Wisr reinventing what a consumer lending company can be
Unique financial wellness ecosystem poised to drive growth
Sydney, 30 August 2019 – Wisr Limited (ACN 004 661 205), (ASX: WZR) (the “Company”), Australia’s first neo-lender today released its Preliminary Financial Report for the year ended 30 June 2019.
FY19 Highlights:
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Operating revenue up 91%, to $3.0m (FY18 $1.6m)
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Loan origination volume up 281% to $68.9m (FY18 $18.1m)
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Marketing expense down 4%, to $1.46m (FY18 $1.52m)
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The Company is well capitalised with $16.8m net assets including $12m cash as at 30 June 2019
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Consistently strong credit quality with 90+ day delinquencies of 1.55% as at 30 June 2019
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Marginal increase in full year net loss to $7.4m (FY18: $6.2m), while repositioning the Company for long-term growth
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Raised $15m, net of costs, in an oversubscribed equity raise in H2FY19
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Launched Wisr App to promote more financial wellness and encourage debt reduction for Australians, with over 25,000 downloads in its first few months
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Launched WisrCredit, the country’s only credit score comparison service with over 32,000 Australians comparing their scores as at 30 June 2019
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Significantly extended the reach and potential of the Wisr Financial Wellness Ecosystem (“Wisr Ecosystem”) through the launch of Wisr@Work and Wisr&Co B2B2C partnership models
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Strategic partnership announcements including Smartgroup, HCF and an industry super fund
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Progress towards evolving Wisr debt funding facilities with multiple parties
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