Applied Data Finance Announces $250 Million Forward Flow Program with Axar Capital and affiliated companies
18 Junio 2024 - 7:00AM
Business Wire
Applied Data Finance, LLC (ADF), which operates a leading
technology-enabled consumer lending platform, today announced a
five-year $250 million forward flow agreement with Axar Capital
Management LP and its funds/affiliates.
Under the terms of the agreement, installment loans originated
by ADF’s bank partner on the ADF platform will be sold to Axar and
serviced by ADF. This arrangement will provide ADF with new capital
to grow its business and Axar with high-quality assets.
The agreement diversifies ADF’s liquidity sources, creating more
opportunity to grow its business while efficiently managing its
balance sheet. This allows further investments in ADF’s
state-of-the-art digital technology platform and advanced
data-science capabilities.
“We are thrilled to partner with Axar and its affiliates on
ADF’s first forward flow program. This validates the strength of
our team and our advanced technology,” said ADF Co-Founder and CEO
Krishna Gopinathan.
“With this five-year, $250 million, forward flow commitment, we
are excited to partner with ADF,” said Grant Mitchell, Head of
Research of Axar Capital Management. “We believe ADF’s cutting-edge
analytical approach will produce excellent risk-adjusted returns,
and we look forward to our partnership.”
About Applied Data Finance, LLC
ADF, through its Personify Financial brand, is the trusted
financial partner for tens of thousands of underestimated and
under-banked Americans. Combining state-of-the-art technology and
world-class application of advanced data science and machine
learning, ADF is setting a new standard for assessing near-prime
and non-prime borrower credit and fraud risk. Learn more at
www.applieddatafinance.com and www.personifyfinancial.com.
About Axar Capital Management LP
Axar Capital Management LP is a value-oriented investment firm
focused on highly flexible, opportunistic investing in the
corporate middle market. Axar's investment team focuses on
opportunities across the capital structure in complex situations as
a provider of debt and equity solutions that allow its management
teams and portfolio companies to realize their long-term value
potential. For more information, please go to
www.axarcapital.com.
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Media contact: pr@applieddatafinance.com