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Platinum Auto Secures $100 Million Credit Facility from Fortress through Finitive Platform

NEW YORK, July 8th, 2019 – Finitive (www.finitive.com), a financial technology platform providing institutional investors with direct access to alternative lending investments, announced today the closing of a $100 million senior secured warehouse line of credit for its client, Platinum Auto of Tampa Bay (www.platinumautofinance.com). The facility, which includes an accordion to expand to $150 million, was provided by investment funds managed by an affiliate of Fortress Investment Group LLC, an investment manager with approximately $40 billion of assets under management as of March 31, 2019.  
 
The facility will be used by Platinum to refinance existing debt, fund new originations, and acquire secondary portfolios from other auto lenders. In conjunction with the transaction, Platinum also secured a $15 million term loan from a New York-based fund to support its operating and working capital needs.  
 
“Through the Finitive platform we were able to efficiently identify several potential financing sources and satisfy needs across our capital structure,” said Michael Kaplanis, CEO of Platinum. “These two credit facilities have substantially expanded our financial capacity and flexibility which will fuel our growth going forward.”
 
Platinum, headquartered in Clearwater, Florida, purchases auto loan contracts from a network of over 300 auto dealers in the southeast region of the United States. Since its founding in 2012, Platinum has purchased over $140 million of auto loans through its core point of sale strategy, as well as bulk portfolio purchases.  
 
 
About Finitive
Finitive is a financial technology platform providing institutional investors with direct access to alternative lending investments. Through Finitive, institutional investors access a multi-trillion-dollar market that encompasses a broad spectrum of non-bank lending sectors, including specialty finance, online lending, marketplace lending, and private credit funds. Finitive’s originator partners gain efficient access to a global network of investors who are actively allocating to alternative lending. All regulated activities are conducted through North Capital Private Securities, a registered broker-dealer and member FINRA/SIPC. For additional information, please visit Finitive’s website at www.finitive.com.
 

Media Inquiries:
press@finitive.com

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Finitive Raises $6 Million Series Seed Round Led by Atomic Labs

NEW YORK,  April 29, 2019 – Finitive (www.finitive.com), a financial technology platform providing institutional investors with direct access to alternative lending investments, announced today that the firm raised approximately $6 million in a series seed financing. The round was led by Atomic Labs (www.atomic.vc) with participation from Ninepoint Partners – one of Canada’s leading private credit fund managers – as well as other investors and members of the management team.
 
Through Finitive, institutional investors access a multi-trillion-dollar market that encompasses a broad spectrum of non-bank lending sectors, including specialty finance, online lending, marketplace lending, and private credit funds. 
 
“We are excited to partner with Atomic, one of Silicon Valley’s premier incubators, in furthering our mission to make raising and investing capital into alternative lending fast and easy,” said Jon Barlow, Finitive’s CEO and founder. 
 
Finitive will use the funds to further develop its platform to pursue strategic machine learning, artificial intelligence, workflow automation, and data analytics initiatives.
 
“Finitive’s technology platform improves the investor and originator experiences by accelerating closing speeds and lowering transactions costs,” said Jack Abraham, Founder and Managing Partner at Atomic Labs. “Finitive’s rapid growth, coupled with our first-hand experience raising capital through the platform for one of our portfolio companies, proved to us the value of Finitive’s tech-enabled services and extensive investor network on the platform.”
 
About Finitive
Headquartered in New York, Finitive is a financial technology platform providing institutional investors with direct access to alternative lending investments. Through Finitive, institutional investors access a multi-trillion-dollar market that encompasses a broad spectrum of non-bank lending sectors, including specialty finance, online lending, marketplace lending, and private credit funds. Finitive’s originator partners gain efficient access to a global network of investors who actively allocate to alternative lending. Since its founding in August 2017, Finitive has facilitated over $1.5 billion in capital commitments from top-tier investors. All regulated activities are conducted through North Capital Private Securities, a registered broker-dealer and member FINRA/SIPC. For additional information, please visit Finitive’s website at www.finitive.com.
 
Media Inquiries
Robert Klemens, Prosek Partners
rklemens@prosek.com
+1 (646) 818-9009
OR
press@finitive.com

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Finitive Announces Expansion of Senior Leadership Team

NEW YORK,  January 14, 2019 – Finitive (www.finitive.com), a financial technology platform providing institutional investors with direct access to alternative lending investments, announced today that the firm has appointed Steven Lee to lead the company’s San Francisco office and Guido Geissler as head of capital markets based in New York.
“The rapid expansion of our platform over the last several months has required us to add to our team of senior investment professionals,” said Jon Barlow, Founder and Executive Chairman at Finitive. “We are extremely fortunate that Steve and Guido have joined our team, and we look forward to their contributions.”
Prior to Finitive, Steven Lee worked as Partner, Chief Investment Officer, and Portfolio Manager at Eaglewood Capital Management, where he led the effort to pioneer Eaglewood’s software and algorithms to enable programmatic analysis and purchasing of loans in the online lending sector. As CIO, Steve managed Eaglewood’s $2 billion alternative lending investment portfolio.
“Steve’s long-time experience in credit investments and his exposure to multiple alternative lenders will greatly benefit Finitive as we continue to scale,” Barlow added. “Steve is ideally suited to lead our efforts from the West Coast as we continue building our global leadership team.”
Geissler will lead Finitive’s capital markets efforts. His responsibilities will include identifying and developing new origination partners, creating and optimizing new financing solutions, and providing institutional investors with access to alternative lending opportunities.
"Guido’s deep experience in structured finance at leading financial institutions and his relationships with many institutional investors are extremely valuable to our platform as we continue to grow our origination and placement activities and optimize the financing solutions we provide our clients," said Christopher Johnson, CEO at Finitive.
Geissler brings more than 13 years of industry experience to Finitive. Most recently, he worked at Macquarie’s Credit Market Division in New York where he helped build Macquarie’s online lending and alternative credit principal finance business.
 
About Finitive
Finitive is a financial technology platform providing institutional investors with direct access to alternative lending investments. Through Finitive, institutional investors access a multi-trillion-dollar market that encompasses a broad spectrum of non-bank lending sectors, including specialty finance, online lending, marketplace lending, and private credit funds.  Finitive’s originator partners gain efficient access to a global network of investors who actively allocate to alternative lending. All regulated activities are conducted through North Capital Private Securities, a registered broker-dealer and member FINRA/SIPC. For additional information, please visit Finitive’s website at www.finitive.com.
 
Media Inquiries:
Robert Klemens, Prosek Partners
rklemens@prosek.com
+1 (646) 818-9009
OR
press@finitive.com
 

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Finitive Appoints Neil Wolfson to Board of Directors

NEW YORK, December 10, 2018 – Finitive (www.finitive.com), a financial technology platform providing institutional investors with direct access to alternative lending investments, announced today that seasoned fintech investor and executive Neil Wolfson has joined Finitive’s board of directors.
 
Neil Wolfson, who has significant public company board experience, spent the last decade as President and CIO of SF Capital Group. In this role he oversaw all debt and equity investing, asset allocation, and investment management for the billion-dollar multi-generational family office. At SF Capital he invested in over 30 direct debt and equity investments in emerging technology companies with a focus on FinTech companies.
 
"Finitive has established an innovative platform to provide institutional investors with direct access to alternative lending investments," said Wolfson. "Finitive’s platform brings further transparency to this asset class."
 
Prior to joining SF Capital Group, Neil spent five years as Chief Investment Officer and President of Wilmington Trust Investment Management, a $40 billion investment management firm, where he was responsible for the firm’s investment management activities. Prior to Wilmington Trust, Neil was the National Partner in charge of KPMG’s Investment Consulting Practice, representing over $100 billion of assets.
 
“Neil’s experience investing in global technology companies, coupled with a deep understanding of alternative lending markets, makes him an ideal fit for Finitive’s board,” said Jon Barlow, Founder and Executive Chairman at Finitive. “We have a long history of strong partnership as Neil served on the board of directors at my prior company and was influential in developing its strategic direction leading up to its acquisition.”
 
Neil also serves on the Board of Directors for OnDeck (ONDK), including as Chair of the Audit Committee and Member of the Risk Committee, FastPay, Nextivity, Lenda, Patch of Land, and TodayTix.
 
About Finitive
Finitive is a financial technology platform providing institutional investors with direct access to alternative lending investments. Through Finitive, institutional investors access a multi-trillion-dollar market that encompasses a broad spectrum of non-bank lending sectors, including specialty finance, online lending, marketplace lending, and private credit funds.  Finitive’s originator partners gain efficient access to a global network of investors who actively allocate to alternative lending. All regulated activities are conducted through North Capital Private Securities, a registered broker-dealer and member FINRA/SIPC. For additional information, please visit Finitive’s website at www.finitive.com.
 
Media Inquiries
Robert Klemens, Prosek Partners
rklemens@prosek.com
+1 (646) 818-9009
OR
press@finitive.com

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Finitive Taps CEO Of First Associates As Strategic Advisor

David Johnson brings 25+ years of experience to growing financial technology platform
 
NEW YORK, Nov. 12, 2018 -- Finitive (www.finitive.com), a financial technology platform providing institutional investors with direct access to alternative lending investments, announced today that David Johnson, CEO of First Associates, has joined its advisory board.  First Associates is the fastest growing loan servicer in the country and a leader in the application of AI strategies in private credit markets. As an industry leader in the loan servicing and fintech sectors, Johnson will advise Finitive on artificial intelligence, strategic initiatives and operations. 
"I have known the Finitive team for many years, and admire the leading and innovative role they continue to play in institutionalizing the alternative lending sector," said Johnson. "Finitive's technology platform solves a major industry problem by making capital raising and investing into this highly inefficient market simple."
Johnson has over 25 years of experience across various industries including technology, finance and artificial intelligence that gives him unique insight into today's financial landscape.
"David shares Finitive's vision of bringing innovation, speed and transparency to the alternative lending industry," said Jon Barlow, Founder and Executive Chairman of Finitive. "His understanding of such rapidly evolving industries will prove indispensable as Finitive continues to scale."
Prior to First Associates, Johnson worked at McKinsey & Company and Bain & Company. He earned his MBA from the Stanford University Graduate School of Business and BS from UC Berkeley.
 
About Finitive
Finitive is a financial technology platform providing institutional investors with direct access to alternative lending investments. Through Finitive, institutional investors access a multi-trillion-dollar market that encompasses a broad spectrum of non-bank lending sectors, including specialty finance, online lending, marketplace lending, and private credit funds.  Finitive's originator partners gain efficient access to a global network of investors who are actively allocating to alternative lending. All regulated activities are conducted through North Capital Private Securities, a registered broker-dealer and member FINRA/SIPC. For additional information, please visit Finitive's website at www.finitive.com.
 
Media Inquiries:

Robert Klemens, Prosek Partners
rklemens@prosek.com 
+1 (646) 503-6271
OR
press@finitive.com
 

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Finitive Facilitates $50 Million Warehouse Line of Credit for Bungalow

NEW YORK, Sept. 6, 2018 -- Finitive (www.finitive.com), a financial technology platform providing institutional investors with direct access to alternative lending investments, announced today the closing of a $50 million senior secured warehouse credit facility for Bungalow (bungalow.com). This transaction was the first of its kind in the co-living sector.
Christopher Johnson, Finitive's CEO and co-founder, said, "Finitive's proprietary technology platform accelerated the closing of this novel and complex transaction by connecting Bungalow to an extensive investor network and providing direct access to comprehensive investment memorandums, detailed data rooms and transaction structure documents."
Bungalow, headquartered in San Francisco, is a new residential real estate platform that delivers an improved rental experience for early career professionals searching for housing in urban markets. Founded in 2017 by Andrew Collins and Justin McCarty, the company is taking on the $650 billion rental market for early career professionals. Bungalow has scaled to hundreds of properties and over 750 residents across seven metro areas including: The Bay Area, Los Angeles, New York, Washington DC, San Diego, Portland and Seattle. Bungalow recently completed a Series A financing round from Khosla Ventures, Atomic VC, Cherubic Ventures, Founders Fund and Wing Ventures.
"Finitive's unique financing solution enables Bungalow to leverage our assets to quickly scale without equity dilution. We received multiple term sheets in a short period of time, giving us choices in selecting the best partner for our business," said Andrew Collins, co-founder and CEO of Bungalow.
North Capital Private Securities was the broker-dealer for the transaction.  
 
About Finitive
Finitive is a financial technology platform providing institutional investors with direct access to alternative lending investments. Through Finitive, institutional investors access a multi-trillion-dollar market that encompasses a broad spectrum of non-bank lending sectors, including specialty finance, online lending, marketplace lending, and private credit funds.  Finitive's originator partners gain efficient access to a global network of investors who are actively allocating to alternative lending. All regulated activities are conducted through North Capital Private Securities, a registered broker-dealer and member FINRA/SIPC. For additional information, please visit Finitive's website at www.finitive.com.
 
About Bungalow Living

Bungalow is a residential real estate platform providing beautiful homes with great roommates, paired with a seamless digital-first experience for early career professionals. The company takes care of everything from matching great roommates and furnishing a home's common areas to streamlining rent and utilities payments and handling service requests, removing friction from the rental experience. In addition, Bungalow helps its residents create a thriving community through exclusive social events and volunteer opportunities. Bungalow is able to offer rooms in the most desirable neighborhoods by working directly with homeowners who are looking for a guaranteed income stream but don't want to sell their homes. This model has helped Bungalow scale to hundreds of homes within a year. Founded in 2017 by Andrew Collins and Justin McCarty, the company currently has more than 750 housemates in hundreds of homes across seven markets. For more information visit bungalow.com.
 
Media Inquiries:
Robert Klemens, Prosek Partners
rklemens@prosek.com
+1 (646) 503-6271
OR
press@finitive.com

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Finitive Launches Alternative Lending Investment Platform with $1.3 Billion of Initial Transaction Volume

Initial platform transactions will focus on the consumer, renewable energy and commercial real estate lending sectors
NEW YORK, April 10th, 2018 – Finitive LLC (www.finitive.com), a financial technology platform providing institutional investors with direct access to alternative lending investments, announced today the launch of its zero-fee platform. Finitive, which commenced operations in August 2017, has received commitments for transactions with an aggregate capacity of $1.3 billion. Several asset managers and banks have committed capital for transactions in the consumer, renewable energy and commercial real estate lending sectors.
“Alternative lending is a global, fast growing, multi-trillion-dollar asset class which remains highly inefficient, as investments require a lengthy and complex due diligence process. The sector is poised for change,” said Jon Barlow, Finitive’s Executive Chairman and founder. “Finitive’s platform utilizes technology and artificial intelligence to make investing and raising capital in the sector simple and efficient, substantially reducing the amount of time and money that market participants – both investors and originators – spend closing transactions.”
Through Finitive, banks, insurance companies, fund managers and institutional investors directly access proprietary, alternative lending transactions that are vetted by a team of senior credit professionals with substantial portfolio management experience at top tier credit funds. The Finitive platform provides investors with access to comprehensive investment memos, detailed data rooms, and Finitive shadow ratings, all of which bring greater transparency to traditionally opaque investment opportunities in the alternative lending sector, accelerating and simplifying the investor’s due diligence process. Investors do not pay fees to Finitive.
Originators in the alternative lending sector, including specialty finance companies, online lenders, and private credit funds, are able to access large amounts of capital through Finitive’s global network of investors who actively allocate to alternative lending. The Finitive platform allows its originator partners to raise capital across multiple asset classes and geographies for various transaction types, such as forward flow and whole loan sale programs, warehouse lines, and term loans.
 
About Finitive
Finitive is a financial technology platform providing institutional investors with turnkey, zero-fee access to alternative lending investments. Through Finitive, institutional investors access a multi-trillion-dollar market that encompasses a broad spectrum of non-bank lending sectors, including specialty finance, online lending, marketplace lending, and private credit funds. Finitive’s originator partners gain efficient access to a global network of investors who are actively allocating to alternative lending. All regulated activities are conducted through North Capital Private Securities, member FINRA/SIPC. For additional information, please visit Finitive’s website at www.finitive.com.
Media Inquiries: Robert Klemens, Prosek Partners
rklemens@prosek.com
+1 (646) 503-6271 OR press@finitive.com