Company Achieves Second Straight Year of Profitable Growth
ATLANTA–(BUSINESS WIRE)–LendingPoint, an AI-driven CreditTech platform, today announced it achieved record growth across its platform in the second half of 2021.
Second Half 2021 Financial and Operational Highlights
- Platform originations in 2H 2021 increased 146% over 2H 2020, and were up 52% over 1H 2021 figures.
- Revenue growth in 2H 2021 increased 111% over 2H 2020, and 48% over 1H 2021.
- Net Income grew 73% in 2H 2021 over 2H 2020 and 15% over 1H 2021.
- Added offices in Dallas, Texas and Chicago, Illinois to support the addition of new team members. The team grew another 54% from the first half of 2021.
- Launched the first phase of LendingPoint’s personal finance management tool, an exclusive customer-only feature.
- Expanded its bank partnership program by adding new credit unions and banking institutions to the AI CreditTech origination platform.
“Coming out of the second year of a global pandemic, we’re thrilled to report that our models and platform are as strong as ever, thanks to our growing team of customer-powered, like-minded professionals who are dedicated to our mission,” said LendingPoint CEO Tom Burnside. “I am proud of all we have accomplished for our banking institutions, merchant and eCommerce partners, and our consumers. This would not have been possible without the platform engine built on more than 65 billion data signals to provide ‘segment of 1’ underwriting and pricing. Our 2022 focus will include using our data and models to provide customized and differentiated financial experiences for our consumers.”
About LendingPoint
LendingPoint is an AI-driven CreditTech platform that provides financing origination solutions to consumers, for ecommerce and point of sale partners, and lending institutions. The company’s fraud prevention, risk and asset management algorithms are used to create financing opportunities across the credit spectrum. Its LendingPoint Merchant Solutions platform provides ecommerce platforms, merchants, and other service providers fully integrated, one-stop financing solutions to convert more customers.
For the past three years, LendingPoint has been named to Inc. 5000’s list of fastest-growing private companies, ranking 17th in 2019. LendingPoint was ranked on Deloitte’s Technology Fast 500 list in 2019 and 2020 and was honored as one of the top 40 fastest growing companies in Atlanta by the ACG in 2019, 2020, and 2021. LendingPoint also was named one of the 2021 Best Places to Work by the Atlanta Business Chronicle. LendingPoint is a privately held company headquartered in metro Atlanta, with offices in San Francisco and New York. LendingPoint, LLC owns and operates the LendingPoint platform.
Contacts
Rachel Russel, PR Specialist
Just Drive Media
[email protected]
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