LendingPoint Closes Up to $110M Mezzanine Facility


LendingPoint Consolidated, Inc., parent of the Metro Atlanta based financial technology platform LendingPoint, closed an up to $110m, 5-year corporate mezzanine credit facility with new partners MidCap Financial Trust, managed by a subsidiary of Apollo Global Management, Inc. and Apollo Investment Corporation (NASDAQ: AINV).

The announcement follows a recent $125m preferred equity investment from Warburg Pincus, a private investment firm focused on growth investing.

Led by Tom Burnside, CEO, LendingPoint is a financial technology platform that provides financing origination solutions for its ecommerce and point of sale partners, its lending institutions, and to consumers. The company’s fraud prevention, risk and asset management algorithms are used to create financing opportunities across the credit spectrum. Its Buy Now Pay Later LendingPoint Merchant Solutions platform provides ecommerce platforms, merchants, and other service providers fully integrated, one-stop buy now, pay later financing solutions to convert more customers.

In 2020, LendingPoint launched SDKn, a proprietary technology which creates an instant consumer credit pre-approval platform for businesses of all sizes; enhanced its buy now, pay later merchant platform; and partnered with a leading global ecommerce platform to provide small business capital to their sellers. This year, the company is focused on further improving the customer journey through investments in AI and user experience, expanding the functionality in its mobile app, and identifying new ways to meet consumers where they are with the products they want.