Socially responsible lender LendUp has closed another USD100 million credit facility with investment firm Victory Park Capital (VPC) to fund future loan growth.
The facility brings LendUp’s total equity and debt financing to USD325 million.
The firm has also now originated more than 3.3 million loans and surpassed USD1 billion in loan originations since its inception in 2012.
“This is an important milestone for LendUp because it proves the viability and sustainability of the market opportunity for socially responsible lending,” says Sasha Orloff, LendUp CEO and co-founder. “I’m proud that our business growth and customer loyalty, combined with the continued confidence of our investors, proves that we’re well-positioned to help borrowers improve their financial health and lead better lives. We look forward to continuing to build upon our success.”