LoanPro, a SaaS-based loan management, servicing and collections platform for alternative, fintech and traditional lenders, has raised a $100 million growth equity investment from FTV Capital, a sector-focused growth equity investor in innovative enterprise technology and services, financial services, and payments and transaction processing companies.
Through this capital raise, LoanPro will enhance its platform functionality, enter new lending verticals, and further invest in client-centric growth initiatives.
LoanPro has more than $15 billion of loans under management and over 600 clients across a diverse range of loan types and lending programs (eg prime, sub-prime, personal, consumer, auto, business, point-of-sale finance and buy now, pay later) in the United States and Canada. The software’s core API architecture allows for an automated and highly configurable workflow, real-time access to data and insights, frictionless payment collections, lending program flexibility (new and existing products) and a superior customer experience.
“As founders who started out as lenders, we understand the pain points that lenders experience,” says Rhett Roberts, co-founder and CEO of LoanPro. “LoanPro was built by lenders for lenders—we use a modern tech stack to simplify the user experience of managing loans—we do the hard work on the back end to make the front end clean and simple to use. FTV Capital’s investment, in addition to their extensive market knowledge and vast strategic network, will help us grow our platform and accelerate our ability to reach and successfully serve even more lenders.”
