I've been a long term investor through the ratesetter / plenti...

I've been a long term investor through the ratesetter / plenti platform. Always been happy with the results.

I also work in fin services - credit so have had quite a bit of exposure to plenti and competitors.

There's been criticism of them recently because of their implimentation of a maximum investment rate. While this does suck for investors, it's better for the company. What it is doing is making investors compete against instutional investors. Why borrow money directly from the public at 8% if they can borrow from a bank(or alternative) at 6.5%?

Plenti has always been at the top end of the market with regards to credit criteria. They are extremely picky with who they approve. Compared to Wisr (probably the closest comparison on the asx), Plenti's loan book would be a much better credit quality.

With regards to customer acquisition, a major shareholder is the carsales network / stratton finance. They can always leverage that connection to obtain leads if required.

Wizr's loan book is currently ~$160m with a market cap of $220m. Plenti will open with a mcap of $280m with a loan book of ~$400m.