Wisr reports 95% spike in loan originations

The lender’s loan originations have almost doubled, contributing to a 136 per cent increase in operating revenue.

According to personal loan provider Wisr’s preliminary full-year results for the 2020 financial year (FY20), operating revenue increased by 135 per cent, from $3 million in FY19 to $7.2 million in FY20.

The earnings boost as underpinned by a spike in new loan originations, up 96 per cent, from $69 million to $136 million.

As a result, Wisr’s loan book more than doubled, increasing 113 per cent, from $79.6 million to $169.4 million.

Reflecting on the result, Wisr CEO Anthony Nantes commented: “FY20 has been a year of unquestionable success for Wisr. We’ve delivered significant growth across all of our key metrics and achieved major milestones.

“Our purpose-led, fully digital and agile fintech business model ensured we could rapidly respond to COVID-19 conditions, instantly adjust our models and succeed through unprecedented macroeconomic changes.”

He continued: “We achieved strong loan origination growth and revenue uplift for the second half of FY20.

“Our loan origination run-rate is now 45 per cent above pre-COVID-19 levels and our exit velocity from June puts us in a strong position for FY21.”

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Source: Wisr reports 95% spike in loan originations – Mortgage Business