PLENTI

Plenti is a technology-led lender that provides awardwinning automotive, renewable energy and personal loans to creditworthy borrowers. Its mission is to build Australia’s best lender.

Since its establishment in 2014, Plenti has developed four key strengths:
• Proprietary technology. Plenti owns and develops its own end-to-end technology platform covering origination, credit assessment, loan servicing and funding management. Technology ownership allows Plenti to operate with speed and agility, provide leading customer experiences, build deep partner integrations (with Tesla, for instance), and operate with efficiency.

• Credit capabilities. Plenti is focused on lending to prime borrowers, as evidenced by the strength and consistency of its credit track record. It also leverages its technology foundations to support the speed and accuracy of its credit and loan pricing decisions.

• Diversified products and distribution channels. Plenti’s three major loan products and multiple distribution channels have underpinned its exceptional growth and support its resilience in different market environments.

• Diversified funding. Plenti funds through ABS transactions, warehouse facilities and two unique marketplace platforms that allow direct loan investments by retail and wholesale investors.

Plenti has grown to become one of Australia’s leading fintech lenders, having funded more than A$4 billion in loans and with a current loan book of A$1.9 billion. FY23 was a strong year for the business with the loan portfolio growing by 36%, revenue growing by 62% and cash profit increasing materially.

Plenti completed two ABS deals in calendar 2023. In total, Plenti has now issued five ABS for more than A$1.7 billion of issuance across auto, renewable energy and personal loans, and it is set to be a programmatic issuer in each vertical.

Plenti’s credit performance continues to be strong, with low loss rates and arrears. Annualised net losses were 67 basis points in FY23. At the end of August 2023, the weighted average Equifax credit score of Plenti’s borrowers was 830, and 90-plus day arrears remained low at 46 basis points.

Plenti has been an ASX-listed company since September 2020. The founders and senior executives hold a significant proportion of the shares on issue. Plenti employs around 240 staff with offices in Sydney and Adelaide, and a nationwide sales force.

Plenti benefits from diversified funding sources across warehouse facilities, ABS transactions and its unique retail and wholesale “whole loan” investor platforms. Plenti currently has three warehouses supported by large domestic and international financiers. One warehouse has a specific focus on the funding of electric vehicles, consistent with the company’s strategy to grow in this area.

Plenti is now has a well-established ABS issuance programme, which forms an important part of its strategy of ensuring it maintains deep, diversified and resilient funding.

Miles Drury
Chief Financial Officer
+61 413 872 251
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Paolo Luzzani
Treasurer
+61 411 219 621
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www.plenti.com.au