West Creek, a U.S.-based fintech company that provides point-of-sale financing, announced on Thursday it secured a $150 million credit facility from Pollen Street Capital, bringing the company’s total credit facility capacity to $250 million. Founded in 2014, West Creek claims it focuses on using big data and technology to optimize underwriting, enable industry-leading approval rates.
“Our high approval rates lead to great customer experiences and maximum sales for our dealers.”
The company also noted that since 2015 its revenue has grown over 4,400% and will surpass $200 million for 2019. West Creek further explained it partners with over 8,000 retailers nationwide and has helped over 250,000 customers in purchasing essential items, including furniture, mattresses, appliances, tires, and HVAC systems.
Speaking about the credit facility, Rajesh Rao, CFO and CRO of West Creek, stated:
“This new credit facility represents a significant milestone for West Creek and allows us to continue to transform point-of-sale financing. We are laser-focused on delivering a superior financing experience for our retail partners and their customers through a combination of world-class customer support, technology, and data-science-driven credit decisioning.”
Lindsey McMurray, Founder and Managing Partner of Pollen Street Capital, then added:
“We are impressed with West Creek’s progress and growth to date and are excited to support its next expansion phase through the $150 million credit facility. We look forward to a strong, long-lasting partnership and believe that this sets a solid foundation for us to support West Creek in many other aspects.”