Harmoney loan book grows 9% as intermediary channel debuts

Harmoney opened fiscal 2027 with its loan book up 9%, according to slides from the digital lender's first-quarter investor presentation, which also flagged the launch of an intermediary channel.

The company has built its business on unsecured personal lending in New Zealand and Australia, a segment where demand has been sensitive to household budgets and interest-rate settings. A 9% increase in the book suggests originations held up through the period, though the headline figure offers no detail on credit quality or margins.

The new intermediary channel marks a distribution shift. Such arrangements typically let brokers and other third parties introduce borrowers, giving a lender access to customers beyond its direct online funnel. For Harmoney, that could widen reach without matching spend on direct marketing, although it also brings commission costs and reliance on partner volumes.

The quarterly slides provide only a top-line view. Investors will want more colour on funding costs, arrears and the pace at which the intermediary pipeline converts into settled loans. For now, the update points to steady expansion rather than a change in strategy.