Neobank Wisr has appointed investment banker Matt Brown to its board as a non-executive director effective 13 September.
Brown – who joins the fintech from investment and corporate advisory firm Alluvion Capital - will also chair Wisr’s audit committee.
He brings years of experience in investment banking and technology both in Australia and the United States.
Brown’s previous roles include managing director at Macquarie Capital and finance director at LiveTiles, a global enterprise SaaS business.
He is also a non-executive director of Thinxtra, EncompaaS Software, and UpWire.
Wisr said Brown’s extensive experience in building and leading high-growth disruptive businesses would help support the evolution of Wisr into a profitable company of significant scale and impact in the Australian consumer finance market.
“His depth of experience and diverse background across finance, banking, and technology will be an important part of Wisr’s future as we continue to scale, exploring new markets, products, and growth opportunities.” said Wisr executive chairman, John Nantes.
Nantes said the company planned to add a further director, possibly two, who would also bring a greater level of diversity and experience to Wisr.
"Chief executive Anthony Nantes has built a strong executive under his leadership, and we wish to see this standard met throughout every part of the Group,” he said.
"We have a strong commitment to ensuring that continual improvement underscores every action we take. Matt joins our board, adding further skills and capability at a great time."
In recognition of the planned board expansion and considering the bench strength within the executive team, Nantes will move into the role of chair from 13 September 2021.
Commenting on the appointment Brown said, “Wisr is an exciting example of Australian fintech innovation that's driven by a real purpose-led approach.
“The disruptive business model that the team has created, which continues to take market share from the incumbents, is well on its way to becoming a highly profitable business as it continues to scale, and I am very much looking forward to contributing to that success.”
Wisr’s market cap has grown from around $17 million in early 2017 to over $360 million today.
Last month, the fintech delivered its 20th consecutive quarter of growth.
The company announced $123 million of new loans originated in 2021 fourth quarter - up 193 percent on the year ago same period.