Company: LendingPoint
Industry: Financial Services
Project: Business Plan for Seed Capital Fundraising
LendingPoint leverages data and exponential technologies to accelerate and democratize commerce in the USA. Recognized by Inc 500 and Fast 500, LendingPoint is one of the fastest-growing companies in the country, both in the tech and financial sectors. Its value proposition is structured as an entity that provides financial solutions for consumers and merchants while also offering its platform as a service for clients seeking faster financing responses at their points of sale.
Since beginning operations in 2015, the company has originated $1.7 billion in portfolio loans and continues to originate at a pace of $100 million per month. Currently, LendingPoint manages a $900 million loan portfolio serving 125,000 clients across the U.S., with plans to double this figure by 2020.
Achievements and Recognitions
The company’s success has been widely recognized. The magazine Inc 500 recognized LendingPoint as the 2nd fastest-growing private company in the financial sector and ranked it No. 17 overall. Deloitte Fast 500 also ranked LendingPoint as the No. 9 fastest-growing company in the technology sector, securing a spot in the Top 10 in the U.S.
To achieve these efficiencies, LendingPoint relies on its proprietary technology platform, which enables it to assess credit risk far more effectively than traditional methods. This allows the company to access a market segment that traditional banks either cannot or choose not to serve and that other FinTech companies have struggled to serve profitably.
In this regard, the company’s key differentiator is its superior credit model compared to competitors within the same credit score range: FICO (580-680). This has been validated by the capital markets, as its portfolio received a rating from Kroll Bond Rating Agency (KBRA), which enabled LendingPoint to complete its first public debt issuance ($178 million) last month. The issuance was oversubscribed three times and achieved an interest rate of 4.05%.
Additionally, LendingPoint’s CEO, Tom Burnside, was selected as a finalist for EY Entrepreneur of the Year, a program that recognizes successful leaders in over 145 cities worldwide.
Consulting by Silver
As a financial services project, LendingPoint understood the need for a broad-spectrum economic study and strategy before starting its fundraising process.
Silver developed the business plan that was used to secure the seed capital for the company’s launch. We take great pride in having participated in LendingPoint’s early prospecting stage, as it fills us with pride to see how the design and scope of a new plan became a fundable project—and today, a successful company beyond our borders.
Testimonial by Juan E. Tavares, Chief Strategy Officer at LendingPoint
“When undertaking a project, it is crucial to define the strategy, align resources, and evaluate opportunities.
Silver has strengthened our management by supporting us throughout the entire planning process. Their multidisciplinary expertise, dedication to service delivery, and efficiency have positioned Silver top of mind for us.
We would recommend their services to anyone striving for excellence.”
-Juan E. Tavares
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