MoneyMe (ASX:MME) share price edges higher. Here’s why

The MoneyMe Ltd (ASX: MME) share price is edging higher in late morning trade. This comes after the company announced its warehouse facility has received increased funding commitments from a major Australian bank.

At the time of writing, the digital credit company’s share price is up 1.7% to $1.53.

Increased funding commitment

The MoneyMe share price is in the green today after reporting an update that has investors pleased.

According to its release, MoneyMe advised that one of the ‘big 4’ Australian banks has provided an increased senior warehouse commitment of $150 million. This is a 50% increase on the previous $100 million that was backed by the group’s major funder.

Under the new arrangement, it’s expected that the…