LendingPoint
| Company type | Private |
|---|---|
| Industry | Financial services, Fintech |
| Founded | 2014 |
| Founder | Tom Burnside, Franck Fatras, Victor J. Pacheco, Juan E. Tavares |
| Headquarters | Cobb County, Georgia , United States |
| Products | Personal loans, Point-of-sale financing, Merchant lending solutions |
| Parent | Warburg Pincus (since 2021) |
| Website | www |
LendingPoint is a fintech company that analyzes a consumer's comprehensive financial background—including credit history, employment records, and income potential—to determine credit eligibility. By placing less emphasis on conventional indicators such as FICO scores and debt-to-income ratios, it provides more accessible personal loan options for individuals with credit ratings ranging from 500 to 850. Established in 2014 by Tom Burnside, Franck Fatras, Victor J. Pacheco, and Juan E. Tavares, LendingPoint is dedicated to delivering inclusive lending solutions.
History
The company's initial consumer loan product was introduced in January 2015. Later that year, in October, LendingPoint obtained a $100 million credit facility overseen by Ares Management, followed by an additional $5 million credit line from Aeterna Capital Partners in December. In August 2016, Houman Motaharian, formerly with American Express, joined the firm as Chief Revenue Officer. By the close of 2016, LendingPoint had disbursed loans exceeding $100 million across 13 states.
In 2017, LendingPoint collaborated exclusively with ezVerify to launch ezCarePoint, a platform allowing patients to estimate their medical out-of-pocket costs and access flexible payment options. That August, the company secured a $500 million credit facility facilitated by Guggenheim Securities.
January 2018 marked LendingPoint’s acquisition of LoanHero’s merchant portal technology to strengthen its point-of-sale financing capabilities. Within the same year, it arranged another credit facility through Guggenheim Securities and increased its mezzanine financing to $52.5 million.
In July 2020, LendingPoint unveiled SDKn, a merchant lending solution offering online portals for consumer loan pre-approvals. The following month, it partnered with eBay to provide installment loans up to $25,000 without origination or early repayment fees via eBay Seller Capital. October 2020 saw the completion of its largest asset-backed securities issuance totaling $328.5 million.
A $125 million preferred equity investment from Warburg Pincus was announced in January 2021. Since its inception in 2015, LendingPoint has originated over $2.3 billion in consumer loans nationwide.
In May 2022, LendingPoint teamed up with Midland States Bank of Illinois to allow the bank to originate consumer loans using its underwriting standards through LendingPoint’s point-of-sale retail platform.