Neo-lender raises $4m in capital

A neo-lender has raised more than $4million from shares, saying the investment acknowledges the transformation of the business.

Wisr, which has also released its figures for the last financial year, provides personal loans and technology products to help borrowers.

It will use the funds to take a more innovative approach on how loans are funded and to potentially increase margins.

The capital will also assist in helping the company’s ongoing growth initiatives as part of its customer acquisition and retention strategy.

Commenting on the capital raise, Anthony Nantes, chief executive officer, said, “We are delighted with the strong support we received from the capital raise.

“This investment acknowledges the transformation of our business model to a truly unique business and will support the continued development of our innovative products and services, including WisrCredit.com.au and the new Wisr app.

“This additional capital will allow us to deliver more for everyday Australians and comes as we approach the milestone of $50M in cumulative loans in the coming weeks.

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Source: Neo-lender raises $4m in capital