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The fintech lender’s latest market update has revealed “significant” growth for the quarter ending 30 September 2024.
Fintech lender Wisr Limited (Wisr) has recorded a 54 per cent increase in loan originations for the first quarter of the financial year ending 30 June 2025 (FY25), compared to the same period in FY24.
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In Wisr’s first quarter company update released on Wednesday, the lender reported $77.3 million in loan originations, compared to $50.1 million during the previous corresponding period (PCP).
This result also represented a 40 per cent increase from the previous quarter (4QFY24) where Wisr recorded $55.2 million in loan originations.
The report showed increases in both secured vehicles (up 67 per cent) and personal loan originations (up 49 per cent) compared to the PCP, and an improvement in 90+ day arrears (1.40 per cent) from 4QFY24 (1.58 per cent).
Wisr also noted a 15 per cent decrease in loan book value ($753 million) compared to 1QFY24 ($887 million), but attributed this to a “moderated growth strategy implemented during FY24”.
Andrew Goodwin, Wisr CEO, said: “We are delighted to deliver our first full quarter of growth since pivoting from moderated growth settings in FY24. These results were headlined by a significant increase in loan originations to $77.3 million, reflecting a 54 per cent increase from the prior corresponding period.
“Maintaining the prime quality of Wisrʼs loan book was a focus during this period, and we were pleased to see improvements in yield while maintaining a strong average credit score of 782.
“Our continued work enhancing collections processes reduced 90 day arrears to 1.40 per cent, down from 1.58 per cent in the previous quarter. In addition, we saw a reduction in net losses to 2.06 per cent from 2.75 per cent over the same period.
“Looking ahead, as we focus on growing loan originations and our loan book in FY25 and beyond, we are encouraged by significant improvements in our unit economics.”
[Related: Wisr records increase in loan originations]
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