NYC-based Consumer lender Versara Lending has acquired the personal loan marketplace lender Peerform aiming to grow its prominence in the consumer lending space. Peerform will now operate out of the Versara Lending offices. At this writing, specific details of the deal are unavailable.
“This acquisition allows Versara to leverage Peerform’s exceptional history of growth and expertise in consumer marketplace lending,” stated Versara SVP of Lending An Phan. “We believe that Peerform will greatly contribute toward expanding our current capabilities, and accelerating our service and product offerings to benefit borrowers.”
Founded in 2010 by Wall Street executive Mikael Rapaport, Peerform targeted dependable borrowers whose needs were not being met by existing lenders, offering them personal loans up to $25,000. The consumer lending platform matches borrowers and investors through its proprietary Loan Analyzer tool.
“We are committed to continue the growth we’ve experienced since we started the company in 2010,”explained Rapaport, Founder and CEO of Peerform. “In order to realize our potential, it was important for us to build a strong strategic partnership. By joining Versara, we will be able to combine our resources to scale quickly to compete effectively in the consumer lending industry.”
Rapaport has joined the Versara Lending team as its SVP of Lending Markets at Strategic Financial Solutions.