The big news for consumer finance company Wisr during the December half was the establishment of Wisr Warehouse Trust No1. The company says this will be its "go-forward loan funding source" and will improve the company's margin.The warehouse is backed by NAB and allows Wisr to move away from a predominantly off-balance sheet funding model. The warehouse has A$50 million of committed funding and is expandable to $200 million.Wisr says warehouse funding, which became operational on November 15, will triple its average margin when compared with previous loan unit economics.Under the warehouse model the trust is consolidated, which means that the gross yield of around 12.5 per cent is recognised as revenue.The company's other big news during the half was that it raised $33.5 million of equity capital which will be used to "accelerate the company's growth trajectory".The company, which started life as DirectMoney, has been lending since 2014. Over that time it has originated a modest total of $163.8 million of loans and at the end of December had a loan book worth just $114 million.Originations in the December quarter were $31.6 million - up from $23.2 million in the September quarter and $16.9 million in the December quarter 2018.To try and build up to serious scale the company is investing in new products (it has a secured car loan ready to be rolled out this year), new technology (an app) and the "Wisr Ecosystem", which "revolves around developing a platform to scale and grow through a unique combination of financial wellness products that complement its core lending business".Revenue for the December half was $2.2 million - up from $1.2 million in the previous corresponding period.However, almost every expense line doubled, tripled or quadrupled and the company reported a loss of $12.8 million, compared with a loss of $3.4 million in the previous corresponding period.The business suffered a cash outflow of $1.8 million from operating activities.The provision for expected credit losses blew out from $257,600 in the December 2018 half to $1.1 million in the latest half. Arrears (past due 90 days or more) were 1.5 per cent - down from 1.85 per cent in the previous corresponding period.Wisr's average loan is $26,447, with an average interest rate of 12.76 per cent. Borrowers are between 18 and 30 years of age, earn an average of $75,000 and have a credit score of 710.