ATLANTA--(BUSINESS WIRE)--The financial technology platform LendingPoint, today announced the closing of a $900 million, three-and-a-half-year forward flow committed purchase program with a notable asset management firm partner.
This is the company’s largest and longest-term committed forward flow program to date in terms of the volume of assets to be originated and sold by LendingPoint.
“This deal illustrates the high level of confidence our financial institution and asset management partners have in the LendingPoint underwriting model,” said Tom Burnside, CEO and co-founder of LendingPoint.
This announcement comes at a time of major growth for the company, following a record 75% year-over-year increase in revenue in 2022. Notably, LendingPoint has driven over $8.7 billion in loan originations since 2015 and garnered an exceptional NPS of 86, with a repeat customer base of over 30%.
“Our strategy is to stay hyper-focused on ensuring that we have the right programs in place for our customers that create financial flexibility and a great customer experience no matter where they are in their financial journey,” continued Burnside. “This program will help us further deliver the power of financial possibility for consumers and businesses alike.”
LendingPoint is an AI-driven CreditTech platform that provides financing origination solutions to consumers, e-commerce and point of sale partners, and lending institutions. The company’s fraud prevention, risk and asset management algorithms are used to create financing opportunities across the credit spectrum. Its LendingPoint Merchant Solutions platform provides e-commerce platforms, merchants, and other service providers with fully integrated, one-stop financing solutions to convert more customers.
For the past four years, LendingPoint has been named to the Inc. 5000 list of fastest-growing private companies, ranking 17th in 2019. LendingPoint ranked on Deloitte’s Technology Fast 500 list in 2019, 2020, 2021, and 2022 and was honored as one of the top 40 fastest-growing companies in Atlanta by the ACG in 2019 - 2023. LendingPoint also was named one of the 2021 Best Places to Work by the Atlanta Business Chronicle. LendingPoint is a privately held company headquartered in metro Atlanta, with offices in San Francisco, New York, Chicago, Dallas, and Miami. LendingPoint, LLC owns and operates the LendingPoint platform.