Marlette Funding, LLC, the owner of consumer lending platform Best Egg, announced on Monday the year-end results and key accomplishments for first quarter 2017. According to Marlette Funding, during the past year, Best Egg experienced origination growth of 66%, significantly reduced its customer acquisition costs, and ended 2017 with three straight quarters of net income positive on a GAAP basis. Best Egg has reportedly exceeded $5 billion of prime loans and celebrated its fourth birthday.
Launched in 2014, Marlette Funding, through its consumer brand Best Egg, describes itself as a financial technology provider on a mission to find better ways to make money accessible to allow people to “enjoy life.” Best Egg notably provides an online personal loan platform where qualified applicants can instantly view loan offers with no impact to their credit score and receive funds in as little as one business day. Best Egg also captures up to 5,000 distinct quantitative and qualitative attributes per customer, including more than 1500 proprietary credit attributes, applicant data, data from over 10 external data providers, “on-us” loan behaviors, the customer’s digital footprint, contact interactions, and survey data. Marlette stated:
“Best Off continued to deliver market leading credit results. The company’s assets have demonstrated class-leading performance, resulting in a diverse and stable funding model. As of the end of first quarter 2018, the company has sponsored five strongly subscribed securitization on behalf of their investors, totaling $1.7 billion.”
In the first quarter of 2018, Marlette announced its largest securitization to date and additions to its leadership team. Speaking about the company’s growth and development, CEO and Founder of Marlette, Jeffrey Meiler, added:
“Our defining challenge is humanizing the digital experience for financial products and services. To meet this challenge and provide an amazing customer experience, we have focused on building the business with big data, smart tools, better technologies, and sophisticated marketing. All of this enables us to make better decisions, and the overall perfjoamcne is reflected in our rising customer satisfaction scores and our market success to date.”