Wisr sees 36% increase in loan originations

Further, the lender noted that its originations for the first half of the financial year (1HFY20) hit $54.9 million, an increase of 90 per cent when compared to the corresponding period in the previous year (1HFY19), and a 35 per cent increase on the second half of the 2019 financial year (H2FY19).

The latest figures brought Wisr’s total loan originations to $163.8 million as of 31 December 2019.

Commenting on the results, Wisr CEO Anthony Nantes said: “This is a fantastic achievement for Wisr as the company continues to grow its core lending business, while redefining what a consumer lending company can be.”

Mr Nantes noted the significance of the launch of Wisr’s $50-million NAB-funded warehouse facility, which was made live and operational in November 2019.

According to Wisr, the funding facility was created to increase debt capacity to fund growth, diversify funding partners to offset risks, improve overall margins and improve specific loan unit economics.

“With the announcement last quarter of a new funding facility that approximately triples the average margin to Wisr on each loan written, the company is at an exciting juncture with an aim to further accelerate growth,” Mr Nantes said.

He continued: “2020 is shaping up as another big year for Wisr as we continue to drive our strategy to scale loan originations, deliver category-defining products and partnerships, and ultimately provide Australians with a smarter, fairer alternative when it comes to their personal finances.”

[Related: $50m NAB-funded warehouse facility goes live]