CreditMax, a West Palm Beach, FL-based electronic exchange for the sale and purchase of distressed consumer debt, has received a growth equity investment of undisclosed amount from PPF Finance LLC, a subsidiary of PartnerRe Ltd. (NYSE: PRE) and Metropolitan Equity Partners.
The investment will allow the company to expand its NDSE Trading Platform and the launch of a debt lending program for qualified debt buyers.
CreditMax’s NDSE exchange enables sellers to list debt for sale on a national, regional, state, local, or even account-specific basis. The platform enables buyers to identify and analyze portfolios in an efficient manner and to acquire those assets that have the most value to them.
In conjunction with the investment, PartnerRe and Metropolitan Equity Partners join the company’s board, which includes Advisory Members Les Biller, former Vice Chairman of Wells Fargo, Herb Lurie, former Head of Merger & Acquisitions Financial Services Banking, Merrill Lynch, and Michael Hayward, former Vice Chairman of Fleet First Boston.