Wisr delivers step-change increase in quarterly growth, with 47% increase in loan originations
Wisr announce it has delivered an accelerated quarter of new loan origination growth for the three months ending 30 September 2020 (Q1FY21).
Wisr delivered record growth results for Q1FY21, with new loan originations of $61.9 million, a 47% increase on Q4FY20 and a 166% increase on Q1FY20. The Company has now reached $306.7 million in total loan originations since inception, the most recent $50 million written in under 3 months.
The Q1FY21 average credit score of 732 (Australian average credit score is circa 600), is the highest1 average in the Company’s history (Q4FY20 average was 723). Wisr’s credit performance reinforces the prime nature of the Company’s loan book, and customer credit quality.
Anthony Nantes, Chief Executive Officer, Wisr said, “We have an unblemished record of delivering quarter-on-quarter growth, and it’s pleasing to see that growth accelerating. Delivering consistent quarter-on-quarter new loan growth throughout COVID-19, combined with the quality of customers we’re attracting is a strong validation of our business model, consumer proposition and technology platforms.
For millions of Australians, COVID-19 has put personal finance front-of-mind and they are looking for a smarter alternative, which Wisr is delivering.”
“After delivering 47% quarter-on-quarter growth in new loan originations, we still have a small but rapidly growing market share with significant room to scale. Our new secured vehicle product has also significantly increased the total addressable market for Wisr, providing entry to $33 billion dollars of2 annual vehicle finance.”
“We’re excited for the quarter ahead, as Wisr’s business model and commitment to the financial wellness of customers is strongly resonating in-market and driving record growth in all key financial metrics,” finished Mr. Nantes.
- According to data supplied by Equifax
- Includes consumer and commercial lending segments. ABS 5601.0 LTM to Dec-19, and ABS 5671.0 LTM to Nov-18; ABS
discontinued ABS 5671.0 in Nov-18.