DALLAS--(BUSINESS WIRE)--Redpoint Capital Group, LLC (“Redpoint”), an alternative credit manager focused on providing financing solutions to companies across an array of industries, announced today it has provided over $20 million of incremental financing to Applied Data Finance (“ADF”). Through its Personify Financial platform, ADF provides underestimated and under-banked consumers with an affordable alternative for unsecured personal installment loans.
“We are pleased to work in conjunction with Victory Park Capital to support the growth of ADF’s consumer loan portfolio,” said Alex Dunev, Managing Partner at Redpoint. “This investment reflects Redpoint’s confidence in ADF’s ability to serve the under-banked while providing an opportunity to work with a pioneer in the specialty finance lending industry.”
The financing was in addition to the company’s existing facility as ADF continues to provide consumers with credit using its own balance sheet. ADF will use the added debt to continue to scale its successful Personify Financial online lending platform.
“ADF continues to serve more and more underestimated consumers with responsible products,” said Krishna Gopinathan, Founder, Chief Executive Officer at ADF. “With the flexible financing provided by Redpoint, we are looking forward to strong 2018 performance and further fulfilling our mission to be the optimal link between capital and consumers.”
About Redpoint Capital
Redpoint Capital Group, LLC is an alternative credit manager focused on managing and deploying capital into Specialty Finance and FinTech markets through asset-based financings. Redpoint delivers attractive risk-adjusted returns to its clients through privately negotiated debt transactions with companies across a wide array of industries. Our firm is managed by senior executives with decades of experience operating finance companies, investing capital as lenders and investors, and advising companies across capital markets activities.
About Applied Data Finance
ADF, through its Personify Financial brand, is the trusted financial partner for thousands of underestimated under-banked consumers. Combining state-of-the-art technology and world-class application of advanced data science and machine learning, ADF is setting a new standard for assessing non-prime borrower credit risk.