Finance company Thorn Group has increased its shareholding in consumer lender MoneyMe to 8.6 per cent, after outlaying A$5 million to buy more than 64 million shares in MoneyMe’s recent placement. Thorn flagged further share buying in MoneyMe, saying in an ASX statement: “Thorn’s directors continue to assess capital management initiatives and investment opportunities in the fintech sector that align with Thorn’s core business strategy as a diversified small business focussed financial services organisation. “The Thorn directors consider the further investment in MoneyMe aligns with Thorn’s business strategy.” Thorn first appeared on the MoneyMe share register in September last year, when it bought shares in a placement. It bought more shares on market between November and January. It was not so long ago that MoneyMe was investing for growth. In March last year it acquired rival consumer lender SocietyOne in a deal worth $132 million. But since then it has been preoccupied with funding issues, including negotiations to pay down part of its corporate debt facility that dragged on for more than three months. Most recently, it reported that originations fell 71 per cent in the March quarter, compared with the March quarter last year. The business has lost momentum. Thorn, on the other hand, is cashed up after selling its Radio Rentals consumer finance division to Credit Corp and is looking to rebuild its business.