Consumer finance company Wisr has launched a share placement to raise A$50 million, which it will use to pursue what it describes as “significant growth opportunities”.
The fully underwritten institutional placement is priced at 25 cents a share – a 22 per cent discount to the company’s closing price on the ASX on May 28.
In an investor presentation, the company said it would launch a new product, a secured loan, in September and is looking at opportunities overseas.
In March, Wisr announced that it had invested in Arbor, a European “financial wellness fintech platform”.
Wisr has also been active on the funding side of the business this year. Earlier this month it priced its first issue of asset-backed securities, raising $225 million.
And in March, its warehouse funding facility was increased from $250 million to $350 million.
In the six months to December, Wisr originated $145.7 million of loans, an increase of 166 per cent over the previous corresponding period. The loan book was $274.2 million.