Fintech company FinFit Ops closed a $35 million senior credit facility with Ares Management. The facility includes the option to increase its capacity to $70 million.
The proceeds of the facility, together with $16 million in equity previously invested by Bison Capital Partners, will be used to expand the company’s ability to offer financial wellness benefit programs and short-term financial assistance to employees across the USA.
“We are very pleased with this transaction and partnership with Ares,” said David Kilby, president of FinFit. “It will allow us to dramatically expand our reach and assist us in achieving our goal of increasing financial wellness one employee at a time.”
Keefe, Bruyette & Woods acted as exclusive financial advisor on the facility.
FinFit is a financial wellness benefit platform, serving more than 80,000 companies and providing a self-directed online experience that lets employees measure their financial fitness.
