Thrive Financial, a Virginia-based technology platform for point-of-sale financing of home improvement projects, has announced an upsizing of its financing facility with Macquarie Group.
The company said the expanded financing arrangement increases its borrowing capacity and provides additional capital to back its forward-flow agreements.
Thrive Financial CEO and co-founder Jasjeev Sawhney said, “Macquarie has been a fantastic partner thus far, and Thrive is excited to deepen our relationship as we build a modern home improvement lending platform.
“Increasing our borrowing capacity is a logical next step as Thrive implements solutions to support our merchant partners and serve homeowners with efficient, technology driven financing solutions.”
The financing was provided by Macquarie’s New York-based Fixed Income and Currencies team, within the company’s Commodities and Global Markets business.
Macquarie senior managing director Eli Nafisi said, “We are pleased to support Thrive with this upsized financing facility. This expanded facility reflects Macquarie’s ability to structure financing solutions across a range of asset classes to drive growth. We look forward to supporting Thrive expand its origination and lending capabilities.”
Thrive Financial is a technology platform that connects home improvement merchants, consumers and financial institutions, offering a suite of point-of-sale financing products via partner banks.
The company combines high approval rates with analytics, risk management and servicing solutions designed to help merchants grow their business and broaden access to credit for homeowners.
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