Pathlight Capital joined a $330 million syndicated credit facility for Propel, a fintech company, in support of its CreditFresh line of business. Proceeds from the facilities will be used to support continued growth in CreditFresh’s loan portfolio. The credit facility continues to be led by Bastion Management and affiliates thereof and Hudson Cove Capital Management and affiliates thereof.
“We are pleased to expand our lender group with the addition of Pathlight,” Clive Kinross, CEO of Propel, said. “Their knowledge of financial services and substantial capital base is well-aligned with our growth strategy. Their understanding of the consumers we serve is a key differentiator and something that gives us a high level of comfort as we enter into this new partnership.”
“We believe the team at Propel has established a differentiated AI-powered technology platform which has resulted in a strong performance history for their consumer loan portfolio,” Tyler Harrington, managing director at Pathlight, said. “We are pleased to partner with them as they enter their next phase of growth.”
“We’ve known the team at Bastion for multiple years and are excited about partnering with them on this transaction,” Christopher Arnold, managing director at Pathlight, said.
