Why We Invested in LoanPro
I’m happy to share that FTV Capital led a $100 million Series A investment in LoanPro, a leading SaaS-based loan management, servicing and collections platform for alternative, fintech and traditional lenders. With this investment, FTV will partner with LoanPro to enhance its platform functionality, enter new lending verticals, and further invest in client-centric growth initiatives.
We’ve invested in LoanPro during a time when digital native fintechs are experiencing rapid growth as consumers and businesses look to digital solutions to apply for and manage their loans; a trend accelerated by COVID-19 where technology has been even more heavily relied upon. However, the decades old incumbent systems that have been serving up legacy technology are not built to support this market shift to digital-first lending. Enter, the Roberts brothers.
One of the many aspects that drew us to LoanPro was their humble and authentic roots. LoanPro was founded in 2014 by three brothers, Rhett, Ben and Lloyd Roberts. In the lending industry themselves, the brothers built the platform after finding there were no other lending applications that met the needs of their own lending business.
LoanPro was built to allow lenders to take back operational control and enhance real-time data insights and visibility. The software’s core API architecture allows for an automated and highly configurable workflow, real-time access to data and insights, frictionless payment collections, lending program flexibility (new and existing products) and a superior customer experience.
To-date, LoanPro has more than $15 billion of loans under management and over 600 clients in the U.S. and Canada across a diverse range of loan types and lending programs, across segments such as prime, sub-prime, personal, consumer, auto, business, point-of-sale finance and the swiftly growing buy now, pay later category.
When FTV first met Rhett, Ben and Lloyd Roberts, we were impressed by their extensive technical knowledge and understanding of their industry. They understood the problems and issues that lenders were experiencing and built a modern tech stack and fully cloud-based solution to simplify the process. We are excited to partner with LoanPro to combine our industry knowledge and expertise and introduce them to our Global Partner Network (GPN) to grow the platform further and to reach and serve more lenders.
As the company’s first institutional investor, we are thrilled to have LoanPro join the FTV family and look forward to collaborating with the team to take their business into the next stage of growth.