Solvar

What Solvar does

Solvar Limited (ASX: SVR) is an Australian-listed non-bank specialty finance provider operating across Australia and New Zealand, employing approximately 350 finance professionals across offices in Melbourne, Brisbane, and Auckland. Founded in 2000 as Money Plus, the group listed on the ASX in 2006 as Money3 Corporation Limited and rebranded to Solvar Limited in December 2022. The company serves consumers, small businesses, and corporate fleet customers through four operating brands: Money3 (primary Australian consumer lending), Automotive Financial Services / AFS (near-prime auto, acquired 2021), Go Car Finance / GCF (New Zealand auto, acquired 2019), and Bennji. Solvar specializes in secured and unsecured vehicle loans, personal loans, commercial loans for SMBs and sole traders, and fleet funding facilities, targeting borrowers often excluded by traditional bank lenders due to non-standard credit profiles or employment situations.

The core product set is delivered through a cloud-based loan processing and management platform, with credit assessment leveraging integrations to Equifax, illion, and Experian. The revenue model is transaction-fee based — Solvar earns interest and fee income on originated loans, with pricing customized per customer credit assessment. Distribution is multi-channel via broker networks, automotive dealer partnerships, direct brand websites, and referral partners. The loan book grew from $308.1m (FY18) to $433.8m (FY20) to $637.5m (FY21, +45.1% YoY), with cumulative consumer loan originations exceeding $1bn.

Solvar's funding architecture has evolved materially: $50m equity placement in December 2020, a $450m warehouse facility with a leading global financial services group in February 2024, a $60m mezzanine tranche from private credit funds in September 2024, and the company's first asset-backed securitisation in March 2025 — transferring $199.85m of Money3 assets to a securitisation trust with $139.4m in external debt. The company has shifted toward Australian market focus: the NZ warehouse facility was fully repaid in January 2025, and in November 2025 Solvar announced the sale of its NZ arrears loan book for NZ$8.0m and is accelerating NZ exit. A 19.9% strategic stake in Earlypay Ltd was acquired in May 2025.

Name

Solvar

Legal name

Solvar Limited

Website

https://solvar.com.au

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

101–250 employees

Short description

Solvar Limited (ASX: SVR) is an Australian-listed non-bank specialty finance provider offering automotive, personal, and commercial loans to consumers, small businesses, and corporate fleet customers across Australia and New Zealand through its Money3, AFS, Go Car Finance, and Bennji brands.

Ownership category

akta.pro rank

Product category

Consumer Lending

NAICS

Sales Financing (52222)

SIC

Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Large Purchase & Lifestyle Personal Loans (Unsecured Installment) (FSAKAAAG)

akta.pro secondary industries

Distributor & Dealer Finance (Channel Financing) (FSABAHAE), Personal Loan Refinance (Rate/Term) (FSAKAIAB)

Keywords

• Automotive finance
• Personal loans
• Non-bank lending
• Vehicle financing
• Consumer credit

Headquarters

HQ city

Bundoora

HQ country

Australia

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Automotive Finance: Interest income from secured and unsecured vehicle loans provided to consumers for purchase of new or used vehicles. Core revenue stream through Money3, Automotive Financial Services, and Go Car Finance brands operating across Australia and New Zealand.
2. Personal Loans: Interest and fee income from personal loans offered to consumers who may be excluded by traditional lenders. Provides flexible secured and unsecured personal lending solutions.
3. Commercial Loans: Revenue from commercial loans offered to small businesses and sole traders for vehicle or equipment purchases to support business operations. Also includes fleet funding facilities for strategic corporate customers.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

Solvar Limited is a leading provider of automotive and personal finance across Australia and New Zealand, operating through three core brands — Money3, Automotive Financial Services (AFS) and Go Car Finance (GCF) — plus Bennji. It specialises in flexible secured and unsecured vehicle and personal loans to consumers often excluded by traditional lenders, and also offers commercial loans to small businesses and fleet funding to corporate customers.

Product overview

Solvar Limited is a non-bank finance provider operating a multi-brand platform across Australia and New Zealand. The group consists of three core brands: Money3 (primary consumer lending brand), Automotive Financial Services (AFS, near-prime automotive), and Go Car Finance (NZ market), plus Bennji. The product portfolio encompasses automotive finance for new and used vehicles, personal loans (secured and unsecured), commercial loans for small businesses and sole traders, and fleet funding for corporate customers. The group distributes through brokers, dealers, direct websites, and referral partners. Funding is supported by warehouse securitisation facilities and term asset-backed securitisation.

Differentiator

Problem solved

Functional benefit

Brands

• Money3: Primary brand providing automotive and personal finance in Australia
• Automotive Financial Services (AFS)
• Go Car Finance (GCF)
• Bennji

Products and services

• Money3 Primary consumer lending brand in Australia offering secured and unsecured vehicle loans and personal loans to customers often excluded by traditional lenders. Distributed via brokers, dealers and the money3.com.au website.
• Automotive Financial Services (AFS) Near-prime automotive finance brand serving the Australian market, providing vehicle financing solutions to customers across the credit spectrum through broker and dealer channels.
• Go Car Finance (GCF) New Zealand automotive finance brand providing vehicle loans and personal lending solutions to NZ customers. Note: Solvar announced sale of its NZ arrears loan book in November 2025 and is accelerating exit from the NZ market.
• Bennji

Quantifiable outcome

• 45.1% increase in loan book to $637.5m as at 30 June 2021
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Partnerships

Four partnerships are on record, tiered core and supporting.

• Money3coreChannel Partner/ Reseller/ DistributorMoney3 is one of Solvar's core operating brands in Australia, specializing in automotive and personal loans for consumers often excluded by traditional lenders. Fully owned subsidiary brand.
• Automotive Financial Services (AFS)coreChannel Partner/ Reseller/ DistributorAFS is one of Solvar's core brands acquired in 2021 to enter the near-prime automotive market. Provides automotive finance solutions through broker and dealer channels.
• Go Car Finance (GCF)coreChannel Partner/ Reseller/ DistributorGo Car Finance is Solvar's New Zealand brand acquired in 2019 for NZ market entry. Note: Solvar announced sale of NZ arrears loan book in November 2025 and is accelerating exit from NZ market.
• BennjisupportingChannel Partner/ Reseller/ DistributorBennji is Solvar's supporting brand focused on providing loan solutions. Brand website operated at bennji.com.au.

Scale indicators7 records

Recent moves14 records

Expansion highlights6 records

Direct peers

• Plenti Group: ASX-listed Australian lender providing automotive, renewable energy, and personal loans, with a comparable technology-led, multi-channel approach to consumer and SME specialty finance.
• Humm Group (formerly Flexigroup): ASX-listed consumer finance provider offering point-of-sale and personal lending products across Australia and New Zealand, with similar multi-brand distribution and exposure to non-prime borrowers.
• Latitude Financial Services: ASX/NZ-listed non-bank consumer lender offering personal loans, auto finance, and credit cards across Australia and New Zealand, targeting similar near-prime and non-prime customer segments with multi-channel broker and digital distribution.
• Resimac Group: Australian non-bank lender specialising in residential mortgages and asset finance through broker channels, with comparable securitisation-driven funding model and specialty customer focus.
• Pepper Money: Australian non-bank specialist lender focused on non-conforming residential mortgages, asset finance, and personal loans to underserved borrowers - directly comparable to Solvar's specialty finance proposition.
• Credit Corp Group: ASX-listed Australian consumer finance and debt recovery group providing personal loans and purchased consumer receivables, with overlap in non-prime lending and similar geographic footprint.
• Heartland Group Holdings: NZX-listed New Zealand reverse-listed bank offering consumer and asset finance, including reverse mortgages and livestock finance, with overlapping Australian presence through Heartland Bank.
• Firstmac Limited: Australian non-bank mortgage and asset finance lender operating through broker networks, with comparable securitisation funding expertise and similar Craig Parker board linkage.
• Liberty Financial: Australian specialty finance group offering personal loans, asset finance, and novated leases to consumers and businesses, including through broker and dealer channels - comparable distribution and customer mix.

Broad incumbents

• Carsales.com.au: ASX-listed leading Australian automotive marketplace; not a direct lender but adjacent via automotive finance referral ecosystem and connection to non-prime vehicle financing opportunities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/solvarlimited

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Solvar