SAN DIEGO & NEW YORK--(BUSINESS WIRE)--Applied Data Finance, LLC (ADF), a leading technology-enabled lender and asset manager, announced today that it closed an additional $17.8 million of equity financing as a follow-on to its July 2018 raise of $140 million of debt and equity capital.
Through its Personify Financial online lending platform, ADF provides unsecured, personal loans to consumers often overlooked by traditional financial institutions. This new capital will fuel ADF’s continued growth and allow the company to reach even more individuals in need of straightforward, affordable loans.
Founded in 2014, ADF has grown to 180 employees with offices in New York, San Diego and Chennai, India, and has originated over $150 million in loans, including over $40 million in Q4 of 2018.
“The capital raised in mid-2018 enabled us to rapidly scale our business while continuing to deliver industry leading performance. As a result, we are seeing additional interest in providing capital to continue expanding the business, and this is a great example of investor confidence in ADF,” said Krishna Gopinathan, Co-Founder and Chief Executive Officer at ADF.
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 and fraud risk. Learn more at www.applieddatafinance.com and www.personifyfinancial.com.