Plenti chief executive Daniel Foggo says the sector is “coming of age” after the fintech lender achieved a cash net profit for the first time and its consumer loan portfolio swelled to more than $1 billion.
Plenti’s quarterly loan originations hit a record $307.6 million in the quarter to December 31, up 135 per cent on the prior corresponding period and 20 per cent compared with the September quarter. Its overall loan portfolio reached $1.1 billion, up 118 per cent year on year and 21 per cent on the previous quarter.
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Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
