Plenti

About Plenti

Plenti is a fintech lender that provides faster, fairer loans to borrowers through leveraging its smart technology and outstanding customer service. Plenti’s proprietary technology delivers award-winning automotive, renewable energy and personal loans to help creditworthy borrowers bring their big ideas to life.

Since establishment in 2014, Plenti has sought to develop its business through a focus on 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. This facilitates deeper partner integration, superior customer experience, more efficient operations and a more agile business model.
• Credit strength. Plenti is focused on lending to prime borrowers across each of its lending verticals, as evident by its exceptional credit track record.
• Diversified products and distribution channels. Plenti’s three major loan products and multiple distribution channels have underpinned its exceptional growth and provide it with a broad market opportunity set and 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.

SIZE OF LOAN BOOK A$1.4BN
MAKEUP OF LOAN BOOK

PRIME AUTOMOTIVE LOANS: 58%
PERSONAL LOANS: 31%
RENEWABLE ENERGY LOANS: 11%

GEOGRAPHIC DISTRIBUTION OF LOAN BOOK

AUSTRALIA: 100%

OUTSTANDING DEBT ISSUANCE

ABS ISSUANCE: ~A$810M
WAREHOUSE FACILITIES: ~A$400M
PLENTI LENDING PLATFORMS: ~A$230M

Plenti has grown to become one of Australia’s leading fintech lenders, having funded more than A$2.6 billion in loans and with a current loan book of A$1.4 billion. FY22 was a landmark year for the business with its originations growing by 134%, its loan portfolio growing by 111% and the business moving to being profitable.

Plenti completed its debut ABS transaction in August 2021 and has since completed two further ABS deals. In total, Plenti has now completed more than A$1 billion of issuance across auto, renewable energy and personal loans, and it is set to be a programmatic issuer in each vertical.

Asset performance

Plenti’s credit performance has been exceptional, with very low arrears and loss rates. Over the June 2022 quarter, annualised net losses were 57 basis points and 90-plus day arrears 31 basis points, reflecting the prime and high credit quality nature of borrowers. Plenti’s customers had a weighted average Equifax credit score of 837 at the end of the quarter.

Ownership

Plenti has been an ASX-listed company since September 2020, with the founders and senior executives holding about 30% of shares on issue. Plenti employs around 200 staff with offices in Sydney and Adelaide, and a nationwide sales force.

Ownership

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, in line with the company’s strategy to grow in this area.

Plenti is committed to continuing to build out its ABS issuance programme as part of its strategy to ensure it maintains deep, diversified and resilient funding.

FOR FURTHER INFORMATION PLEASE CONTACT:

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