Oakland based online consumer debt restructuring and consolidation platform has raised $7m of Series A led by Prudential Financial and Radicle Impact. The company has also raised $110m in debt financing from Prudential and Community Investment Management (CIM).
"Lower and middle-income Americans are struggling and relying on high interest credit cards for their day-to-day survival. These investments will enable us to scale our platform and reach more consumers who are struggling with too much debt," said Jerry Nemorin, Founder and CEO, LendStreet. "Prudential, CIM, Radicle Impact, and our other investors share our vision of finally giving mainstream Americans access to an equitable and transparent alternative for their mounting credit card debt."