LendingPoint, a data and technology platform dedicated to democratizing credit and accelerating commerce, announced on Thursday it secured a $125 million growth investment from global private equity firm, Warburg Pincus. Founded in 2014, LendingPoint explained that it is committed to redefining who is able to access money at fair rates, and empowering consumers to build financial momentum.
“[LendingPoint] uses data, technology, and a scalable platform to deliver installment loan options to consumers and small business owners who have requested financial solutions directly or through thousands of merchant partnerships and integrated ecommerce platforms. From its first loan in 2015, through December 2020, LendingPoint has originated over $2.5 billion.”
Speaking about the investment, Tom Burnside, CEO and Co-Founder of LendingPoint, stated:
“We continue to build our platform to provide world class financing and white label solutions. We are thrilled to partner with Warburg Pincus as we continue to make the investments in data science and technology to better serve our customers.”
LendingPoint also shared the Warburg Pincus investment follows an “impressive” 2020 for the fintech, which notably ended the year profitable, closed its 10th securitization transaction, launched its SDKn platform, enhanced its point-of-sale merchant platform, and partnered with a leading global e-commerce platform to provide small business capital to their sellers.
LendingPoint added it will use the investment’s funds to expand its financing solutions for its e-commerce, point of sale, and financial institution partners and further enhance its data and technology platform. Rothschild & Co served as the exclusive financial advisor to LendingPoint in the transaction. Paul Hastings LLP served as the legal advisor to LendingPoint. Wachtell, Lipton, Rosen & Katz served as the legal advisor to Warburg Pincus.
Source: Crowdfund Insider
