Non-bank sees loan originations rise 17% qoq
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A non-bank lender has reported that its loan originations grew 17 per cent in the quarter ending 31 March 2021, up 17 per cent on the previous quarter and 151 per cent on the same period last year.
Personal lender Wisr has announced that it saw $97.8 million in loan originations for the quarter ending 31 March 2021 (Q3FY21), a 17 per cent increase on Q2FY21 and a 151 per cent increase on Q3FY20 (during peak COVID-19).
The lender, which provides unsecured loans of up to $63,000, noted that it has now recorded 19 consecutive quarters of growth, with its total loan originations now at $488.3 million.
Mortgage Business 05 March 2021
The personal lender has confirmed that its warehouse loan funding facility has been increased to $350 million.
Fintech lender Wisr has announced that, subject to finalisation of legal documentation, the Wisr Warehouse loan funding facility is to be increased to $350 million.
The lender said that the increased facility limit reflected the “strong support” from Wisr’s incumbent senior bank and mezzanine funders, on the back of continued strong credit performance.
According to the lender, it had recently seen “an accelerated Q2FY21 of new loan originations” totalling $83.8 million, alongside revenue growth and stronger loan book quality metrics.
Under the Wisr Warehouse funding model, the company delivered a material increase in revenue through significantly improved loan unit economics in Q2FY21 ($5.9 million), representing a 350 per cent increase on Q2FY20 and a 43 per cen