#United States #Fort Worth #Financial Solutions #Elevate Credit #Raven Capital

Elevate's Strategic Growth Through New Credit Facility

In a significant move to enhance its growth trajectory, Elevate, a Fort Worth-based provider of innovative online credit solutions, has successfully closed a $655 million credit facility. This financing marks a pivotal moment in the company's journey, allowing it to fortify its financial foundation and continue its mission of serving underserved consumers.

The closing of the facility is not just a financial milestone for Elevate but also a testament to the strength of its long-term partnerships and strategic vision. This funding will bolster Elevate's operational capacity, enhance its product portfolio, including offerings like RISE and Elastic, and reduce its capital costs, making the company more agile in a competitive marketplace.

Strengthening Partnerships and Expanding Capacity

Jason Harvison, Elevate's president and CEO, expressed enthusiasm regarding the new facility, stating, "This transaction highlights the scale of our platform and the strength of our long-standing partnerships." Key partners such as Raven Capital, Hudson Cove, and Bow River have consistently supported Elevate throughout its various growth phases, enabling the company to solidify its position as a leader in the online credit sector.

With this significant financial boost, Elevate will be able to better cater to the needs of more than 150 million Americans who have been underserved by traditional financial institutions. This commitment to accessibility and responsible lending is core to Elevate's mission as it continues to advance its innovative credit solutions.

About Elevate and Raven Capital

Elevate Credit, Inc. is dedicated to empowering customers through its tech-enabled online credit solutions, aiming to provide immediate relief and help users build brighter financial futures. As a majority-owned subsidiary of Catalyst Capital Acquisition Corp, acquired in 2023, Elevate has been actively investing in technology and product offerings that resonate with the needs of its clientele.

Raven Capital, an alternative investment firm founded in 2008, specializes in asset-based, non-sponsor private credit. This partnership with Elevate reflects Raven's commitment to facilitating the growth of companies that demonstrate potential for significant progress in their respective industries.

Future Prospects

The closure of this credit facility signifies not only a stronger financial structure for Elevate but also a commitment to disciplined growth and innovation in servicing consumers. By continuing to develop its offerings and enhancing its operational discipline, Elevate is poised to make impactful strides in the financial sector, focusing on responsible lending practices and community empowerment.

In summary, Elevate's successful closure of the $655 million credit facility marks a significant step towards reinforcing its operational framework, building on its existing partnerships, and promoting a culture of financial inclusion and empowerment.