Enova International, a leading financial technology company powered by machine learning and artificial intelligence, announced that during March the company closed $235 million of additional capacity across all four of its existing consumer and small business securitization warehouse facilities.
“Our ability to increase the capacity in each of our existing committed facilities at the same attractive terms reflects the strength of our partnerships with our bank lenders as well as the solid credit performance of our portfolio,” said Steve Cunningham, CFO of Enova. “The expansion of these facilities further enhances our solid liquidity profile and will support growth in both our consumer and small business products as we move into periods of seasonally higher demand from our customers.”
Latest Fintech News: Dapio Raises $3.4 Million to Bring ‘Tap to Pay’ to Android Users in UK and Europe
In addition to cash and marketable securities of approximately $200 million, Enova expects to end the first quarter with approximately $400 million in capacity on its committed securitization facilities and secured corporate revolver.
Latest Fintech News: Vertical Relevance Achieves AWS Financial Services Competency Status
About Enova
Enova International is a leading financial technology company providing online financial services through its artificial intelligence and machine learning powered lending platform. Enova serves the needs of non-prime consumers and small businesses, who are frequently underserved by traditional banks. Enova has provided more than 7 million customers with over $40 billion in loans and financing with market leading products that provide a path for them to improve their financial health.
Latest Fintech News: Natixis CIB Partners With nCino to Expand Its Digital Capabilities in Its Financing Activities
