Total amount raised
$100 Million
Latest funding date
07/01/2021
Location
LoanPro has successfully raised funding through a Series A round, with FTV Capital as the lead investor. The platform offers a composable, API-first solution designed to power origination, servicing, collections, and payments for various types of loans and credit products.
Keep reading to explore the intricacies of LoanPro's fundraising journey and the investors backing this innovative platform.
What Is LoanPro?
LoanPro is a prominent player in the financial technology sector, specializing in loan management software and lending platforms. Based in Farmington, Utah, the company operates with a workforce of 101-250 employees.
Founded to innovate the future of finance, LoanPro offers a scalable, API-first platform that supports the full lifecycle of loans, from origination to collections. The company serves over 600 lenders and manages more than 25 million active loans, making it a significant force in the industry.
How Much Funding Has LoanPro Raised?
- Series A
- Amount Raised: USD 100,000,000
- Date: July 2021
- Lead Investors: FTV Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The investment aims to enhance LoanPro's platform functionality, enter new lending verticals, and invest in client-centric growth initiatives.
Total Amount Raised: USD 100,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- FTV Capital
- Details: FTV Capital is a growth equity investment firm that has invested $100 million in LoanPro. Founded in 1998, the firm has offices in San Francisco, New York, and Connecticut.
- 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 stands at the cusp of significant growth opportunities, fueled by a $100 million investment from FTV Capital. This capital injection will enable the company to enhance its platform functionality, enter new lending verticals, and invest in client-centric growth initiatives. The size of this opportunity is substantial, with the potential to scale operations and serve a broader market.
Future fundraising opportunities appear promising as LoanPro continues to demonstrate success and attract further investments. However, the company may face challenges such as competition from other fintech platforms and the need to continuously innovate. Despite these hurdles, LoanPro is well-positioned to capitalize on industry trends favoring SaaS-based solutions in financial services.
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