Applied Data Finance, a NYC-based early-stage provider of online consumer credit, received a $50m credit facility from Victory Park Capital.
In addition to providing its first institutional credit facility, Victory Park Capital will also provide an equity investment to fund working capital in advance of ADF’s Series A round expected later this year.
The company intends to use the funds to launch its suite of lending products in the second quarter.
Led by Krishna Gopinathan, president, ADF operates Personify Financial, which applies technology and advanced techniques in data science and machine learning to optimally assess the credit risk of non-prime borrowers and acts as an installment loan lender, offering loans in a range of sizes and terms.
FinSMEs
13/04/2015