Atalaya invests $200m in lending company

New York-based Atalaya Capital Management closed a new credit facility with LendingUSA, providing the point-of-sale lending company with a financing package of up to $200 million. The investment follows $5 billion private credit firm’s previous investment of $250 million in 2019. With this latest closing, LendingUSA said it will be poised to continue expanding its business and accelerating its growth and development of new products. "We are excited to expand upon our long-term partnership with LendingUSA," said Raymond Chan, a partner at Atalaya. "This financing allows LendingUSA to continue growing and further demonstrates Atalaya's commitment to the point-of-sale financing industry." LendingUSA has processed over $2 billion in borrower loan requests since its inception in 2015. The company works with over 10,000 merchants nationwide in helping them complete loan applications in a matter of minutes and to receive loan decisions within seconds. "At LendingUSA, we are continuing to stay true to our mission of providing smart financing solutions for the important moments in life," said Founder and CEO of LendingUSA Camilo Concha. "Atalaya's latest investment commitment shows the enduring strength of our partnership and their continued support to the growth of our business." "We have found Atalaya Capital Management to be strategic, and relationship-oriented partners," added Ron Oertell, CFO of LendingUSA. "We're thrilled to continue working with them toward an exciting future for the company." Atalaya remains active in this space. As the pandemic picked up steam in April, Atalaya closed a $100 senior secured revolving credit facility for CURO Group Holdings, which increased that company's borrowing capacity to up to $200 million over time.

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