Victory Park Capital Provides $50 Million Credit Facility to Applied Data Finance
Press Release
Apr 13, 2015
CHICAGO – Apr. 13, 2015 – Victory Park Capital (VPC), an asset management firm focused on middle market debt and equity investments, announced today that it has invested in Applied Data Finance (ADF or the Company), an early-stage provider of online consumer credit. This facility will provide the growth capital necessary as the Company looks to launch its suite of lending products in the second quarter.
In addition to providing ADF’s first institutional credit facility, VPC will also provide an equity investment to fund working capital in advance of the Company’s Series A round expected later this year.
“We are very excited to partner with Krishna [Gopinathan] who is truly a pioneer within the financial services industry in fraud prevention and evaluating consumer credit risk. With our facility in place, ADF is well capitalized for growth out of the gate and will be well positioned to gain market share throughout 2016,” said Tom Welch, principal at Victory Park Capital. “Krishna has surrounded himself with a highly-experienced executive team and we are excited to see how the platform scales over time while the overall lending ecosystem continues to evolve.”
“Victory Park is a clear leader in the structured finance lending market and this credit facility represents an important milestone for our Company,” said Krishna Gopinathan, president of ADF. “We appreciate their confidence in ADF and look forward to working together.”
About Victory Park Capital
Victory Park Capital Advisors, LLC (“VPC”) is a privately held, SEC-registered, global alternative investment firm. VPC provides opportunistic capital solutions to both emerging and established businesses with an expertise investing across various sectors where traditional sources of capital are limited. The firm’s differentiated offerings leverage an extensive network of industry relationships, disciplined deal origination, creative financing capabilities and broad credit structuring and special situations expertise. The firm was founded in 2007 and is headquartered in Chicago with additional offices in New York, Los Angeles and San Francisco. For more information, please visit www.victoryparkcapital.com.
About Applied Data Finance
ADF, through its brand “Personify Financial,” is the trusted financial partner for the underestimated under-banked. Through state-of-the-art technology and a commitment to world-class application of the most advanced techniques available in data science and machine learning, ADF is able to optimally assess the credit risk of non-prime borrowers. ADF relentlessly drives down the cost of borrowing for our customers using its technological advantage. It is led by a seasoned team of senior executives, leverages a robust and highly scalable infrastructure, and is highly committed to regulatory and compliance best practices. Find out more at www.applieddatafinance.com.