- CEO
- Scott Joseph Baldwin
- Full Time Employees
- 350
- Sector
- Financial Services
- Industry
- Financial - Credit Services
- Address
- 40 Graduate Road Bundoora VIC Australia 3083
- IPO Date
- Aug 17, 2006
- Business
- Solvar Limited (ASX: SVR) is a leading non-bank provider of automotive and personal finance solutions across Australia and New Zealand. The company offers consumer loans for new and used vehicles, including cars, motorbikes, utility vehicles, trailers, tractors, trucks, caravans, boats, horse floats, ride-on mowers, equipment, and jet skis; secured and unsecured personal loans; commercial loans primarily to small businesses and sole traders for vehicles or equipment; and fleet funding facilities to strategic corporate customers, delivered through its core brands Money3 and Automotive Financial Services (AFS) in Australia and Go Car Finance (GCF) in New Zealand. Customers access these products via a broad network of brokers, dealers, the company's websites, and referral partners, with operations supported by approximately 350 finance professionals in offices located in Melbourne, Brisbane, and Auckland.
Founded in 2005 and headquartered in Bundoora, Victoria, Australia, Solvar previously operated as Money3 Corporation Limited until its name change in November 2022. In recent developments, the company launched Bennji, a new commercial lending brand targeting small to medium businesses, tradies, and transport operators for funding of utes, vans, light commercial vehicles, and equipment, leveraging technology for fast approvals and flexible structures. Solvar acquired a 19.9% equity stake in Earlypay Ltd (ASX: EPY) in May 2024 to expand its commercial lending footprint, completed its first $200 million asset-backed securitization in fiscal year 2025 to reduce funding costs, and repurchased 14 million shares below net tangible assets value. For fiscal year 2025, Solvar reported a 5% increase in its loan portfolio, a 17.4% rise in net profit, and a 40% dividend increase, alongside investments in cyber resilience achieving ISO27001 certification. The company shifted strategic focus toward Australian commercial lending growth while planning a gradual wind-down of New Zealand operations.