Wisr upsizes funding facility

The facility went live in November last year, with an initial $50 million commitment.

Wisr stated the increased limit has reflected support from incumbent senior bank and mezzanine funders, together with recent funding from the Australian Office of Financial Management.

Andrew Goodwin, CFO at Wisr commented: “Through the strong support from our funders, in less than a year of the Wisr Warehouse going live, we have delivered 215 per cent growth in quarterly revenue (Q1FY21 versus Q2FY20), rapidly scaled our personal loan originations quarter-on-quarter and entered the $33 billion vehicle finance market in Q1FY21 via our new secured vehicle product.

“The compelling loan unit economics underpinned by the Wisr Warehouse, has us well placed to continue rapidly growing our loan book, while maintaining strong credit metrics.”