Park Cities Asset Management, an alternative investment firm focused on providing flexible debt solutions, provided $30 million of debt capital commitments to Applied Data Finance (ADF). Through its Personify Financial platform, ADF offers underestimated Americans an alternative for unsecured personal installment loans.
“We are pleased to provide this capital commitment to ADF and support the growth of ADF’s consumer loan portfolio,” Alex Dunev, managing partner at Park Cities, said. “This investment reflects Park Cities’ confidence in ADF’s ability to serve the underestimated while providing an opportunity to work with a pioneer in the specialty finance lending industry.”
The financing was in addition to the company’s existing facility as ADF continues to provide consumers with credit using its own balance sheet. ADF will use the Park Cities capital commitment to continue to scale its successful Personify Financial online lending platform.
“At ADF, we aim to better meet the financial needs of underestimated Americans across the credit spectrum through our mastery of cutting-edge data science and technology and our commitment to mutual success,” Krishna Gopinathan, founder and CEO of ADF, said. “With the flexible financing provided by Park Cities, we look forward to continuing to grow by responsibly connecting consumers with capital.”
