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- Consumer lender Wisr (WZR) outperforms the market and trades green on the back of its 20th consecutive quarter of growth
- The company originated $123 million worth of new loans of the June 2021 quarter, which is 27 per cent more than the March quarter
- This marks the 20th quarter in a row that Wisr has grown its loan originations, which now sit at $611 million — 149 per cent higher than this time last year
- The company cites a strong focus on yield and profitability through a mixture of secured and unsecured lending as the cause of its ongoing momentum
- Shares in Wisr are up 3.77 per cent and trading at 28 cents each at 2:02 pm AEST
Consumer lender Wisr (WZR) is outperforming the market and trading green today on the back of its 20th consecutive quarter of growth.
The company told investors this morning it originated $123 million worth of new loans over the June quarter of 2021, which represents a 27 per cent increase on the March 2021 quarter and a 193 per cent increase on the June 2020 quarter.
This marks the 20th quarter in a row that Wisr has grown its loan originations, which now sit at a total of $611 million. This is 149 per cent higher than the same time last year.
Wisr CEO Anthony Nantes said this is an “incredible” result for the company.
“Wisr’s purpose-led model is attracting Australia’s most creditworthy customers as they leave the banks and seek a smarter, fairer deal, underpinned by an exceptional experience that actually improves financial wellness,” Mr Nantes said.
“Since launch, our secured vehicle product continues to deliver ahead of expectations and there is a massive runway of growth ahead for us in that category.
“We’re delivering a clear competitive advantage through our differentiated business model, consumer financial well-being proposition, technology platform and funding capability.”
The company cited a strong focus on yield and profitability through a mixture of secured and unsecured lending as the cause of its ongoing momentum.
The company’s Wisr Warehouse loan book balance has grown to $379 million as of the end of June 2021, which is 342 per cent higher than the same time the year before. The company said it is busy scaling towards its medium-term target of a $1 billion loan book.
Wisr launched a $55 million capital raise in early June to help fund this goal.
Shares in Wisr were up 3.77 per cent and trading at 28 cents each at 2:02 pm AEST. The company has a $355 million market cap.
