Neo-lender raises 150% of capital goal

Funding infusion has lender better equipped to “disrupt” the traditional lending market

Neo-lender raises 150% of capital goal


By Madison Utley

Australia’s first neo-lender has raised $15m in capital, well beyond its $10m goal. 

Wisr has successfully completed placement of approximately 220 million shares thanks to strong support from institutional, sophisticated and professional investors.

CEO Anthony Nantes said, "The Wisr strategy and vision continues to be strongly supported as demonstrated by this placement, and the capital raise acknowledges the successful transformation of our business model and confidence in the truly unique range of innovative products and services we are launching."

The issue price is 6.8c per share, representing an 8% premium to the last traded share price on 25 March.

"We want to acknowledge the ongoing support of our existing shareholders that have participated in the placement, and welcome all new shareholders who will join the register as part of this capital raise,” said chairman John Nantes.

The additional capital will enable Wisr to continue to grow and create the “balance sheet robustness” needed to “disrupt the incumbents,” through providing consumers with a smarter and fairer option than traditional banking.

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