Digital Lending Platform LoanPro Bags US$100 Million From Series A Fundraise13 July 2021
LoanPro, a SaaS-based loan management, servicing and collections platform for alternative, fintech and traditional lenders, announced it has raised a US$100 million growth equity investment in a Series A funding round from FTV Capital, a growth equity investor.
As part of the transaction, Robert Anderson, who led the investment for FTV Capital, will join LoanPro’s board of directors.
Through this capital raise, LoanPro will enhance its platform functionality, enter new lending verticals, and further invest in client-centric growth initiatives.
LoanPro was founded in 2014 by three brothers, to enable lenders to take back operational control and enhance real-time data insights and visibility.
The platform reportedly has more than US$15 billion of loans under management and over 600 clients across a diverse range of loan types and lending programs (e.g. prime, sub-prime, personal, consumer, auto, business, point-of-sale finance and buy now, pay later) in the United States and Canada.
“As founders who started out as lenders, we understand the pain points that lenders experience. LoanPro was built by lenders for lenders—we use a modern tech stack to simplify the user experience of managing loans—we do the hard work on the back end to make the front end clean and simple to use.
FTV Capital’s investment, in addition to their extensive market knowledge and vast strategic network, will help us grow our platform and accelerate our ability to reach and successfully serve even more lenders.”
said Rhett Roberts, Co-Founder and CEO of LoanPro.
This article first appeared on fintechnews.ch
Featured image: LoanPro Founders. (Left to right) Lloyd, Ben, and Rhett Roberts
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