Vervent Announces $80 Million Funding Partnership Led by Mesirow Alternative Credit to Expand Consumer Credit Card Programs

SAN DIEGO--(BUSINESS WIRE)--Vervent Inc., a fintech leader in the servicing space, today announced a forward flow agreement led by Mesirow Alternative Credit, a prominent independent financial services firm. The transaction will provide up to $80 million in funding over the next 12 months to support the origination of unsecured credit cards across Vervent's portfolio.

The strategic partnership will fuel expansion of Vervent's Revvi, Total Visa, First Access, and Total Select credit card programs, extending access to credit for underserved consumers seeking quality unsecured credit card options.

"Mesirow is pleased to continue supporting Vervent's efforts to deliver high-quality non-prime credit card programs," said Tim Reimink, Head of Asset Management at Mesirow Alternative Credit. "This partnership provides our investors with meaningful exposure to a compelling consumer credit opportunity."

"We are excited for this partnership which allows us to continue meeting the growing demand for full-service credit cards among non-prime consumers," said Joseph Noe, President of Vervent Card. "This strategic relationship reinforces our commitment to expanding access to credit while maintaining the operational discipline and risk management standards our partners expect."

About Vervent

Vervent is a fintech leader setting the global standard for outperformance by delivering superior expertise, future-built technology, and meaningful services. We support our partners with primary strategic services including Primary Loan and Lease Servicing, Backup Servicing and Capital Markets Services, eVault Solutions, Managed Services, and Credit Card Servicing. Vervent empowers companies to accelerate business, drive compliance, and maximize service. Contact us today at Vervent.com or [e-mail].

About Mesirow

Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with offices around the world, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Private Capital & Currency, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities and our culture.