KENNESAW, Ga.--(BUSINESS WIRE)--A leading Atlanta-based FinTech direct loan provider today announced signing an additional credit facility for $5 million of incremental financing with Aeterna Capital Partners. This new announcement comes on the heels of the recent funding capacity up to $100 million with funds managed by Ares Management. With such robust funding, LendingPoint is solidly on the path to further its mission to help fair credit consumers unlock access to affordable loans.
The momentum LendingPoint is building in the FinTech direct loan space is striking. Not only has the company significantly expanded operations in its first year in business, it has become the leading industry innovator with its proprietary scoring model, next-generation technology, quick loan approval process, and focused customer experience.
Tom Burnside CEO, of LendingPoint says, “This next wave of funding shows our process and people are really making a mark in the underserved credit marketplace. Not only will this additional capital help even more fair credit consumers get better loans, it assures our nationwide expansion, making loans available to more than 50 percent of the U.S. population by the end of the year.”
Patrick McCloskey, Managing Partner, Aeterna Capital Partners, says “We’ve been looking to enter the consumer credit sector and are excited by the opportunity to partner with the LendingPoint team. The industry continues to evolve and LendingPoint has been very deliberate in not only establishing their capital base, but also building best-of-class infrastructure to compete for the long haul.”
Luke Graham, LendingPoint’s Chief Financial Officer says, “There is no question that family office sourced capital is playing a larger role in private capital markets. This is an important development for businesses like ours, and Aeterna Capital is at the forefront of this trend.”
Atlanta-based LendingPoint, a leading FinTech direct loan provider, is on a mission to create a fairer lending environment by helping fair credit consumers unlock access to affordable loans. Their award-winning leadership team holds intellectual patents for unique data modeling and credit scoring.
Aeterna Capital Partners is a family office backed private investment firm focused on direct lower middle market investments, including private equity and debt. They seek to invest in businesses through flexible structures tailored to meet the objectives of a company’s stakeholders.