Fintech Franchise Network (FFN), an Itasca, IL-based closed its initial capital round, totaling $18M from two key strategic funding partners, which has allowed the business to launch.
These funds will be used as lending capital to fund non-prime consumer lending originations, with the balance being deployed as working capital.
Founded in 2022 as an expansion channel of Bright Side Loans and led by Glenn Hafner, CEO, Chris Jerzewski, COO, and Sandeep Devagiri, Chief Data Scientist, FFN is leveraging founder Greg Fasana’s non-prime lending platform that brings together applied data science, custom models, analytics and work-flow management across the entire application and customer lifecycle.
Over the next five years, FFN is looking to deliver 28 virtual lending branches (franchises) with an expected future valuation in excess of $300M. In addition to strategic leadership and management, Hafner is also responsible for capital raising and investor relations.
FinSMEs
08/03/2023