Encina Lender Finance closed a $50 million senior secured credit facility for Bright Money, a fintech platform that helps consumers manage their debt.
“We are proud to support Petko Plachkov, Avi Patchava and the rest of the Bright Money team,” Bill Laird, head of risk for Encina Lender Finance’s consumer vertical, said. “The Bright team has leveraged its deep experience in consumer lending and data analytics to create powerful tools and financing options for its customers.”
“The Encina Lender Finance team has been a great partner for Bright,” Petko Plachkov, co-CEO of Bright Money, said. “ELF’s customer-focused approach and extensive knowledge of consumer lending resulted in a credit facility that allows us to scale our business.”
