Applied Data Finance Announces $250 Million Forward Flow Program with Axar Capital and affiliated companies

SAN DIEGO--(BUSINESS WIRE)--Applied Data Finance, LLC (ADF), which operates a leading technology-enabled consumer lending platform, today announced a five-year $250 million forward flow agreement with Axar Capital Management LP and its funds/affiliates.

Under the terms of the agreement, installment loans originated by ADF’s bank partner on the ADF platform will be sold to Axar and serviced by ADF. This arrangement will provide ADF with new capital to grow its business and Axar with high-quality assets.

The agreement diversifies ADF’s liquidity sources, creating more opportunity to grow its business while efficiently managing its balance sheet. This allows further investments in ADF’s state-of-the-art digital technology platform and advanced data-science capabilities.

“We are thrilled to partner with Axar and its affiliates on ADF’s first forward flow program. This validates the strength of our team and our advanced technology,” said ADF Co-Founder and CEO Krishna Gopinathan.

“With this five-year, $250 million, forward flow commitment, we are excited to partner with ADF,” said Grant Mitchell, Head of Research of Axar Capital Management. “We believe ADF’s cutting-edge analytical approach will produce excellent risk-adjusted returns, and we look forward to our partnership.”

About Applied Data Finance, LLC

ADF, through its Personify Financial brand, is the trusted financial partner for tens of thousands of underestimated and under-banked Americans. 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 near-prime and non-prime borrower credit and fraud risk. Learn more at www.applieddatafinance.com and www.personifyfinancial.com.

About Axar Capital Management LP

Axar Capital Management LP is a value-oriented investment firm focused on highly flexible, opportunistic investing in the corporate middle market. Axar's investment team focuses on opportunities across the capital structure in complex situations as a provider of debt and equity solutions that allow its management teams and portfolio companies to realize their long-term value potential. For more information, please go to www.axarcapital.com.