Consumer finance company Wisr has increased its NAB-backed warehouse facility from an initial A$50 million, when it went live in November last year, to $250 million.

The company originated $61.9 million of loans in the September quarter – a 47 per cent increase over the June quarter. Revenue for the quarter was $4.1 million – a threefold increase over the previous corresponding period.

Wisr chief executive Anthony Nantes said in a statement that recent growth in the business was a “step change” and the increased warehouse funding would allow the company to maintain its growth.

The warehouse is backed by NAB and includes a $30.8 million investment from the Australian Office of Financial Management’s Structured Finance Support Fund.

The company reported that its 90-day arrears in the quarter were 1.01 per cent, compared with 1.44 per cent in the June quarter.

Eighty-nine per cent of customers on COVID-related repayment assistance had resumed payments at September 30, when 2.2 per cent of the portfolio balance remained on deferral.

To try and build up to serious scale the company is investing in new products, new technology (an app) and the “Wisr Ecosystem”, which “revolves around developing a platform to scale and grow through a unique combination of financial wellness products that complement its core lending business.”

It launched a secured vehicle loan last month.