“We look forward to being a substantial loan purchaser and financing partner as ADF executes on its vision to support consumers abandoned by traditional banks.”
Mr. Conrads added ADF has a unique combination of attributes likely to help them succeed in the marketplace.
“There is a clear market need for unsecured finance that few players in the industry are structured to provide. We believe that Krishna (Gopinathan, ADF Co-CEO) and the management team at ADF, with over 20 years of experience in predictive analytics and data science, have a formula that will allow the company to become a leader in this field.”
Via consumer brand Personify Financial ADF provides credit to near-prime and sub-prime consumers using proprietary analytics which incorporate more data sets not considered by traditional lenders. Levered and unlevered options are both available.
There is likely more agreements to come. ADF said in a release they have several similar partnerships in development.
Colchis is joined by Victory Park Capital, who earlier this year made an equity investment in ADF and also provided a credit facility.
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