Thrive Financial Inc., (“Thrive”) a Virginia-based technology platform for point-of-sale financing of home improvement projects, connecting homeowners, merchants and lenders nationally, announced that it has upsized its financing facility with Macquarie Group (“Macquarie”).
The upsized financing facility increases Thrive’s borrowing capacity, as it provides additional capital to support the company’s continued expansion and the forward flow agreements Thrive has in place.
“Macquarie has been a fantastic partner thus far, and Thrive is excited to deepen our relationship as we build a modern home improvement lending platform,” Jasjeev Sawhney, CEO and co-founder of Thrive, said. “Increasing our borrowing capacity is a logical next step as Thrive implements solutions to support our merchant partners and serve homeowners with efficient, technology driven financing solutions.”
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Macquarie’s New York-based Fixed Income and Currencies team, part of the company’s Commodities and Global Markets business, provided the financing for this transaction.
“We are pleased to support Thrive with this upsized financing facility. This expanded facility reflects Macquarie’s ability to structure financing solutions across a range of asset classes to drive growth,” said Eli Nafisi, senior managing director in Macquarie Group’s Commodities and Global Markets business. “We look forward to supporting Thrive expand its origination and lending capabilities.”
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