LendingPoint Announces $125 Million Advancement Expenditure from Warburg Pincus | Business enterprise
4 min readATLANTA–(Business WIRE)–Jan 14, 2021–
LendingPoint, a financial technological know-how system, these days introduced a $125 million desired fairness financial investment from Warburg Pincus, a foremost worldwide non-public equity agency focused on growth investing. LendingPoint will use the proceeds to expand its financing methods for its ecommerce, level of sale, and economic establishment partners and even further greatly enhance its data and technology system.
LendingPoint thinks every person warrants to truly feel the electric power of monetary prospects. The business employs info, technological know-how, and a scalable platform to supply installment bank loan alternatives to individuals and tiny company house owners who have asked for fiscal remedies specifically or via 1000’s of service provider partnerships and integrated ecommerce platforms. From its initial mortgage in 2015, through December 2020, LendingPoint has originated above $2.5 billion.
“We continue to build our system to provide entire world course financing and white label alternatives,” mentioned Tom Burnside, CEO & Co-Founder, LendingPoint. “We are thrilled to lover with Warburg Pincus as we keep on to make the investments in facts science and technology to greater serve our shoppers.”
Juan E. Tavares, Main Technique Officer & Co-Founder of LendingPoint continued, “As we refine and increase our products choices, our new partnership with Warburg Pincus will support us fulfill our intention of building a new class in economical expert services.”
Warburg Pincus has invested above $11 billion across the entire spectrum of the financial services landscape, together with insurance policy, banking, asset management, specialty finance, payments, and transaction processing. Jointly with the Warburg Pincus investment decision, LendingPoint has elevated much more than $325 million of equity to day.
“LendingPoint’s exclusive use of information and technology and very best-in-class lending platform has enabled it to scale fast by delivering financial remedies and excellent company to its growing shopper foundation,” stated Eric Friedman, Handling Director, Warburg Pincus. “We believe LendingPoint has sizeable alternatives for continued growth and are thrilled to partner with Tom and his management team to execute on these possibilities, make investments in new capabilities, and aid their customers.”
The Warburg Pincus financial commitment follows an remarkable 2020 for LendingPoint, who finished the year rewarding, shut its 10 th securitization transaction, released its SDKn platform, improved its level-of-sale merchant system, and partnered with a main world ecommerce system to provide tiny enterprise money to their sellers.
Rothschild & Co served as the unique fiscal advisor to LendingPoint in the transaction. Paul Hastings LLP served as the lawful advisor to LendingPoint. Wachtell, Lipton, Rosen & Katz served as the legal advisor to Warburg Pincus.
About LendingPoint
LendingPoint is a money technological know-how platform that provides funding origination solutions for its ecommerce and issue of sale partners, its lending institutions and to people. The company’s fraud avoidance, risk and asset management algorithms are utilized to produce financing options throughout the credit spectrum. Its LendingPoint Service provider Remedies platform delivers ecommerce platforms, retailers and other service companies completely integrated, one-cease obtain now, pay out later on financing options to change a lot more buyers.
For the previous two a long time, LendingPoint was named a single of Inc. 5000’s checklist of swiftest-expanding personal organizations, rating 17 th in 2019. LendingPoint rated 9th on Deloitte’s 2019 Engineering Rapid 500 and in 2020 was honored as one particular of the leading 40 quickest developing corporations in Atlanta by ACG. LendingPoint is a privately held company headquartered in Metro Atlanta, with places of work in New York.
About Warburg Pincus
Warburg Pincus LLC is a main global non-public equity organization targeted on development investing. The organization has much more than $56 billion in private equity property under management. The firm’s active portfolio of extra than 190 businesses is really diversified by phase, sector, and geography. Warburg Pincus is an knowledgeable partner to management groups looking for to create tough corporations with sustainable value. Founded in 1966, Warburg Pincus has raised 19 personal equity money, which have invested more than $86 billion in in excess of 910 providers in extra than 40 nations around the world. The company is headquartered in New York with workplaces in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For much more data be sure to stop by www.warburgpincus.com.
Look at source edition on businesswire.com:https://www.businesswire.com/information/property/20210114005235/en/
Speak to: Rachel Fiore, Just Generate Media
[email protected] McGrath Bloom, Warburg Pincus
Keyword: Ga UNITED STATES NORTH America
Sector Search term: Skilled Expert services FINANCE
Resource: LendingPoint
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PUB: 01/14/2021 06:00 AM/DISC: 01/14/2021 06:00 AM
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