FORT WORTH, Texas--(BUSINESS WIRE)--Elevate Credit, Inc., a leading tech-enabled provider of innovative and responsible online credit solutions for non-prime consumers, today announced that it has joined the Russell 2000 index, effective Friday, June 23, 2017. The Russell 2000 index serves as a benchmark for small-cap stocks and mutual funds in the U.S. and holds a weighted average market capitalization of $1.3 billion.
“We are pleased to be included in this listing of important small-cap U.S. companies,” said Ken Rees, CEO of Elevate. “This is an important milestone for us as we generate increased visibility among the investment community and continue to execute on our broader strategy for Elevate as a public company.”
The Russell 2000 is part of a group of U.S. indexes created by FTSE Russell, against which $8.5 trillion in assets are benchmarked. It is widely considered to be the most reliable index for measuring the performance of small-cap U.S. stocks. The index, which is reconstituted each June, includes a variety of high-performing growth stocks across industry verticals.
Elevate (NYSE: ELVT) has originated $4 billion in credit to more than 1.6 million non-prime consumers to date. Its responsible, tech-enabled online credit solutions provide immediate relief to customers today and help them build a brighter financial future. The company is committed to rewarding borrowers’ good financial behavior with features like interest rates that can go down over time, free financial training and free credit monitoring. Elevate’s suite of groundbreaking credit products includes RISE, Elastic and Sunny. For more information, please visit http://www.elevate.com.
About FTSE Russell
FTSE Russell is a leading global index provider creating and managing a wide range of indexes, data and analytic solutions to meet client needs across asset classes, style and strategies. Covering 98% of the investable market, FTSE Russell indexes offer a true picture of global markets, combined with the specialist knowledge gained from developing local benchmarks around the world.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $12.5 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create investment funds, ETFs, structured products and index-based derivatives. FTSE Russell indexes also provide clients with tools for asset allocation, investment strategy analysis and risk management.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on index innovation and customer partnership applying the highest industry standards and embracing the IOSCO Principles. FTSE Russell is wholly owned by London Stock Exchange Group.