Wisr, Bendigo and Adelaide Bank announce $25m wholesale loan funding agreement

Australian neo-lender Wisr Limited (ASX: WZR) today announced a $25 million wholesale funding agreement with Bendigo and Adelaide Bank Limited.

The agreement will see Bendigo and Adelaide Bank provide a facility to fund existing and future loans and increase Wisr’s consumer loan book capacity, as well as improving the opportunity for revenue generation and operational performance.

Bendigo and Adelaide Bank is Australia’s fifth-largest retail bank and a top ASX-60 listed company. It has a range of operations in consumer and business financial solutions, third-party banking and wealth services, and agribusiness.

Wisr provides an innovative and secure platform to facilitate loans between funder investors and consumer borrowers.

Anthony Nantes, Chief Executive Officer, Wisr said “the agreement with Bendigo and Adelaide Bank further diversifies our funding mix and enhances the ability to support our immediate and long-term growth trajectory as opportunities to expand our partnership emerge.

“Wisr continues to deliver innovative technology solutions that provides investors with access to an outstanding asset class. We are excited to complete this agreement with a company which has the history, knowledge and capability of Bendigo and Adelaide Bank, as we continue to grow and target more opportunities within the $100 billion consumer finance market in Australia.”

The Bendigo and Adelaide Bank facility to fund consumer loans originated and serviced by the Wisr platform will become fully operational in the coming weeks.