The Wisr Ltd (ASX: WZR) share price has opened 3.77% higher on Monday to 27.5 cents after the company announced yet another record quarterly result.
Wisr is a non-bank lender, offering personalised consumer loans of up to ~$63,000. The company also owns an innovative money management app allowing customers to round up purchases to the nearest dollar, with the difference used to pay off existing loans.
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Why the Wisr share price is on the move
Wisr was pleased to announce the "continued trajectory of uninterrupted growth", delivering its 20th consecutive quarter of growth.
The company announced $123 million of new loans originated in Q4 FY21, a 26% increase on Q4 FY21 and a 193% increase against the prior corresponding period.
Wisr said it has now reached $611 million in total loan originations since inception, with the latest $100 million written in less than three months.
This momentum has carried through to its loan book balance, sitting at $379 million as at 30 June 2021, or a 342% increase on the prior corresponding period.
The company said that its medium-term target is to scale towards a wholly-owned $1 billion loan book.
What did management say?
Wisr CEO Anthony Nantes hailed the continued momentum, saying:
It's an incredible result to deliver 20 straight quarters of loan growth and another significant and material step-change in our new loan originations. Wisr's purpose-led model is attracting Australia's most creditworthy customers as they leave the banks and seek a smarter, fairer deal, underpinned by an exceptional experience that actually improves financial wellness.
About the Wisr share price
The Wisr share price has stalled in the past month, following a capital raising on 1 June.
The $50 million capital raising would offer a significant discount to participants, with new shares issued at 25 cents each, or a 21.9% discount to its last closing price on Friday, 28 May.
When Wisr resumed trading on 2 June, the company's shares plummeted 14% from 32 cents to 27.5 cents.
Despite this, the Wisr share price is still up a solid 40% year-to-date.
