Braviant Holdings, a fintech startup that offers analytics and technology-driven credit solutions for underserved Americans, entered into a $40 million senior secured credit facility with Redpoint Capital Group for its wholly-owned subsidiary, Balance Credit.

Balance Credit has more than doubled its year-to-date originations in 2017 and is approaching profitability. Additional funding will fuel the company’s continued growth, including its ongoing efforts to expand into higher dollar, lower cost installment loans. Since inception, Balance has facilitated nearly $100 million in credit access to deserving consumers whose less-than-perfect credit scores make it difficult to qualify for mainstream banking products.

“Braviant is uniquely positioned to serve the entire nonprime credit spectrum with innovative products and services, and Redpoint is our ideal debt partner as we enter the next stage of our growth phase,” said Stephanie Klein, CEO, Consumer Lending at Braviant. “Redpoint has funded over $1 billion since inception and has a deep understanding of the specialty finance and fintech markets. We look forward to expanding alongside Redpoint and contributing to the consistent returns their investors have grown accustomed to over the past several years.”

Balance recently expanded into the California market. With this new credit facility now in place, Balance is further positioned to meet the needs of the estimated 26% of Californians who are currently underserved by traditional banking products. Balance also offers or arranges personal loans in Delaware, Missouri, New Mexico, Ohio, South Carolina, Texas, Utah and Wisconsin.

Braviant Holdings is a Chicago-based fintech company that uses advanced analytics and proprietary technology to streamline the borrowing process and transform how people access credit online.

Redpoint Capital Group is a Dallas-based investment company focused on managing and deploying capital into specialty finance and fintech markets through asset-based lending opportunities.