Elevate increased its credit facility with Victory Park Capital, a privately-held registered investment advisor dedicated to alternative investing, by $100 million to a total of $545 million.

The company will use the additional capital to support the growth of its credit products in the U.S. and UK and for further investment in its suite of online credit solutions.

“Elevate has become a clear leader in this space and we are excited to support their growth,” said Tom Welch, principal at Victory Park Capital. “We view Elevate as a best-in-class platform that is mission-driven in providing underserved consumers with transparent and responsible credit products.”

Elevate, an online credit provider, has originated more than $3 billion in nonprime credit to 1.4 million consumers to date. The company is privately held and is backed by Silicon Valley venture capital firms including Sequoia Capital and Technology Crossover Ventures.