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Applied Data Finance Receives Upsize from Victory Park Capital, Secures $6.5MM in Additional Equity

June 02, 2017, 08:00 AM
Filed Under: Lender Finance

Applied Data Finance, LLC (ADF), a technology-enabled lender and asset manager, announced that investment firm Victory Park Capital (VPC) has increased its existing credit facility with ADF from $50 million to $75 million and extended it through 2021.

Additionally, ADF raised $6.5 million in a convertible note round from a combination of existing and new equity investors, increasing the total equity raised to $32.3 million.

“Victory Park has been a great partner for us, and we are pleased to renew and extend our relationship. This news, combined with the additional capital raised through the convertible note round will further strengthen our ability to serve the under-banked,” said Krishna Gopinathan, Founder, Co-Chief Executive Officer at ADF.

ADF will use the added debt and equity funding to continue to scale its successful Personify Financial online lending platform. Personify provides unsecured personal loans for underestimated underbanked consumers.

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