Wisr Expands Lending Portfolio with Secured Motorcycle Loans
Sydney, Australia – December 4, 2024 – Wisr, the Australian fintech lender, has today announced the launch of secured motorcycle loans, broadening its product offering and targeting a growing segment of the vehicle finance market. The new loans will be available through Wisr’s broker network and direct-to-consumer channels,offering competitive rates and a streamlined application process.
This expansion comes as demand for motorcycles continues to rise across Australia, fueled by factors including commuting convenience, recreational use, and increasing fuel costs. Wisr aims to capture a portion of this market by providing a flexible and accessible financing option for motorcycle purchases, complementing its existing personal and car loan products. The move signifies Wisr’s commitment to diversifying its lending portfolio and strengthening its position within the broader automotive finance landscape.
Wisr’s secured motorcycle loans will finance both new and used motorcycles, with loan amounts ranging from $5,000 to $50,000. The loans feature fixed interest rates and repayment terms of up to five years. The company highlighted its technology-driven platform as a key differentiator, enabling faster approvals and a more transparent customer experience.
“We’re excited to add secured motorcycle loans to our suite of products, providing our brokers and customers with even more choice,” said a Wisr representative. “Motorcycles are a popular transport option for many Australians, and we believe there’s a significant opportunity to deliver a superior lending experience in this segment.”
The launch of thes loans builds on Wisr’s recent growth trajectory, following a period of strategic investment in its technology and distribution network. The company continues to focus on leveraging data and analytics to improve its risk assessment capabilities and deliver competitive loan products. Wisr’s shares were trading at $1.85 at close of market today.
