Adelaide and Bendigo Bank’s $25M funding deal with Wisr

Company News

by Anna Napoli

Bendigo Bank and Adelaide Bank (ASX:BEN) has announced a $25 million wholesale funding agreement with Australian neo-lender Wisr (ASX:WZR)

The deal will see Bendigo and Adelaide bank provide a facility to fund existing and future loans and increase Wisr’s consumer loan book capacity.

Wisr provides an innovative and secure platform to facilitate loans between funder investors and consumer borrowers.

The Bendigo and Adelaide Bank facility to fund consumer loans will become fully operational in coming weeks.

Shares in Bendigo and Adealaide Bank (ASX:BEN) are trading up 1.32 per cent to $10.71

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.