Openpay (ASX:OPY) fills the ATM

Openpay has secured a $110 million facility to fund its bulging receivables profitably.

The funding increase from $55m to $100m will be provided by existing financier GCI Commercial Finance Fund (GCI) and Fortress Investment Group (Fortress), which the Company claims will deliver profitability.

“Openpay has been experiencing significant growth in receivables due to consistent and strong market demand,” CEO Dion Appel said.

“This increased facility reflects the confidence our long-term funding partners GCI have in the quality of our book and execution of our business model.

“Clubbing together with Fortress delivers the upsize in funding facility required to meet the growth we are
experiencing, and our commitment to achieve cash profitability by June 2023.”

Price Action

The Company’s ASX-listed shares are 20c at Market Open.

About Openpay

Openpay Group Ltd (ASX: OPY) is a fast-growing and highly differentiated fintech solution provider. The
Company supports both B2C and B2B platforms. Openpay’s form is an embedded finance solution delivering flexible repayment plans that help manage cashflow and household budgeting. Plans range from 2–24 months and enable transactions up to $20,000. Openpay is accepted in verticals including Automotive, Healthcare, Retail, Home
Improvement and Education. Openpay’s OpyPro, is a SaaS solution that enables merchants to manage their trade accounts via an end-to-end digitised platform enabling transactions in-store and online. The platform
supports the application and onboarding process, ongoing account management and business processing, including invoicing, remittance, and reconciliation.

About Global Credit Investments (GCI)

GCI is a leading provider of specialist credit in asset-backed finance, scale-up finance, and
strategic capital. Partnering with borrower clients, GCI takes a pragmatic approach and works through
deal complexity to provide innovative funding structures that enable its partners to grow.

About Fortress

Fortress Investment Group LLC is a leading, highly diversified global investment manager with
approximately $44.4 billion of assets under management as of June 30, 2022. Founded in 1998, Fortress
manages assets on behalf of over 1,900 institutional clients and private investors worldwide across a
range of credit and real estate, private equity and permanent capital investment strategies. Softbank acquired Fortress in 2017.

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