Draft:Solvar Limited

Solvar traces its origins to the early 2000s, when the business commenced trading under the name Money Plus. In 2005, the company adopted the name Money3 Corporation Limited and was listed on the Australian Securities Exchange in 2006.^[3][4][5]

During the late 2000s, the company expanded its lending operations, including the launch of online and automotive loan products. In 2011 it acquired Tasmanian credit provider Personal Finance Co. In 2013 it acquired the assets of Assistive Finance Australia, which included a portfolio of Cash Store businesses. That same year, the company relocated its head office and secured loan operations to Bundoora, Melbourne.^[6][7][8][9]

In 2014, Money3 acquired Paid International, adding the brand Cash Train to its portfolio. In 2015, Scott Baldwin was appointed Chief Executive Officer. The company subsequently transitioned away from the provision of small amount credit contract (SACC) lending products.^[10][11][12]

In 2017, Money3 established a secured funding facility with Fortress Investment Group. In 2018, the group was added to the S&P/ASX 300 index. In 2019, the company exited small amount credit contract lending and sold its associated businesses. That same year it expanded into the New Zealand market through the acquisition of Go Car Finance.^[13][14][15]

In 2020, the company established a warehouse securitisation facility with a consortium of banks.^[16] In 2021, Money3 entered the near-prime automotive lending segment through the acquisition of Automotive Financial Services.^[17] In the same year, the company also acquired the Holden Financial Services legacy loan book, previously operated by GMF Australia Pty Ltd (GMFA), a subsidiary of General Motors Financial Company Inc.^[18]

In 2022, Money3 Corporation Limited changed its name to Solvar Limited. The group continued to restructure its funding arrangements in subsequent years, including refinancing warehouse facilities in 2024 and executing an asset-backed securitisation in 2025 related to its Money3 loan portfolio. In early 2025, the debt facility associated with Go Car Finance in New Zealand was fully repaid.^[19][20][21]

Solvar operates as a non-bank provider of automotive, consumer, and commercial asset finance. The group’s activities focus primarily on the origination and management of secured and unsecured loans, funded through a combination of equity, warehouse facilities, and securitisation structures.^[22]

The company’s consumer finance operations include lending for the purchase of new and used motor vehicles, as well as other personal finance products. Commercial finance activities are directed toward sole traders and small to medium-sized enterprises, providing funding primarily for vehicles and business equipment.^[23]

Solvar conducts the majority of its lending operations in Australia. The group also maintains operations in New Zealand related to the servicing of an existing loan portfolio following its acquisition of Go Car Finance. The company distributes lending products through a network of brokers, motor vehicle dealers, and direct digital channels. Loan servicing, credit assessment, and funding activities are managed centrally within the group.^[24]

Solvar operates through a portfolio of subsidiary brands in Australia and New Zealand.^[25]

• Money3 – an automotive finance brand in Australia providing non-bank vehicle lending products to retail customers.
• Automotive Financial Services (AFS) – provides automotive finance and related asset finance for vehicle purchases in Australia.
• Go Car Finance – a New Zealand-based subsidiary through which the group services an existing loan portfolio.
• Bennji – a commercial finance brand in Australia providing asset and equipment finance to business customers.
• Debt Resolutions – an Australian subsidiary of Solvar Limited that provides debt collection and recovery services.^[26]

Solvar is governed by a board of directors responsible for oversight of the group’s strategy, risk management, and regulatory compliance. Day-to-day management of the company is delegated to the executive leadership team.^[27]

The board comprises executive and non-executive directors, including an independent chair. The company’s executive management is led by a chief executive officer supported by senior executives responsible for finance, risk, and operations.^[28]

Solvar is subject to Australian corporate governance requirements applicable to publicly listed companies, including continuous disclosure obligations and board committee structures in line with Australian Securities Exchange governance principles.^[29]

Solvar operates within the Australian financial services regulatory framework applicable to non-bank lenders. The group’s lending activities are subject to oversight by the Australian Securities and Investments Commission (ASIC) and to consumer credit laws administered under the National Consumer Credit Protection Act 2009.^[30][31]

As a publicly listed company, Solvar is also subject to Australian Securities Exchange listing rules, including continuous disclosure obligations. The group is a member of the Australian Financial Complaints Authority (AFCA), the external dispute resolution scheme for financial services complaints in Australia.^[32]