9 September 2020)

qldfrog said:


> Yes as an investor in ratesetter, you can buy shares during ipo



I have no clue as to the real value of these and as the timing is not convenient cash wise, not sure if i should get in, plus late September for ipo with huge US  clouds in coming months..
I might just put a few k at most


----------



## Value Collector (9 September 2020)

qldfrog said:


> I have no clue as to the real value of these and as the timing is not convenient cash wise, not sure if i should get in, plus late September for ipo with huge US  clouds in coming months..
> I might just put a few k at most




There are three reasons I have bought in.

1, As I said I like the product.

2, I have been watching how fast it has been growing over the last few years, through the presentations and meet ups the company has done, and I like management.

3, I have seen how well other financial tech/ disrupters such as after pay have done, so I think it’s worth a punt.


----------



## Value Collector (9 September 2020)

peter2 said:


> Right here at ASF's home page
> 
> .
> 
> ...




Yes, I am a lender on the platform, and they have offered shares to us in the IPO.


----------



## Dona Ferentes (9 September 2020)

_a bit of background, the usual jocular stuff, from about 3 weeks ago_

*Ratesetter's fresh lick of paint scores Plenti-ful $275m deal*
*Sarah Thompson, Anthony Macdonald* and *Tim Boyd*
Aug 16, 2020


> It's risk on as far as small cap floats are concerned – just ask non-bank lender Plenti. While most of the market was focused on profit results last week, Plenti was quietly locking in cornerstone backers for a $50 million initial public offering valuing it at about $275 million.It is understood the cornerstone backers mopped up about half of the IPO and included institutional investors like Wilson Asset Management, Regal Funds Management and Washington Soul Patts. The rest of the IPO will be marketed by lead managers Bell Potter and Wilsons and sold at a bookbuild slated for later this week.





> Never heard of Plenti? Neither had the cornerstones until last week. It's the new name for what was RateSetter, the fintech that has lent more than $800 million to Australians via secured and unsecured personal, car, green and legal loans in the past five years or so.
> Advised by Highbury Partnership, Daniel Foggo told cornerstone backers that Plenti's business had proven resilient through COVID-19, with its revenue growth up more than 60 per cent a year since 2018 (on a compound annual growth rate basis). And the investors bought his pitch that the technology powering its lending platform and the nature of its loan book meant that growth is set to continue. Co-founders Foggo and Glenn Riddell will retain about a 27.5 per cent stake on listing. The company is chaired by ex-Resimac Group joint CEO and former Macquarie banker Mary Ploughman.



https://www.afr.com/street-talk/rat...t-scores-plenti-ful-275m-deal-20200816-p55m5q


----------



## Dona Ferentes (23 September 2020)

Dona Ferentes said:


> _a bit of background, the usual jocular stuff, from about 3 weeks ago_
> 
> *Ratesetter's fresh lick of paint ....*



lipstick on a pig?

$1.66 offer price in the IPO .... not an auspicious debut this morning, as they say.

_and about 1000 retail investors that invest over the platform – supplying debt funding for the loans – were also sitting on steep paper losses on Wednesday after putting in equity to become shareholders _.


----------



## Value Collector (23 September 2020)

Dona Ferentes said:


> lipstick on a pig?
> 
> $1.66 offer price in the IPO .... not an auspicious debut this morning, as they say.
> 
> ...




We are only a few hours into the first day, lets check back in 12 months.


----------



## Dona Ferentes (23 September 2020)

What is their offering?
- Basic, *personal loans* comprise around two-thirds of its originations at present.  Latitude and (hoping to IPO) SocietyOne are competitors in personal lending, along with the major banks. 
- Growth is expected to come from areas such as *car loans (*Carsales is a strategic investor)  (now 20%) and renewable *energy installations *in homes (currently 15% of loans).  Macquarie is a major and well-established competitor on the vehicle space, while_ buy now, pay later _providers like Humm (Flexigroup) and Brighte are getting into renewable energy.

From the prospectus, PLT expects a 34% growth in loan origination in the next 12 months. It is likely the solar and battery sector is where they will do best (for a start, bad debt numbers would likely be far lower). Tesla is a partner, and will refer business to fund batteries. Plenti is running the South Australian government's $100 million battery scheme and is working with the NSW government to support its planned $3.2 billion investment into panels and batteries for solar. The NSW government will tender for a partner in the coming months, which Plenti is confident of winning. 







> Of the 300,000 solar power installations each year, only 3 per cent currently involve batteries, Mr Foggo said, but this will increase as the cost of batteries comes down. This will lift the average installation price of the kit from around $6,000 for just panels to around $16,000 for solar plus batteries, “and the propensity for people to take finance will increase,” he says.




Not that they are the only player for renewables. Last week, Humm and Brighte won a case in the Australian Competition Tribunal which suggested they will not have to conduct the same level of affordability checks on customers that Plenti has to as an interest-charging lender regulated by the credit act. The BNPL providers, which do not fall under the credit act as they don't charge customers interest, said the decision will help them grow faster. 

And just today, AGL Energy announced it will start installing discounted solar battery systems in households in NSW, Victoria and Queensland in an expansion of its "virtual power plant" program beyond South Australia as it works towards a 2024 target for storage through distributed resources and demand response. Customers joining the program in the three states will be able to buy batteries at cut-price rates in return for allowing AGL to use the systems at key times to improve security of supply, said AGL's general manager for decentralised energy resources, Dominique Van Den Berg.
. . . . .
On the other side. Plenti has around 22,000 registered retail investors; mums and dads can invest from as little as $10. Current returns for retail investors are around 5 per cent a year for three year commitments and 6.5 per cent for five years. Loans are also funded by eight smaller banks at the mutual end of the market, superannuation fund Future Super, and the government via the Clean Energy Finance Corporation.

-  _all in all, an interesting space. Pluses and minuses. just priced a bit high at IPO. 

(DNH)_


----------



## Value Collector (23 September 2020)

Dona Ferentes said:


> On the other side. Plenti has around 22,000 registered retail investors; mums and dads can invest from as little as $10.




As I have said I am one of them, and have been happily investing there for the past 3 years.

If anyone wishes to join me they are currently offering a bonus $50 each to both you and I, when you sign up and lend $1000 on the 5 year market if you use the link below.

https://mbsy.co/plenti/49795346


----------



## Telamelo (2 October 2020)

Value Collector said:


> As I have said I am one of them, and have been happily investing there for the past 3 years.
> 
> If anyone wishes to join me they are currently offering a bonus $50 each to both you and I, when you sign up and lend $1000 on the 5 year market if you use the link below.
> 
> https://mbsy.co/plenti/49795346



Oct 2 - Plenti Group PLT


RECORD LOAN ORIGINATIONS OF $106.9 MILLION FOR QUARTER, UP 48%
TOTAL LOAN PORTFOLIO INCREASED TO ABOUT $434 MILLION AS AT 30 SEPTEMBER '20

With their initial ipo PLT raised $55M (33million shares @ $1.66) and today's sp is heavily discounted at only $1.23 (Car Sales became a substantial holder this past week). Top 20 hold about 71% of shares on issue.

In light of easing of lending criteria (as recently announced by Federal Govt) think this may be worth a punt imo leading into their half yearly report due in November '20.

https://www.marketindex.com.au/asx/plt

DYOR .. Cheers tela


----------



## Telamelo (4 October 2020)

Telamelo said:


> Oct 2 - Plenti Group PLT
> 
> 
> RECORD LOAN ORIGINATIONS OF $106.9 MILLION FOR QUARTER, UP 48%
> ...



Be interesting to see if CAR decide to increase their existing 9.53% ownership stake in PLT (noting that last hr panic sell down on Trump's covid-19 scare last Friday that dropped sp to close down @$1.15 - mind you vwap was $1.205). 

Perhaps some of those other top 20 holder's will clean up/get involved in acquiring more PLT at these lowish levels? especially after that great announcement from last Friday morning.


----------



## Telamelo (5 October 2020)

No surprises seeing some big bids stepping up in *PLT* 

P.S. No ramping as just stating facts from market depth dynamics

P.P.S. Congrats to anyone that got some @ $1.15 late Friday arvo


----------



## Telamelo (6 October 2020)

From Carsales website

"We think it's an important part of the future of finance, so earlier this year Stratton Finance and carsales took a *20%* combined equity stake in Plenti Group PLT.

As one of the most innovative lending platforms in Australia, we're now proud to introduce Plenti as Stratton Finance's peer-to-peer lending partner.

Also reported today:

Used car prices continue to soar as commuters shun public transport, fearing COVID-19 contagion.

According to data analytics firm Datium Insights, used motor vehicle prices rose by 4.4 per cent last week after increasing by 2.1 per cent in the previous week.

“Demand for second hand cars remains firm during the pandemic with Aussies preferring to drive their own cars rather than catch public transport due to health concerns,” CommSec chief economist Craig James said.

“New vehicle sales are expected to lift later this year and through 2021 with further easing of domestic travel restrictions,” Mr James said.

“With foreign travel out of the question for now, consumers will favour purchases such as cars as well as lifting travel to regional holiday spots.”

Above seems to be a win-win scenario for both CAR & PLT shareholders combined imo

DYOR as always


----------



## frugal.rock (17 October 2020)

You have to wonder, who participates in an IPO and then sells down...?  
A dump and slump before a pump and dump perhaps?
Hit a low of 1.10...


----------



## Bill M (18 October 2020)

I have been a investor on the platform lending out my money on the 1 Month loan and now the 5 year loan.

I did not buy into IPO because there are some negative issues that I dislike immensely. They say you can access your money through the early access withdrawal feature on the 5 year loan. But during in the early days of COVID I could not access my money at all and I tried several times over several weeks. Then just as things were looking brighter they brought in a cap for the interest you can set for the 5 year loan. It meant that where you could ask for say 8% before you can not do that anymore and it it set at a pre determined value now. So now there are less lenders in the 5 year loan which means you can not get early access again. They set a limit where they have to have a certain amount available capital to loan before they can release your funds.

So when the IPO came out the first thing I thought was "why would I invest in something I don't like myself"? I am very glad I didn't seeing how the price of it's shares have gone now.

I am still loaning my money out in the 5 year loan but I withdraw all capital repayments and interest as I go along and I will continue doing that until I get all my capital back. I just don't like the fact that they have an "early access" option but in reality you can't really use it until conditions are met. There have also been complaints by other investors that the 1 Month rolling investment sometimes isn't a Month and keeps rolling over. I have not experienced this though. There is a site called product reviews where you can see the complaints from those investing with plenti. Look at the last 8 Months of reviews and you will see that they are not too favourable. Here is the link: https://www.productreview.com.au/listings/plenti-investors

I am not saying whether you should buy their shares or not. What I am saying is that if they lose a large portion of investors (those that lend money) then where will they get funding from? Without investors what will happen to this company and the price of your shares? Just something to consider, cheers.


----------



## Dona Ferentes (18 October 2020)

Sounds a bit like *"five letters starting with P"*


----------



## Value Collector (18 October 2020)

Bill M said:


> I have been a investor on the platform lending out my money on the 1 Month loan and now the 5 year loan.
> 
> I did not buy into IPO because there are some negative issues that I dislike immensely. They say you can access your money through the early access withdrawal feature on the 5 year loan. But during in the early days of COVID I could not access my money at all and I tried several times over several weeks. Then just as things were looking brighter they brought in a cap for the interest you can set for the 5 year loan. It meant that where you could ask for say 8% before you can not do that anymore and it it set at a pre determined value now. So now there are less lenders in the 5 year loan which means you can not get early access again. They set a limit where they have to have a certain amount available capital to loan before they can release your funds.
> 
> ...




yeah it seems all the liquidity has moved to the 1 month market, there is $3 Million sitting there waiting to be lent, but the 5 year market has much less liquidity now due to the reasons you mentioned.

it is still an attractive place to lend, but yeah we will have to see what the do to try and attract some of that cash from the 1 month market over to the 5 and 3 year market to increase liquidity.

the most the 1 month was delayed during COVID was 45 days.


----------



## Dona Ferentes (6 December 2020)

as an IPO, this has not traveled well. Down 33% since hitting the bourse late September.

The HY results in mid November ( " _delivering ahead of plan_ " ) appear not to have convinced early investors to stick around.

Highlights:
● _Record revenue of $26.0m, up 41% on H1 FY20 and ahead of prospectus  _
_● Record loan originations of $167m, up 33% on H1 FY20 and ahead of prospectus, with three consecutive months of record loan originations 
● Loan portfolio increased to $435m, up 42% on H1 FY20 and ahead of prospectus 
● Continued strong credit performance, with reduced 90+ day arrears, net losses and loan deferrals 
● NLAT (pro-forma) decreased to $3.4m, down 57% on H1 FY20 and ahead of prospectus 
● Automotive warehouse funding limit upsized from $150m to $275m, subject to legal documentation 
● Establishment of personal/renewable warehouse facility well progressed  
● Plenti app launched and met with strong investor take-up and engagement  _
_● $1bn total lending milestone surpassed_


----------



## Dona Ferentes (25 May 2021)

and full year results out.  Some might find them OK but the market has factored the growth in:


unsecured *personal loan *book was flat _year on year _
sharp growth coming from *car loans*, which surged fourfold to $264  million (and are now the same size as the personal loans).
has made $86 million in loans for *renewable energy* with originations climbing 33 per cent over the year as Plenti partners with the SA and NSW governments to support household investment in renewable energy.
Plenti has shifted from a _peer-to-peer_ lender to one funded by warehouse facilities, although it maintains two investor marketplace funding platforms. It lifted the funding limit on its secured, automotive warehouse to $350 million from $50 million during the financial year and established a second warehouse in December for renewable energy and personal loans with initial capacity of $100 million.

_whatever a warehouse is, I have little idea; but the reality seems to be that P2P was an erratic and expensive enterprise_


> _Plenti said its average funding cost has reduced by 190 basis points compared to 2020._


----------



## Dona Ferentes (13 July 2021)

but then, record high today of $1.46 on a strong trading update for the quarter ended 30 June 2021 (Q1 FY22).

_is it cheap money and a rebounding economy, along with generous tax write-offs?  In other words, how sustainable is it?_


Highlights
_• Record quarterly loan originations of $216.4 million, 260% above PCP and 26% above prior quarter  
• Record monthly loan originations of $83.4 million in June, representing a $1 billion annual run-rate  
• Loan portfolio increased to $757 million, 96% above PCP and 23% above prior quarter 
• Prime loan portfolio continued to demonstrate a strong credit performance, with annualised credit losses below 75 basis points and 90+ day arrears remaining low at 35 basis points 
• Automotive warehouse facility increased yesterday by $100 million to $450 million 
• Automotive warehouse equity requirement materially reduced, releasing funds to support ongoing growth 
• Renewable energy and personal loan warehouse facility increased by $100 million to $200 million 
• Commercial automotive loan offering successfully launched with selected referral partners, approximately doubling Plenti’s addressable market in automotive finance _


----------



## Craton (14 July 2021)

Up again today but still below the IPO priced at $1.66


----------



## Dona Ferentes (12 August 2021)

Plenti Group Limited (ASX: PLT) issued its debut asset-backed securities (ABS) transaction last week, through which it issued $306.3 million of notes to investors, backed by secured automotive loans.

Despite being an inaugural deal, the _Plenti Auto ABS 2021-1_ issue attracted strong demand from investors across all seven classes (three senior) of notes offered, with the top two classes – accounting for 87.8% of the notes – rated *Aaa *by global credit ratings agency Moody’s.

The transaction pool was secured by 9,594 automotive loans, made to prime borrowers, with an average contract balance of $31,270. Used cars accounted for 65.4% of the pool, while 34.6% of the loans were new-car financings.

The deal allowed Plenti to lock-in debt funding at low interest-rate costs, with the weighted average margin above the benchmark one-month Bank Bill Swap Rate (BBSW) just 97 basis points (0. 97%). The tranches offered margins above BBSW ranging from 80 basis points for the Aaa-rated top two classes to 620 basis points (6.2%) for the B2-rated Class F notes.



> Daniel Foggo, chief executive officer of Plenti, says the deal was “transformative” for the lender, which was looking to diversify its automotive-loan funding from warehouse-based to the “deep and lower-cost” ABS market. _“Auto is 50% of our originations, and if you wind the clock forward 24 months, it’s probably going to be higher still. We have one of the Big Four and some mezzanine funders funding a warehouse with $450 million of capacity, but by doing this ABS transaction, we reduced the funding cost on this $300 million-plus portfolio of loans by more than 1.5%. That is quite material funding saving, and actually improves our free cash flow on a monthly basis during the first month, by over $400,000_.”


----------



## Dona Ferentes (17 November 2021)

Plenti Group reported record half-year revenue and loan originations for the six months ending September 30.

The company’s half-year revenue climbed 43 per cent on the prior comparable period, to $37 million. Its half-year loan originations were up 183 per cent to $473 million, while its loan portfolio at half-year end was $915 million, up 110 per cent.

Plenti Group achieved *positive monthly cash net profit after tax *in October.



> “This was an outstanding half for Plenti. We grew strongly and evidenced our operational leverage, which set us up to achieve profitability in the second half,” said Plenti’s CEO, Daniel Foggo.






> “As an Australian fintech lending pioneer, being the first listed fintech to achieve a $1bn loan portfolio is a significant milestone on our mission to build Australia’s best lender. It shows that our technology-led offering is resonating with our partners and customers.”


----------



## Dona Ferentes (23 March 2022)

_and the good news keeps rolling.  Enough to lift the SP some 12% today, from the lows since listing of around 90c over the last month or so, to nudge above a buck._

Plenti has lifted its cash profit forecast for the six months ending March 31 to $2.2 million from $1 million.


> Plenti’s chief executive, Daniel Foggo, said: “_Our proprietary technology platform is delivering operating leverage as we scale while continuing to provide exceptional customer experiences, helping us take market share._ _“Having moved to a positive cash NPAT position, combined with the attractive corporate debt facility announced last week, Plenti is well-placed to continue its growth into the next financial year.”_


----------



## Dona Ferentes (20 July 2022)

_ring the bell? Down to a low of 61c for the 12 months, in June. Now 67c_

*Quarter highlights *
• Loan portfolio increased to $1.44 billion at 30 June 2022, 90% above PCP and 11% above prior quarter  
• Strong quarterly loan originations of $289 million, up 34% on PCP  
• Loan yields successfully increased across each lending vertical, as Plenti prioritised loan and business profitability over loan origination volumes 
• $437 million automotive loan asset-backed securities (ABS) transaction completed in June  
• Exceptional credit performance maintained and low 90+ day arrears of 31 basis points at 30 June 2022 
• Revenue of $30.5 million and continued positive Cash NPAT in the quarter


----------



## Telamelo (16 November 2022)

*PLT* @ 0.45c - chart showing a turnaround from 52 week low's with a bit of momentum etc. & good news announced this morning!  (disclosure bought in yesterday)


----------



## Telamelo (16 November 2022)

Telamelo said:


> *PLT* @ 0.45c - chart showing a turnaround from 52 week low's with a bit of momentum etc. & good news announced this morning!  (disclosure bought in yesterday)
> 
> View attachment 149315



PLT now @ 0.47c  +5.62%


----------



## Dona Ferentes (20 November 2022)

and put on  bit more by end of the week... had been sub 40c for a couple of months prior .. Volume not high, though


----------



## Telamelo (20 November 2022)

Dona Ferentes said:


> and put on  bit more by end of the week... had been sub 40c for a couple of months prior .. Volume not high, though
> 
> View attachment 149494



In and out for a quick 16% profit on PLT (as am wary of long term down trend here in play so plenty of overhead supply/resistance imo)

I'd rather re-invest $$ into say an undervalued gold stock like RMS  (much better prospects of ongoing upside potential imo) 

Good Luck!


----------



## Value Collector (21 December 2022)

Plenti have opened up a new market offering 9.2% interest.


----------



## Value Collector (5 January 2023)

Plenti video showing the Aussie dreams their loans have brought to life. I am happy to be both a lender and share holder.


----------

