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- Wisr (WZR) has posted record growth over 19 back-to-back quarters
- It comes as the ASX-lister tabled $97.8 million in loan originations over FY21’s third quarter — a 151 per cent increase on the previous corresponding period
- The neolender has now reached $488.3 million in total loan originations since inception, writing the most recent $100 million in less than five months
- Wisr has welcomed the increase in personal contract purchases as it scales towards a medium-term target of a $1 billion loan book
- Further, the company recorded its highest-ever credit score of 771 in the third quarter and says its strong credit performance generates an opportunity to take more market share
- WZR has increased its Wisr Warehouse loan funding facility to $350 million and is set to announce a further expansion in quarter four
- Wisr shares are up 4.44 per cent, trading at 23.5 cents each
Wisr (WZR) has posted record growth over 19 back-to-back quarters and more-than-doubled new loan originations last quarter.
It comes as the ASX-lister tabled $97.8 million in loan originations over FY21’s third quarter — a 151 per cent increase on the previous corresponding period.
The neolender has now reached $488.3 million in total loan originations since inception, writing the most recent $100 million in less than five months.
Wisr has welcomed the increase in personal contract purchases as it scales towards a medium-term target of a $1 billion loan book.
Recording its highest-ever average credit score of 771 in the third quarter this year, the company says its strong credit performance reinforces the prime nature of its loan book; customer credit quality and lending model.
Further, WZR says it now has an opportunity to take more market share and optimise profitability.
Wisr CEO Anthony Nantes commented on the company’s continued quarterly growth.
“It’s a fantastic result, which continues the incredible track record of 19 straight quarters that Wisr has delivered loan origination growth,” he said.
“Additionally, we’ve delivered yet another significant and material step-change in our new loan origination,” Anthony continued.
“As more prime borrowers leave the banks, Wisr’s purpose-led model is attracting Australia’s most creditworthy customers who are looking for a smarter, fairer deal, underpinned by an exceptional experience.”
According to WZR, the company’s new-to-market vehicle product has significantly increased its total addressable market and is delivering ahead of expectations.
“There is still a long runway of growth ahead of us in that market and we’re excited about the business we can build in that space,” the CEO added.
The company upsized its Wisr Warehouse loan funding facility to $350 million in the third quarter, following the strong loan performance.
Wisr is poised to announce further expansion of the facility to meet loan funding requirements in quarter four.
Wisr shares are up 4.44 per cent, trading at 23.5 cents at 12:07 pm AEST.
