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Wisr hits high for new loans

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Reporter 5 minute read

The ASX-listed personal lender wrote $132 million in new loans during the September quarter, more than double year-on-year.

Wisr reported a 113 per cent rise in new loans from the September quarter the year before, with its total loan originations since the company’s inception now sitting at $743 million as at 30 September.

In the previous quarter, Wisr had $123 million in originations.

The Wisr Warehouse Loan Book balance ended September at $451 million, surging by 239 per cent year-on-year.

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The company has aimed for a $1 billion book in the medium-term, previously slotted for the 2022 financial year.

Anthony Nantes, chief executive at Wisr reported there had been “21 straight quarters of new loan growth”.

“Looking to the next quarter and beyond into H2, there is such a massive runway of growth ahead of us in the markets of auto finance and personal loans as lock-down restrictions start to lift; consumer demand will only grow,” Mr Nantes said.

“Combined with our new $225 million Wisr Secured vehicle Warehouse coming into effect in Q2FY22, we’re in an incredibly strong position to continue to deliver sustained growth.

“We’re delivering a clear competitive advantage that’s taking market share, delivering significant quarter-on-quarter growth through a two-year pandemic and building an industry changing consumer finance company that’s attracting Australia’s most creditworthy customers.”

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In August, Wisr flagged plans to increase its third-party distribution, in its quest to more than double its loan book.

The lender has also signalled that it was considering the addition of another board director or two, after it recruited ex-Macquarie Capital managing director Matt Brown in September.

[Related: MoneyMe to launch personal lending broker portal]

Wisr hits high for new loans
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