Fintech Alchemy Tops $100 Million Loans Facilitated via White Label Platform

Alchemy, a Fintech that provides customizable, out of the box lending white label software, has topped $100 million in loans facilitated by the platform. The news was revealed in a blog post today by the company.

Alchemy caters to both traditional banks and newer Fintechs to streamline the “Lending as a Service” (LaaS) process. Today, frequently online lenders will outsource the tech stack to provide services.

According to the blog post, Alchemy continues to see growth in various verticals in the lending market:

“We’ve seen a lot of growth in point of sale financing and student lending market. As consumers seeking to upskill themselves and going back to school in light of COVID19, we’ve seen a significant uptick in applicants seeking tuition financing. We have also seen a significant amount of growth in retail lenders seeking online options. We have been working diligently to building out hybrid retail and online platforms to accelerate our customer’s digital strategy. We project to double our processing volume again in the next few months.”

Crowdfund Insider reached out to founder and CEO Timothy Li, a CI Senior Contributor, for a comment:

“For the past 18 months, we’ve been onboarding multiple lenders per month at a breakneck speed. Our white-labeled strategy is paying off with a sharp focus on product engineering. Our team has been enhancing multiple core functionalities allowing for even more customization for any type of lenders. I am proud of our achievement and looking to double our volume in the next few months.”

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