Plenti achieves record loan originations

Plenti achieves record loan originations

Non-bank lender Plenti, formerly known as RateSetter, achieved record loan originations of $106.9m for the quarter ending 30 September 2020, up a commanding 48% from the prior corresponding period.

The result marks the group’s first quarter of loan originations exceeding $100m, following a series of record-setting months.

“Delivering three consecutive months of record loan originations and exceeding our prospectus forecast is an outstanding result,” said Plenti CEO Daniel Foggo.

“With this momentum, our focus remains on the development of market-leading and innovative products and building scale in each of our large lending markets.”

Over the quarter, the lender’s loan portfolio increased to approximately $434m – $8m above prospectus forecast.

Plenti was founded on a belief that by building a lending business with technology at its core we could offer customers better value and service than traditional lenders and build a business of serious scale,” said Foggo.

“We are delivering on that promise and our growth is testament to that central focus on technology and our customer.

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