LendingUSA, a provider of point-of-sale financing, closed a new credit facility of $200 million from Atalaya Capital Management and Credit Suisse. Sector Financial, an affiliate of Credit Suisse, provided access to the credit facility. LendingUSA previously closed credit facilities with both Atalaya and Credit Suisse.
Since its founding in 2015, LendingUSA has grown to serve more than 10,000 merchant clients throughout the United States and has processed billions in borrower loan requests. Its merchant partners use LendingUSA to offer financing to their customers at the point of sale. Its online platform allows merchants to submit an application and receive a loan decision within minutes. The new credit facility will allow LendingUSA to continue to expand its products and services.
“This is an important step forward for LendingUSA. This funding capacity will allow us to keep expanding and stay true to our vision in helping our customers to finance the important moments in life,” Camilo Concha, founder and CEO of LendingUSA, said. “Securing this credit facility with Atalaya and Credit Suisse will help us get to the next level of our journey.”
“It’s a pleasure to work with financial institutions like Atalaya and Credit Suisse,” Adam Contino, CFO of LendingUSA, said. “We look forward to accelerating our innovation with the help of this funding capacity.”