SaaS-based loan management services provider LoanPro has raised a $100 million growth equity investment from FTV Capital. The investment targets platform improvements and business expansion.
LoanPro was founded in 2014 by Rhett, Ben and Lloyd Roberts, who originally developed the software for their own lending business. It has more than $15 billion of loans under management and 600-plus clients in the United States and Canada. The software offers automated and configurable workflows, real-time data insights, frictionless payment collections, and the integration of new products.
“As founders who started out as lenders, we understand the pain points that lenders experience,” said CEO Rhett Roberts. “LoanPro was built by lenders for lenders—we use a modern tech stack to simplify the user experience of managing loans—we do the hard work on the back end to make the front end clean and simple to use. FTV Capital’s investment, in addition to their extensive market knowledge and vast strategic network, will help us grow our platform and accelerate our ability to reach and successfully serve even more lenders.”
LoanPro believes it can access a growing market of fintechs wishing to add lending services to their portfolios but not wanting to deploy cumbersome legacy technologies
“FTV Capital is excited to partner with LoanPro’s strong, passionate leadership team who have built an industry leading SaaS platform based on a deep understanding of their market and the needs of their customers,” said Robert Anderson, partner at FTV Capital. “LoanPro addresses the inefficiencies created by manual processes and outdated legacy systems by offering a fully cloud-based solution, with an API first core architecture, that enables real-time monitoring, management and automation for the entire lifecycle of a loan. The platform’s data model provides an instantly accessible, single source of truth for loan servicing data, driving significant efficiencies for lenders of all types.”
