Wisr recorded $31.6 million in new loans in the second quarter of FY20, rising by 36 per cent on the prior quarter.
The lender’s total originations reached $163.8 million on 31 December.
Its new funding facility also operated in the same quarter, with Wisr pointing to an approximate tripling of average margin compared to previous loan unit economics.
Wisr chief executive Anthony Nantes commented 2020 will be another big year for the company as its continues to drive its strategy to scale loan originations and provide a “fairer alternative” for personal finances.
“With the announcement last quarter of a new 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.
“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.”
Sarah Simpkins
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
Sarah has a dual bachelor's degree in science and journalism from the University of Queensland.
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