School loan

LoanPro Secures $100M Series A Investment from FTV Capital

LoanPro was founded in 2014 by three brothers, Rhett, Ben and Lloyd Roberts, who developed the software after discovering that no lending app met the needs of his own lending business. LoanPro enables lenders to regain operational control and improve real-time insights and data visibility.

LoanPro has over $15 billion of loans under management and more than 600 clients across a diverse range of loan types and loan programs (eg. United States and Canada. The software’s core API architecture enables automated and highly configurable workflow, real-time access to data and information, frictionless payment collections, loan program flexibility (new and existing products), and superior customer experience.

“As founders who started out as lenders, we understand the challenges faced by lenders,” said Rhett Roberts, co-founder and CEO of LoanPro. “LoanPro was built by lenders for lenders – we use a modern technology stack to simplify the loan management user experience – we do the hard work on the back-end to make the front-end clean and simple to FTV Capital’s investment, in addition to their deep market knowledge and extensive strategic network, will help us grow our platform and accelerate our ability to reach and successfully serve even more lenders.”

Digital native fintechs have grown rapidly as an increasing percentage of consumers and businesses prefer to engage digitally. Many of these fintechs are looking to add lending capabilities. However, legacy lending technology was not designed to support digital-first lending, resulting in cumbersome and rigid experiences for lenders and their borrowers. LoanPro solves this problem by offering modern, state-of-the-art SaaS technology for loan management, servicing and collection, designed to fit midsize and enterprise lenders.

“LoanPro was an easy choice to make,” said Alex Rhodes, chief operating officer at Marlette Holdings Inc., parent company of consumer finance platform Best Egg. “With the best customer service being at the heart of what we do, we needed a top notch LMS. We look forward to continued growth with LoanPro.”

“FTV Capital is delighted to partner with LoanPro’s strong and passionate management team who have built a cutting-edge SaaS platform based on a deep understanding of their market and customer needs,” said Robert Anderson, partner at FTV Capital. “LoanPro solves the inefficiencies created by manual processes and outdated legacy systems by offering a fully cloud-based solution, with an API-first core architecture, that enables real-time monitoring, management, and automation throughout the cycle. life of a loan. Platform data provides a single, instantly accessible source of truth for loan management data, driving significant efficiencies for lenders of all types.”

As part of the transaction, Robert Anderson, who led the investment for FTV Capital, will join LoanPro’s board of directors.

Gibson, Dunn & Crutcher LLP advised FTV Capital.

About LoanPro
LoanPro offers the only truly API-based loan management software for the middle market and enterprise in the US/Canadian market. LoanPro is hosted on Amazon Web Services (AWS) “the cloud” and is designed to streamline both loan management and loan collection workflows. Over 600 lenders trust LoanPro, who enjoy transparency, control, flexibility, real-time database access, calculation accuracy and scalability enhanced, all on a PCI, SOC I and SOC II certified platform. For more information, visit loanpro.io.

About FTV Capital
FTV Capital is a growth equity investment firm that has raised close to $4 billion to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise technologies and services, financial services, and payment and transaction processing. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network®, a group of the world’s leading companies and executives who have helped FTV portfolio companies for two decades. Founded in 1998, FTV Capital has invested in over 120 portfolio companies, including Docupace, Derivative Path, EBANX, Enfusion, Sunlight Financial and Vagaro, and has successfully sold companies such as InvestCloud (recapitalised), Strata Fund Solutions ( acquired by Alter Domus) and WorldFirst (acquired by Ant Financial). FTV has offices in San Francisco, New York and Connecticut. For more information, please visitwww.ftvcapital.com.

Contact:
Alexa Ottenstein, Prosek Partners
646-818-9051
[email protected]

Lloyd Robert, CRO
(800) 559-4776 ext: 707
[email protected]

SOURCE LoanPro

Related links

https://www.simnang.com/loanpro/