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Atlanta based alternative credit buerau, FactorTrust, closed a $42m investment led by ABS Capital Partners and MissionOG, both late stage growth investors. With the investment, FactorTrust will accelerate its growth and expand its suite of offerings to enable lenders to drive desired business results in a challenging compliance environment.
Over the past two years, FactorTrust has experienced tremendous growth. With more than 200 million loan transaction records, the company’s proprietary credit risk and consumer data is also growing at an impressive rate. FactorTrust is adding more than 350,000 new unique consumers per month to the database, while revenues have more than doubled year-over-year. “Powered by this investment, along with the knowledge and relationships of the entire ABS Capital and MissionOG teams, including Heller and Lockhart, we are in the best position to scale the success of our FactorTrust data and analytics infrastructure to create innovative solutions that meet the industry’s rising needs within the lending landscape,” Rable concluded.
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