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WZR

Wisr Rallies On The Back Of Impressive Q2 FY20 Results

Tumul Sinha

Tumul is an experienced Equity Analyst with ASR Wealth Advisers. She holds a Master’s Degree in Finance from the University of Sydney. Her key industry verticals include Real Estate, Health Care and Technology.

Australian peer to peer lending service provider Wisr (ASX: WZR) has opened up over 4% this trading session, on the back of an ASX release which outlined strong second quarter financials, including $31.6 million in new loans in Q2 FY20 (a 36% increase when compared to the previously comparable period, Q1 FY20), meaning total loan originations have now reached $163.8 million. H1 FY20 originations are now up 90% and 35% when compared to H1 FY19 and H2 FY19 respectively.

 
Wisr Q2 FY20 Results
Australian peer to peer lending service provider Wisr (ASX: WZR) has rallied over 4% after announcing strong quarterly financial results, including 36% growth in loan origination when compared to last quarter. (Credit: twitter.com)

Wisr is an Australian fintech marketplace lender, offering peer to peer lending services. Wisr a holding company for subsidiaries of Wisr Investment Management, Wisr Credit Management and Wisr Loans Servicing. The stock has a market capitalization of 202.50 million and is now trading for $0.24 per share. It has rallied over 700% since March 2018, when the Company officially rebranded from DirectMoney to Wisr. Furthermore, the share price has spiked over 60% spike in the past two weeks alone.

The future also looks positive for Wisr, with the introduction of a new funding facility last quarter. The facility can supposedly triple the average margin to Wisr on each loan written. CEO Anthony Nantes commented on an FY20 outlook for the fintech company, mentioning that:

the Company is at an exciting juncture with an aim to further accelerate growth

and saying that:

2020 is shaping up to be another big year as Wisr continues to scale loan originations, deliver category defining products and partnerships, and provide Australians with a smarter, fairer alternative when it comes to their personal finances.

 


 

Disclaimer:

This article has been prepared by the Australian Stock Report Pty Ltd (AFSL: 301 682. ABN: 94 106 863 978)

(“ASR”). ASR is part of Amalgamated Australian Investment Group Limited (AAIG) (ABN: 81 140 208 288 Level 13, 130 Pitt Street, Sydney NSW 2000).

This article is provided for informational purpose only and does not purport to contain all matters relevant to any particular investment or financial instrument. Any market commentary in this communication is not intended to constitute “research” as defined by applicable regulations. Whilst information published on or accessed via this website is believed to be reliable, as far as permitted by law, we make no representations as to its ongoing availability, accuracy or completeness. Any quotes or prices used herein are current at the time of preparation. This document and its contents are proprietary information and products of our firm and may not be reproduced or otherwise disseminated in whole or in part without our written consent unless required to by judicial or administrative proceeding. The ultimate decision to proceed with any transaction rests solely with you. We are not acting as your advisor in relation to any information contained herein. Any projections are estimates only and may not be realised in the future.

ASR has no position in any of the stocks mentioned.

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