Total amount raised
$100 Millions
Latest funding date
07/01/2021
Location
LoanPro has successfully raised funding through a Series A round, positioning itself as a key player in the lending and credit management industry. The platform offers a comprehensive suite of solutions, including origination, servicing, collections, and payments, tailored to meet the needs of various financial institutions and lenders.
With its API-first architecture, LoanPro addresses common industry challenges such as scalability and security, making it a preferred choice for over 600 lenders. Keep reading to explore the intricacies of LoanPro's fundraising journey and the investors backing this innovative platform.
What Is LoanPro?
LoanPro, founded on February 29, 2016, is a leading player in the FinTech industry, specializing in loan processing and management solutions. The company is headquartered in Farmington, Utah, and was founded by Ben Roberts, Lloyd Roberts, and Rhett Roberts.
With a workforce of 101-250 employees, LoanPro offers an API-first, scalable platform that enhances every step of the lending journey. The platform serves various sectors, including financial institutions, consumer lending, business lending, auto lending, and neobanks, driving innovation and operational efficiency.
How Much Funding Has LoanPro Raised?
- Series A
- Amount Raised: $100M
- Date: July 7, 2021
- Lead Investors: FTV Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform functionality, enter new lending verticals, and invest in client-centric growth initiatives.
Total Amount Raised: $100M. Current Valuation: Not publicly disclosed.
Key Investors
- FTV Capital
- Details: FTV Capital is a growth equity investment firm founded in 1998. The firm has raised nearly $4 billion to invest in high-growth companies.
- Investment Focus Areas: Enterprise technology and services, financial services, payments and transaction processing.
- Notable Investments: Docupace, Derivative Path, EBANX.
What's Next for LoanPro?
LoanPro's future looks promising with the $100 million investment from FTV Capital. This substantial funding will enable the company to enhance its platform functionality, enter new lending verticals, and invest in client-centric growth initiatives. The rapid growth of digital-native fintechs and the increasing preference for digital engagement by consumers and businesses present significant opportunities for LoanPro to expand its market reach and develop new features.
As LoanPro leverages this investment, it may attract further funding opportunities, potentially leading to additional rounds of investment or strategic acquisitions. However, the company will need to navigate challenges such as competition from other fintech and traditional lending platforms, keeping up with rapid technological advancements, and ensuring scalability while maintaining high levels of customer service.
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