Powered by MOMENTUM MEDIA
subscribe to our newsletter

Wisr closes $50m raise

The listed lender has raised $50 million, with plans to build out the company as it swings for a $1-billion loan book.

Wisr closed its institutional placement on Wednesday (2 June), raising $50 million through the issue of 200 million new shares at 25 cents each.

The placement shares represent 18.2 per cent of the issued capital in the company.

Chief executive Anthony Nantes commented that the placement result showed “significant support for the Wisr business model and forward outlook”.

“The proceeds of this capital raising will allow Wisr to build a company of significant size, scale and impact in the Australian market,” Mr Nantes said.

Advertisement
Advertisement

“We are very excited for what’s ahead in FY22 and beyond.”

The lender will also be conducting a retail raise, offering a share purchase plan to shareholders under the same 25 cent price.

Wisr also reported that it had originated $77.1 million in new loans for the two months up to 31 May – a 234 per cent surge compared with its $23.1 million total for the same period the year before.

There had been $42.1 million in loans originated in May, compared with $13.8 million the year before. April saw $35 million, more than tripling from $9.3 million a year prior.

“Our growth to date had us in prime position to aggressively grow market share, as we scale towards our medium-term target of a $1-billion loan book,” Mr Nantes said.

PROMOTED CONTENT


The board is also set to see a revamp of its governance structure, with the addition of two new independent directors in the 2022 financial year.

[Related: Wisr new loan originations up 17%]

Wisr closes $50m raise
Wisr closes $50m raise
mortgagebusiness

Are you a new-to-industry broker in the process of growing your business? Then there’s some great news: The Adviser’s New Broker Academy is back in 2021 and will provide you with essential insights into cutting-edge tools, strategies and processes to fast-track to success. Don’t miss your chance to attend. To secure your FREE place, visit newbroker.com.au now!

Sarah Simpkins

Sarah Simpkins is the news editor across Mortgage Business and The Adviser. 

Previously, she reported on banking, financial services and wealth for InvestorDaily and ifa.

You can contact her on This email address is being protected from spambots. You need JavaScript enabled to view it..

Latest News

Reverse mortgage lenders have accessed a small fraction of the potential retiree housing market in Australia, according to Deloitte. ...

Pepper Money has priced its second I-Prime deal for the year, upsizing the figure to $850 million. ...

The LMI provider has announced a new CFO following the resignation of its current CFO, effective 24 September. ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.