Braviant Holdings, a Chicago, IL-based fintech startup that offers technology-driven credit solutions for underserved Americans, entered into a $40m senior secured credit facility.
Redpoint Capital Group provided the financing.
The company intends to use the funds to continue to grow its ongoing efforts to expand into loans to meet the needs of the new middle class.
Led by Stephanie Klein, CEO, Braviant uses advanced analytics and proprietary technology to streamline the borrowing process to offer credit solutions for underserved Americans,. Its Balance Credit subsidiary, which has more than doubled its year to date originations in 2017, has facilitated nearly $100 million in credit access to consumers whose less-than-perfect credit scores make it difficult to qualify for mainstream banking products.
The company recently announced its expansion into the California market, which adds to Delaware, Missouri, New Mexico, Ohio, South Carolina, Texas, Utah and Wisconsin.
FinSMEs
27/10/2017