Park Cities Asset Management, LLC (“Park Cities”), an alternative investment firm focused on providing flexible debt solutions, announced that it has provided $30 million of debt capital commitments to Applied Data Finance (“ADF”). Through its Personify Financial platform, ADF offers underestimated Americans an affordable, responsible alternative for unsecured personal installment loans.
Latest Fintech Insights : Goldman Sachs Asset Management and Cleanhill Partners Acquire Majority Stake in EPC Power Corp.
“With the flexible financing provided by Park Cities, we look forward to continuing to grow by responsibly connecting consumers with capital.”
“We are pleased to provide this capital commitment to ADF and support the growth of ADF’s consumer loan portfolio,” said Alex Dunev, Managing Partner at Park Cities. “This investment reflects Park Cities’ confidence in ADF’s ability to serve the underestimated while providing an opportunity to work with a pioneer in the specialty finance lending industry.”
Read More About Fintech News : Modern Treasury and Goldman Sachs Partner to Provide Integrated Software and Payments to Corporate Customers
The financing was in addition to the company’s existing facility as ADF continues to provide consumers with credit using its own balance sheet. ADF will use the Park Cities capital commitment to continue to scale its successful Personify Financial online lending platform.
“At ADF, we aim to better meet the financial needs of underestimated Americans across the credit spectrum through our mastery of cutting-edge data science and technology and our commitment to mutual success,” said Krishna Gopinathan, Founder, Chief Executive Officer at ADF. “With the flexible financing provided by Park Cities, we look forward to continuing to grow by responsibly connecting consumers with capital.”
Browse The Complete News About Fintech : Counterpart Launches AI-Powered Crime Coverage For Small Businesses Backed by Aspen Insurance
[To share your insights with us, please write to sghosh@martechseries.com]
