Pathlight Joins $330,000,000 Credit Facility for Propel Holdings
Pathlight Capital has joined a $330,000,000 syndicated credit facility for Propel Holdings to support its CreditFresh line of business. Propel, a fintech company listed on TSX under PRL, focuses on providing credit access to underserved consumers. The facility, led by Bastion Management and Hudson Cove Capital Management, will fund CreditFresh's loan portfolio growth. Propel's AI-powered technology platform has demonstrated strong performance in consumer lending, making it an attractive partnership opportunity for Pathlight.
Pathlight Capital ha aderito a un prestito sindacato da 330.000.000 di dollari per Propel Holdings al fine di supportare la sua linea di business CreditFresh. Propel, un'azienda fintech quotata al TSX con il simbolo PRL, si concentra sulla fornitura di accesso al credito per i consumatori svantaggiati. Il prestito, guidato da Bastion Management e Hudson Cove Capital Management, finanzierà la crescita del portafoglio prestiti di CreditFresh. La piattaforma tecnologica potenziata dall'IA di Propel ha dimostrato forti performance nel settore dei prestiti al consumo, rendendo questa partnership un'opportunità attraente per Pathlight.
Pathlight Capital se ha unido a una facilidad de crédito sindicado de 330.000.000 dólares para Propel Holdings, con el fin de respaldar su línea de negocio CreditFresh. Propel, una empresa fintech que cotiza en TSX bajo el símbolo PRL, se enfoca en proporcionar acceso al crédito a los consumidores desatendidos. La facilidad, liderada por Bastion Management y Hudson Cove Capital Management, financiará el crecimiento de la cartera de préstamos de CreditFresh. La plataforma tecnológica impulsada por IA de Propel ha demostrado un sólido desempeño en préstamos al consumo, convirtiéndola en una oportunidad de asociación atractiva para Pathlight.
Pathlight Capital는 3억 3천만 달러 규모의 신디케이트 신용 시설에 참여하여 Propel Holdings의 CreditFresh 사업을 지원합니다. Propel은 TSX에 PRL로 상장된 핀테크 회사로, 자원이 부족한 소비자에게 신용 접근을 제공하는 데 중점을 두고 있습니다. 이 대출은 Bastion Management와 Hudson Cove Capital Management에 의해 주도되며 CreditFresh의 대출 포트폴리오 성장에 자금을 공급합니다. Propel의 AI 기반 기술 플랫폼은 소비자 대출 분야에서 강력한 성과를 보여 Pathlight에게 매력적인 파트너십 기회로 다가옵니다.
Pathlight Capital a rejoint une facilité de crédit syndiqué de 330 000 000 $ pour Propel Holdings afin de soutenir sa ligne d'affaires CreditFresh. Propel, une entreprise fintech cotée à la TSX sous le symbole PRL, se concentre sur l'accès au crédit pour les consommateurs mal desservis. La facilité, dirigée par Bastion Management et Hudson Cove Capital Management, financera la croissance du portefeuille de prêts de CreditFresh. La plateforme technologique alimentée par l'IA de Propel a démontré de solides performances dans le domaine des prêts à la consommation, ce qui en fait une opportunité de partenariat attrayante pour Pathlight.
Pathlight Capital hat sich an einer syndizierten Kreditfazilität über 330.000.000 Dollar für Propel Holdings beteiligt, um deren Geschäftslinie CreditFresh zu unterstützen. Propel, ein Fintech-Unternehmen, das an der TSX unter PRL gelistet ist, konzentriert sich darauf, unterversorgten Verbrauchern Zugang zu Krediten zu bieten. Die Fazilität, die von Bastion Management und Hudson Cove Capital Management geleitet wird, wird das Wachstum des Kreditportfolios von CreditFresh finanzieren. Die KI-gestützte Technologieplattform von Propel hat im Verbraucher-Kreditbereich starke Leistungen gezeigt und stellt somit eine attraktive Partnerschaftsmöglichkeit für Pathlight dar.
- Secured substantial $330M credit facility for business expansion
- Strong performance history in consumer loan portfolio
- Established AI-powered technology platform
- None.
"We are pleased to expand our lender group with the addition of Pathlight," said Clive Kinross, Propel's Chief Executive Officer. "Their knowledge of financial services and substantial capital base is well-aligned with our growth strategy. Their understanding of the consumers we serve is a key differentiator and something that gives us a high level of comfort as we enter into this new partnership."
Tyler Harrington, Managing Director at Pathlight said, "We believe the team at Propel has established a differentiated AI-powered technology platform which has resulted in a strong performance history for their consumer loan portfolio. We are pleased to partner with them as they enter their next phase of growth."
"We've known the team at Bastion for multiple years and are excited about partnering with them on this transaction," added Christopher Arnold, Managing Director at Pathlight.
About Pathlight Capital
Pathlight Capital is a private credit investment manager dedicated to meeting the needs of companies that operate across a broad range of industries by providing asset-based loans secured on a first or second lien basis against tangible and intangible assets. Pathlight aims to provide creative financing solutions to allow management teams to access incremental liquidity for the purposes of funding working capital, debt refinancings, growth, acquisitions, dividends and turnaround strategies. For more information, please visit www.pathlightcapital.com.
About Propel
Propel Holdings (TSX: PRL) is the fintech company building a new world of financial opportunity for consumers, partners, and investors. Propel's operating brands — Fora Credit, CreditFresh and MoneyKey — and our Lending-as-a-Service product line facilitate access to credit for consumers underserved by traditional financial institutions. Through its groundbreaking AI-driven platform, Propel evaluates customers in a more comprehensive way than traditional credit scores can. The result is better products and an expanded credit market for consumers while creating sustainable, profitable growth for Propel. Our revolutionary fintech platform has already helped consumers access over one million loans and lines of credit and over one billion dollars in credit. At Propel, we are here to change the way customers, partners and investors succeed together. Learn more at www.propelholdings.com.
The information presented in this release is the opinion of Pathlight Capital LP and does not reflect the view of any other person or entity. The above is for information purposes and should not be construed as an investment recommendation.
This release may contain an endorsement from an individual who may be supporting or recommending the activities of Pathlight Capital LP. Such individual has not been compensated directly or indirectly by Pathlight Capital LP for the use of his statements. The statements represent endorsement by that individual only and may not represent the experience of all counterparties.
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SOURCE Pathlight Capital
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