Wisr delivers 35% quarter on quarter growth in Q2FY21
Wisr announce it has continued its record of delivering record quarterly growth with prime loan customers, achieving a significant growth in quarterly new loan originations for the three months ending 31 December 2020 (Q2FY21).
Wisr has continued its Q1FY21 step-change momentum with Q2FY21 new loan originations of $83.8 million, a 35% increase on Q1FY21 and a 165% increase on Q2FY20. The company has now reached $390.5 million in total loan originations since inception, the most recent $50 million written in less than 2 months.
The Q2FY21 average credit score of 757 (Australian average credit score is circa 6002), is the highest average in the Company’s history (Q1FY21 average was 732). Wisr’s strong credit performance reinforces the prime nature of the Company’s loan book, customer credit quality and lending model.
Anthony Nantes, Chief Executive Officer, Wisr said, “We had a very strong start to the quarter and it’s fantastic to see that momentum continue through the holiday period, delivering 35% growth while attracting the best borrowers in Australia. The consumer sentiment shift we witnessed from COVID-19, for better financial products and services, has certainly not slowed down.”
“Our new secured vehicle product has also significantly increased the total addressable market for Wisr. Combined with our differentiated business model, consumer proposition, technology platforms and funding capability, we’re in prime position to continue to aggressively grow our new loan originations, with significant room to scale in the second half of the year and beyond. The team is excited about the growth we can deliver in 2021, and our ability to build a company of significant size and scale in this market,” finished Nantes.