Fintech lender Wisr's loan book is growing, as Australia's non-bank sector continues to take market share.
Sydney-based Wisr reported a 23% rise in the value of its loan book to $928.5 million, up from $756.8 million in the first half of 2026's financial year, or the six months ending 31 December 2025. The growth was driven by a surge in originations. Total originations were up 82% to $311 million, compared with $170.8 million a year ago. Personal loan originations, meanwhile, also surged, up 83% during the period to nearly $199 million, compared with roughly $109 million the year before. Secured loan originations soared 81% to $112.1 million, up from $62.1 million the year before.
"The results delivered represent a fundamental business turnaround over the last 18 months," said Wisr Chief Executive Officer Andrew Goodwin. "The foundations are now very much in place to expand."
Wisr's results are another example of ongoing strength in Australia's non-bank sector, as major banks continue to tighten credit settings and dial back risk appetite. In recent years, while the traditional banks have concentrated on prime borrowers and home lending, non-banks have stepped in to service customers who fall outside those parameters, including expats and the self-employed. That shift has also created room for specialist non-bank lenders to expand in unsecured segments, as well as specialist lending, such as asset finance and car loans.
"The non-bank sector in Australia has been growing consecutively for many, many years," Roberto Sanz, general manager of sales and partnerships at non-bank Prospa, told Australian Broker. His firm, which specialises in small-to-medium-size enterprise (SME) business lending, recently surpassed $5 billion in funding.
"The value proposition that alternative lenders in the non-bank sector delivers to the market is actually being well received by business owners, and also particularly for the broker segment," he continued. "One of the key value propositions from alternative lenders, it comes down to flexibility and speed. We are more flexible, we tend to understand businesses further and understand their particular or unique needs, and at the same time, we move much, much faster. So there is a value for businesses when they are in need of funding, knowing that they can access funding within 24 hours. That can help them overcome challenges and also realize opportunities that if they didn't have that access to funding that fast, they wouldn't be able to realize it at all."
While estimates vary depending on the source, most place non-bank lenders at roughly 10% of Australia’s overall lending market.
"So that's a 10% opportunity," said Shannon Weaver, chief executive officer of boutique mortgage brokerage Australian Finance 360.
Brokers who understand the full lending landscape will be better positioned to navigate an increasingly complex and changing landscape.
