Fintech attributes result to key broker, corporate partner, direct customer partnerships
Plenti has notched its fourth consecutive record quarter of loan originations, reporting $475 million in volumes for the three months ending 30 September.
The ASX-listed personal loan fintech increased its loan portfolio to $2.83 billion, representing a 24% year-on-year increase.
Plenti saw continued growth in its ‘NAB powered by Plenti’ car loan product, which saw daily originations surge 23% on the previous quarter. That portfolio now stands at $66.7 million.
The group also saw record quarterly renewable energy loan originations of $57 million, up 28% year on year. Labor’s Cheaper Home Batteries Program supported these volumes.
Chief executive Adam Bennett said he was “extremely pleased with how we’ve worked closely with our key brokers, corporate partners and direct customers to provide faster and fairer loans”.
“Our focus on differentiation through our technology, relationships and distribution breadth as well as operational execution across our product verticals of automotive, renewable and personal loans, continues to deliver for our customers and drive our growth,” added Bennett.
Plenti is targeting a $3 billion loan book by the end of its financial year scheduled for 31 March, 2026. Achieving this would make for a near doubling of Plenti’s loan book from September 2022.
“This result gives us a great foundation to build on,” said Bennett.
