Wisr directs business to Bendigo
Australian marketplace lender Wisr Limited has entered into a A$25 million wholesale funding agreement with Bendigo and Adelaide Bank, Australia's fifth-largest retail bank. Wisr, known as Direct Money when the company listed on the ASX in 2015, was the first fintech to do so. The company provides a platform to facilitate loans between funder investors and consumer borrowers. This new facility with BEN will fund "existing and future loans and increase Wisr's consumer loan book capacity, as well as improving the opportunity for revenue generation and operational performance," Wisr stated. It will become fully operational "in the coming weeks", according to Wisr. The fintech has previously raised funds by selling loans it originated, or equity.