Raven Capital, an alternative investment firm specializing in asset-based, non-sponsor private credit, arranged a $655 million refinancing for Elevate, a provider of innovative online credit solutions for underserved consumers in the United States.
The refinancing extends Raven Capital’s longstanding relationship with Elevate. The firm initially became involved with Elevate nearly a decade ago and has continued to support the company through its latest phase of growth and operational expansion. Hudson Cove Capital Management also participated in the financing.
This transaction further expands Raven Capital’s activity within specialty finance and broader asset-based finance markets.
“We are pleased to deepen our long-standing partnership with Elevate and its exceptional management team through this refinancing,” Jeremy Tucker, founding member and principal at Raven Capital, said. “We have worked closely with the company for many years and continue to view Elevate as a leader in the alternative financial services sector with a strong platform and deep experience serving its customers. This transaction highlights Raven Capital’s commitment to providing scaled, flexible capital solutions in complex asset-based finance markets.”
Jason Harvison, president and CEO of Elevate, added, “This facility reflects the strength of our long-standing partnership with Raven Capital and provides Elevate with the financial foundation to capitalize on the opportunities ahead. We are well positioned to expand access to credit for non-prime consumers, continue investing in our platform and deliver disciplined, profitable growth. We appreciate Raven’s continued partnership and confidence in our business, team and mission.”
