New deal follows record growth for the company, expands LendingPoint’s forward flow program and origination capacity
The financial technology platform LendingPoint, announced the closing of a $900 million, three-and-a-half-year forward flow committed purchase program with a notable asset management firm partner.
“Our strategy is to stay hyper-focused on ensuring that we have the right programs in place for our customers that create financial flexibility and a great customer experience no matter where they are in their financial journey”
This is the company’s largest and longest-term committed forward flow program to date in terms of the volume of assets to be originated and sold by LendingPoint.
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“This deal illustrates the high level of confidence our financial institution and asset management partners have in the LendingPoint underwriting model,” said Tom Burnside, CEO and co-founder of LendingPoint.
This announcement comes at a time of major growth for the company, following a record 75% year-over-year increase in revenue in 2022. Notably, LendingPoint has driven over $8.7 billion in loan originations since 2015 and garnered an exceptional NPS of 86, with a repeat customer base of over 30%.
“Our strategy is to stay hyper-focused on ensuring that we have the right programs in place for our customers that create financial flexibility and a great customer experience no matter where they are in their financial journey,” continued Burnside. “This program will help us further deliver the power of financial possibility for consumers and businesses alike.”
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About LendingPoint
LendingPoint is an AI-driven CreditTech platform that provides financing origination solutions to consumers, e-commerce and point of sale partners, and lending institutions. The company’s fraud prevention, risk and asset management algorithms are used to create financing opportunities across the credit spectrum. Its LendingPoint Merchant Solutions platform provides e-commerce platforms, merchants, and other service providers with fully integrated, one-stop financing solutions to convert more customers.
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