Elevate

others

STATUS: Acquired/Merged
FOUNDING YEAR: 2007
LOCATION: Hong Kong
Last Update: 17/07/2020

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About

Elevate (NYSE: ELVT) has originated $5.9 billion in non-prime credit to more than 2 million non-prime consumers to date and has saved its customers more than $4 billion versus the cost of payday loans. Its responsible, tech-enabled online credit solutions provide immediate relief to customers today and help them build a brighter financial future. The company is committed to rewarding borrowers good financial behavior with features like interest rates that can go down over time, free financial training and free credit monitoring. Elevates suite of groundbreaking credit products includes RISE, Sunny, Elastic, and Today Card. For more information, please visit http://www.elevate.com.

MEDICI Analysis

Elevate support growth-stage startups by helping on brand strategy & product design process.

Focus

PRODUCTS & SERVICES

Online credit products development platform

MAIN CLIENTS

Retail borrowers

COMMENT

The company claims that it has originated $4 billion in nonprime credit to more than 1.6 million consumers till now (Apr 2017).

People

NUMBER OF EMPLOYEES

201-500

INVESTORS:

Sequoia Capital

Startup Capital Ventures

Technology Crossover Ventures

Victory Park Capital

KEY EMPLOYEES:

Ken Rees(CEO); Chris Lutes(CFO); Walt Ramsey(CCO);Jason Harvison(COO)

Momentum

FUNDED

NO

TOTAL FUNDING COMMENT

The company recently open for IPO in 7th April 2017.

LISTED

NO

COMMENT

Cumulative debt financing: $615 M (Jul 2016) and an undisclosed venture fund raised in May 2014.

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