This investment from Atalaya Capital Management comes as LendingUSA continues to see success amidst the ongoing pandemic.
Press Release – updated: Sep 3, 2020 12:29 EDT
SHERMAN OAKS, Calif., September 3, 2020 (Newswire.com) – LendingUSA, a leading point-of-sale financing provider, has announced that it closed a new credit facility and received a total financing package of up to $200 Million from Atalaya Capital Management, a privately held investment advisory firm based out of New York.
LendingUSA is a point-of-sale (POS) fintech company that offers merchants a seamless financing solution with access to instant pre-approval decisions, promotional financing terms, and low monthly payment options. This announcement follows Atalaya’s previous investment of $250 Million in 2019.
Since its inception, LendingUSA has grown to over 10,000 merchant clients nationwide and has processed over $2 billion in borrower loan requests. LendingUSA offers its merchants access to its easy-to-use platform that allows them to complete applications in a matter of minutes and receive loan decisions within seconds.
“At LendingUSA, we are continuing to stay true to our mission of providing smart financing solutions for the important moments in life,” says Camilo Concha, Founder and CEO of LendingUSA. “Atalaya’s latest investment commitment shows the enduring strength of our partnership and their continued support to the growth of our business.”
“We have found Atalaya Capital Management to be strategic, and relationship-oriented partners,” says Ron Oertell, CFO of LendingUSA. “We’re thrilled to continue working with them toward an exciting future for the company.”
With this latest closing, LendingUSA will be poised to continue expanding its business and accelerating its growth and development of new products.
“We are excited to expand upon our long-term partnership with LendingUSA,” says Raymond Chan, a Partner at Atalaya Capital Management. “This financing allows LendingUSA to continue growing and further demonstrates Atalaya’s commitment to the point-of-sale financing industry.”
LendingUSA is an award-winning point-of-sale fintech company that offers merchants a seamless financing solution with access to loan decisions in seconds, promotional financing terms, and low monthly payment options for its customers across various niche markets.
Founded in 2015, LendingUSA is a proud certified minority-owned business, growing to over 10,000 merchants nationwide and processing over $2 billion in borrower loan requests. LendingUSA is committed to creating the best financing experience available through its proprietary point-of-sale lending solution. The company boasts a consumer rating of 4.8 out of 5-stars on BirdEye. All loans are made by Cross River Bank, a New Jersey State Chartered Bank, Member FDIC.
About Atalaya Capital Management
Atalaya Capital Management is a privately held, SEC-registered, alternative investment advisory firm. Atalaya primarily focuses on making private credit and special situation investments in three principal asset classes: specialty finance, real estate and corporate. Founded in 2006, Atalaya is headquartered in New York City and has more than $5 billion in assets under management. For more information visit https://www.atalayacap.com
Amanda Krebs, Marketing Manager