Alleviate Financial Solutions closed a $150 million growth capital investment from Sound Point Capital Management. This funding marks a major step in establishing the “debt-to-wealth” category.
“With this investment, Alleviate is not only scaling; we’re defining a new industry,” Michael Barsoum, CEO of Alleviate, said. “We are building one of the largest consumer financial companies in the country, but more importantly, we are pioneering the debt-to-wealth journey. This capital accelerates our ability to innovate, expand our platform and serve millions of people who are earning more than debt relief; they are earning the tools to build lasting financial strength.”
Philip Bartow, managing director and head of specialty finance at Sound Point Capital Management, said, “We are excited to partner with Alleviate as they deliver meaningful impact for consumers and advance innovative solutions that promote long-term financial health. This investment in debt settlement represents a disciplined extension of our strategy, supporting best-in-class originators who are addressing critical and underserved needs within consumer finance.”
The financing will enable Alleviate to accelerate revenue growth, product innovation and AI-powered operations.
