Neo-lender Wisr soars 13% after strong Q1FY20

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Wisr (ASX:WZR) shares have soared 13 per cent to a two-month high after the neo-lender announced new loan originations were up 47 per cent in the September quarter.

Wisr said it loaned $61.9 million in the three months to September 30, up from $42.2 million in the June quarter and up 166 per cent from a year ago.

The online lending platform has now loaned $306.7 million since its inception three years ago.

“We have an unblemished record of delivering quarter-on-quarter growth, and it’s pleasing to see that growth accelerating,” Wisr chief executive Anthony Nantes.

“Delivering consistent quarter-on-quarter new loan growth throughout COVID-19, combined with the quality of customers we’re attracting, is a strong validation of our business model, consumer proposition and technology platform.”

Shortly before noon, Wisr shares were up 13.5 per cent to 21c. That’s up from 16c at the start of the year, but still well off their August highs of 27c.