Australian FinTech company profile #69 – Wisr
1. Company Name:
Wisr
2. Website
3. Key Staff & Titles:
CEO, Anthony Nantes
CFO, Andrew Goodwin
Chief Risk and Data Officer, Joanne Edwards
4. Location(s):
We are headquartered in Sydney with mobile offices in Melbourne, Perth and Brisbane.
5. In one sentence, what does your fintech do?
Wisr are building a purpose-led company, Australia’s first “neo-lender” which is reinventing what a consumer lending company can be. We do this by not only providing access to smarter, fairer credit, but also by providing financial wellness solutions that help Aussies to manage credit, pay debt down faster and improve their financial position.
6. How / why did you start your fintech company?
Aussies get a remarkably bad deal on consumer credit when compared to similar markets around the world, and incumbent institutions have demonstrably failed to deliver outcomes that put the customer and their financial wellbeing, first. We believe that by using technology we can deliver smarter, fairer and wiser outcomes for all Australians.
Our neo-lender model is unique not only in Australia but in a global context, putting Wisr at the forefront of what a purpose-led fintech can look like in 2020 and beyond. We do this by fusing the best of emerging fintech with the operational reliability of a traditional lender, led by our purpose and delivered through world-class customer experience.
7. What is the best thing your company has achieved or learnt along the way (this can include awards, capital raising, etc.)?
Since we launched the Wisr brand and neo-lender model in 2018, we have increased the value of the company from $6m to $150m-$200m, grown loan originations at a rate of knots, hired superstar talent, and launched four truly innovative products into the market.
It has been one of the fastest and most remarkable turnarounds in Australian tech, and one that has been embraced by its customers and the fintech industry. Wisr, one of Australia’s few ASX-listed fintech’s, has become one of the most recognised with 9 industry award wins and 24 nominations for delivering innovation, leadership, and excellence in consumer lending.
It signals the beginning of a company building something big – something purpose-led, that could make a real difference in the consumer finance sector in Australia.
8. What’s some advice you’d give to an aspiring start-up?
Break the mold of what is possible. Just because it hasn’t been done before, doesn’t mean it can’t be done. For example, we know we’ll make less margin than the incumbents by helping our customers to pay our loans down faster, but it is only because we’re a challenger and not an incumbent that this business model is possible.
9. What’s next for your company? And are you looking to expand overseas or stay focussed on Australia?
We’re focused on our purpose-led vision, giving Australians a fairer go. We will continue to roll out and improve our strategic growth channels as part of our neo-lender strategy and work to help our customers improve their financial standing. Watch this space to see what’s next, but nothing is off-limits.
10. What other fintechs or companies do you admire?
In markets such as the US and UK, there are some great alternative lenders taking large market share (off the incumbents), through superb innovation. Here in Australia, we think there are some fantastic unicorns out there like Canva, Zip and Atlassian who are doing great things on a global scale.
11. What’s the most interesting or funniest moment that’s happened in your company’s lifetime?
We hold regular lunch and learn and wellness sessions in the office. Loads of interesting and inspiring people come into the office to speak from different industries and backgrounds. We once had Steve Rader from NASA deliver an exhilarating and motivating talk about innovation, collaboration, and the future of work. One of the many things that inspire us to keep shooting for the moon.
