You guys are so cynical you can’t ever research it properly. This was announced end of the year. The deal with NAB is why it’s suddenly being tipped everywhere as having huge potential for 2020 (which no doubt brought you here).
”Can you tell me about the financial metrics and NAB's commitment to fintech?”
Anthony Nantes: From a margin point of view, it's one of the reasons why it is so pivotal for the company. We're going from a fairly thin margin model where we were moving most of the risk and return off our balance sheet in terms of our lending book and bring that on-balance sheet and as a result, getting access to that full margin ourselves. We talk about on average it's going to be more than a tripling of margin for the company going forward. And it really sets us up to scale and grow significantly over the next couple of years. NAB's shown an incredible commitment right across Australia in funding, good early stage fintechs. And there's great examples on market where NAB's gotten involved early, provided access to capital like this, and we've seen the result of those types of companies where it's a Zip (ASX:Z1P) or an Afterpay (ASX:APT) or others where that access to capital provided by NAB has really helped scale those companies significantly.
no one said tripling profit $. It says tripling margin - from 2% to 6%. This has the potential to not only make profit, but scale very quickly at the rate they are growing. Z1P $1.3b, APT $7.9b, Wzr $160m. Still think there is no upside?
WZR Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
