Thanks to Markeewan for this just wanted to add a few things:
WISR (WZR)
*** Chief Executive Officer Anthony Nantes stated:
‘Wisr continues to deliver innovative technology solutions that provides investors with access to an outstanding asset class. We are excited to complete this agreement with a company which has the history, knowledge and capability of Bendigo and Adelaide bank, as we continue to grow and target more opportunities.’
The Bendigo and Adelaide bank facility to fund consumer loans to be originated and serviced by Wisr will become operational in coming weeks. That was on the 31st of July, 2018.
Regards,
Ryan Clarkson-Ledward,
For money morning
***Wisr describes itself as “committed to developing strong and sustainable relationships with its broker partners” and has introduced new tech-enabled approaches to loan applications, digital document processing, streamlined loan approval and API integration.
Connective’s near 3,000 accredited brokers will be supported by Wisr’s BDM and broker support team, as well as the lender’s high-touch tech platforms, including the Wisr Broker Portal.Brent Starrenberg, Connective’s head of asset finance, said, “We are very pleased to welcome Wisr to the Connective platform. This is another example of how Connective offers its broker network access to industry leading lenders such as Wisr.”
More than 20% of brokers in Australia aggregate through Connective, which achieved loan settlement values in excess of $41.5bn in FY2017.
*** The App is actually fantastic. Super friendly user face and easy to navigate.
***IMO there will be an aggressive expansion in the next 3 months. Newsflow will come thick and fast.
WISR is using a Fintech approach with personal loan applications for consolidation of debt and small loans.
MCap~$26m
Cash on hand ~$1.5M
SOI 455M
Financial Analysis - Direct Money was originally floated at 15 cents in July 2015. The last capital raising was at 4.2 cents. Additional negotiated funding has now been obtained to service their loan applications (Bendigo and Adelaide Banks and 255 Finance). Seemingly the lack of initial funding is what has held them back so far.
With refreshed branding and the change of name from Direct Money (DM1) to (WZR) it seems like WISR are beginning to find their feet and although it has been slow to get going, it looks like a first target of 8 cents is now within reach.
A recent research report (Research as a Service)
examined growth rates for the P2P lending industry participants,(Lending Club, Ratesetter, SocietyOne) considers a base case target of WISR achieving the value of loans written by 2022 to be around $850M from the current estimated level of $25M. (previous forecast $20M)
The RaaS Research report was published in July 2018 and gives detail on the assumptions to achieve 12.6cps. The upside target is double that, if the additional revenue streams come on line as envisaged.
(20min delay)