- Consumer lender Wisr (WZR) is touting another two months of record growth as its momentum continues through the 2021 financial year
- The company released a mid-quarter business update today wherein it flagged $50 million in new loan originations in less than two months
- This means Wisr is on track for another strong quarter — continuing its trend of consistent quarter-on-quarter growth since the start of 2018
- All up, Wisr has now reached just under $360 million in total loan originations ‘
- Shares in the company tacked on almost 5 per cent today to close worth 22 cents each
Wisr (WZR) is touting another two months of record growth as its momentum continues through the 2021 financial year.
The consumer lending company released a mid-quarter business update today after having hit a milestone of $50 million worth of new loan originations in less than two months.
This means the company is already on track for another record quarter. Since 2018, Wisr has posted consistent quarter-on-quarter growth.
According to the company, it took 45 months for Wisr to bring in its first $50 million of loan originations. The second $50 million took eight months; the third took six months. By the end of the first quarter of FY21, Wisr reached $50 million in new loan originations in less than three months.
Now, it’s taken less than two.
All together, Wisr has now reached $356.7 million in total loan originations.
“It’s been a fantastic start to this period, as we look to continue our unblemished record of delivering quarter-on-quarter growth,” Wisr CEO Anthony Nantes said.
“Our commitment to the financial wellness of Australians is resonating with consumers looking for a smarter alternative, and we have strengthened our business over the last few quarters, putting ourselves into a significantly stronger position despite this year’s many challenges,” he said.
“Wisr’s clearly differentiated strategy and business model in this sector, unique consumer proposition and technology platforms are driving record growth and has positioned Wisr strongly to continue disrupting the consumer lending sector and allow us to continue to take market share,” he stated.
Shares in Wisr have largely recovered from the COVID-19-induced March market crash. Today, the company closed 4.76 per cent higher with shares at 22 cents each. Wisr has a $240.96 million market cap.