Why the WISR Ltd (ASX:WZR) share price is racing higher today

The WISR Ltd (ASX: WZR) share price is racing higher today following a substantial increase on its warehouse funding facility. During mid-morning trade, the neo-lender’s shares are up 5.2% to 20 cents.

Let’s take a closer look and see what Wisr updated the ASX market with.

More room for growth

The Wisr share price is on the move as investors appear upbeat about the company’s additional funding.

In its announcement, Wisr advised that it has been secured an increased warehouse funding facility of $350 million. This comes on the back of a strong second quarter for FY21 which the company delivered a surprise result in late January.

New loan originations grew to $83.8 million for the period (Q2 FY21). This represented a 35% rise…