Listed non-bank lender Wisr, has reported "continued strong loan growth and customer acquisition" in the first quarter of the 2019 financial year. Wisr was known as DirectMoney from its launch as a marketplace and P2P lender in March 2014 until a rebrand in March 2018.Between July and September 2019 the company saw its loan origination value grow by 49 per cent over the previous quarter, with a 22 per cent increase in overall loan volume - making this the third consecutive quarter for which Wisr has reported quarterly loan growth in excess of 45 per cent. The company also announced it had surpassed A$50 million in loan originations since beginning operations, almost half of which were written from the beginning of 2018. Wisr said technology upgrades had allowed it to lower the cost of borrowing for its customers, "to better predict the future financial behaviour of potential borrowers" and to "personalise" interest rates. For this, Wisr cited average creditworthiness scores for its borrowers of 712 in the September quarter, up from 675 in the same quarter last year.While cherry-picking the major banks' best personal loan prospects and undercutting credit card rates by up to 5 per cent is a typical fintech strategy, scale has so far eluded the company, setting itself for hoped-for growth and scale has come at a high cost.Wisr reported expenses of $7 million in FY2017, and $8 million in FY2018, mainly for employee recruitment, investment in research and development of new products and services, and marketing spend. This cash burn has generated reported losses of $5.4 million and $6.2 million in FY2017 and FY2018, on revenues of $1.2 million and $1.6 million, respectively.Nevertheless, Anthony Nantes, Wisr's chief executive officer, sounded a confident note in the company's 1Q18 commentary: "This is the beginning of borrower flight from the big banks. Findings from the royal commission into banking have prompted more Australians to look for better deals and a fairer, more transparent approach to financial services." "We continued to deliver consistently strong credit quality - exceeding the target for arrears and book performance and continued to attract more prime customers. Today Wisr customers have both higher income and credit scores than the national average," he said.The company, which voted to change its name back in February to take on a name with just one vowel, has a stated mission to make "financial wellness" one of its core principles.Its efforts have been noticed by millennials. Since the rebrand, along with the launch of a credit score comparison site in August, more than 43 per cent of Wisr's new customers have been young borrowers, aged under 35 years (up from the historical average of less than 20 per cent).