This investment from Atalaya Capital Management comes as LendingUSA continues to see success amidst the ongoing pandemic.
LendingUSA, a leading point-of-sale financing provider, has announced that it closed a new credit facility and received a total financing package of up to $200 Million from Atalaya Capital Management, a privately held investment advisory firm based out of New York.
Read More: Vitesse, a Fintech Providing Real-Time Cross-Border Payments for Businesses, Scores £6.6m Series A
LendingUSA is a point-of-sale (POS) fintech company that offers merchants a seamless financing solution with access to instant pre-approval decisions, promotional financing terms, and low monthly payment options. This announcement follows Atalaya’s previous investment of $250 Million in 2019.
Since its inception, has grown to over 10,000 merchant clients nationwide and has processed over $2 billion in borrower loan requests. LendingUSA offers its merchants access to its easy-to-use platform that allows them to complete applications in a matter of minutes and receive loan decisions within seconds.
“At LendingUSA, we are continuing to stay true to our mission of providing smart financing solutions for the important moments in life,” says Camilo Concha, Founder and CEO of LendingUSA. “Atalaya’s latest investment commitment shows the enduring strength of our partnership and their continued support to the growth of our business.”
“We have found Atalaya Capital Management to be strategic, and relationship-oriented partners,” says Ron Oertell, CFO of LendingUSA. “We’re thrilled to continue working with them toward an exciting future for the company.”
With this latest closing, LendingUSA will be poised to continue expanding its business and accelerating its growth and development of new products.
“We are excited to expand upon our long-term partnership with LendingUSA,” says Raymond Chan, a Partner at Atalaya Capital Management. “This financing allows to continue growing and further demonstrates Atalaya’s commitment to the point-of-sale financing industry.”
Read More: Habito, UK’s Digital Mortgage Broker, Secures £5.5m in Series A funding
