Wisr

Wisr (ASX: WZR) is an Australian non-bank lender[1] offering consumer lending services. It was known for being the first company of its type to be publicly listed in Australia. In March 2018, DirectMoney launched a major company re brand to Wisr following its official name change from DirectMoney.[2]

Wisr
FoundedAustralia (2006)
FounderDavid Doust
Headquarters
Sydney
,
Australia
Area served
Australia
Key people
Anthony Nantes, John Nantes
ProductsFinancial services
Number of employees
120
Websitehttps://www.wisr.com.au/

History

The company began operating in October 2014, and had originated $6m in personal loans by March 2015.[3] Seed funding of $500,000 was provided by Eaglewood Capital Management and Liberum in May 2014.[4]

Initial funding of loans came through wholesale investment raising, with retail investors being allowed to invest in the platform in late May 2015 from a minimum amount of $50,000.[5][6]

From 9th of August 2017 DirectMoney's funding model changed from its original Peer-to-Peer model to a wholesale funding model.[7]

On 15 June 2020, it was proposed that the DirectMoney Personal Loan Fund (ARSN 602 325 628) would be wound up on or before 30 June 2020.[8] The Fund was wound up on 30 June 2020 with capital being returned to investors.

Listing

On 13 July 2015 Wisr listed on the Australian Securities Exchange through a reverse takeover of Basper Ltd, raising $AU11.2m at 20c per share.[9]

See also

References
  1. "Wisr than the big banks?". The Eureka Report. Retrieved 14 August 2019.
  2. "asx.com.au/asxpdf/20150713/pdf/42zs1pbn2xlt2q.pdf" (PDF). Australian Stock Exchange. Retrieved 14 July 2015.
  3. "Peer-to-peer lender DirectMoney set to list on ASX". The Australian. Retrieved 10 July 2015.
  4. "Banking disrupter Stephen Porges to lead P2P lender DirectMoney". Sydney Morning Herald. Retrieved 10 July 2015.
  5. "Peer-to-peer lender DirectMoney set to list on ASX". The Australian. Retrieved 10 July 2015.
  6. "DirectMoney Launches Retail Fund". Alt Fi. Retrieved 10 July 2015.
  7. "DirectMoney closes funding deal" (PDF). ASX. Retrieved 9 August 2017.
  8. "Proposed Winding-up of DirectMoney Personal Loan Fund" (PDF). One Investment Group. Retrieved 1 July 2020.
  9. "DirectMoney float price falls after initial spike". The Age. Retrieved 14 July 2015.
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