LendingPoint, a financial technology platform, announced a $125 million preferred equity investment from Warburg Pincus, a leading global private equity firm focused on growth investing. LendingPoint will use the proceeds to expand its financing solutions for its ecommerce, point of sale, and financial institution partners and further enhance its data and technology platform.
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“We believe LendingPoint has substantial opportunities for continued growth and are excited to partner with Tom and his management team to execute on these opportunities, invest in new capabilities, and support their customers.”
LendingPoint believes everyone deserves to feel the power of financial possibilities. The company 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.
“We continue to build our platform to provide world class financing and white label solutions,” said Tom Burnside, CEO & Co-Founder, LendingPoint. “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.”
Juan E. Tavares, Chief Strategy Officer & Co-Founder of LendingPoint continued, “As we refine and extend our product offerings, our new partnership with Warburg Pincus will help us fulfill our goal of creating a new category in financial services.”
Warburg Pincus has invested over $11 billion across the full spectrum of the financial services landscape, including insurance, banking, asset management, specialty finance, payments, and transaction processing. Together with the Warburg Pincus investment, LendingPoint has raised more than $325 million of equity to date.
“LendingPoint’s unique use of data and technology and best-in-class lending platform has enabled it to scale rapidly by providing financial solutions and superior service to its expanding customer base,” said Eric Friedman, Managing Director, Warburg Pincus. “We believe LendingPoint has substantial opportunities for continued growth and are excited to partner with Tom and his management team to execute on these opportunities, invest in new capabilities, and support their customers.”
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