Wisr offers small to medium loans to help consumers pay down debt at rates based on borrowers’ individual risk profile. The five-year old company also operates a credit score comparison service.

The firm says it will use the proceeds of the placement to grow its credit product offerings and strengthen the balance sheet.

Anthony Nantes, CEO of Wisr says: “We are very pleased with the strong support we have received for the capital raise. The result is a clear validation of Wisr’s strategy and vision to provide Australians with a smarter, fairer alternative when it comes to their personal finances, and our approach to redefining what a consumer lending company can be.”