The company has developed a financial technology platform that provides financing origination solutions for our e-commerce and point of sale partners, lending institutions, and consumers.
CEO Tom Burnside co-founded LendingPoint in 2014 alongside Franck Fatras, Victor Pacheco, and Juan Tavares. They launched the company based on the premise “that the U.S. credit scoring system is imperfect and leaves many individuals underserved and overlooked, forcing people to rely on payday lending”… “We wanted to make a difference in the marketplace, so LendingPoint used data and technology to tell a more accurate credit story about customers to help them get a fair and equitable financing solution.”
Today, the company’s fraud prevention, risk, and asset management algorithms are used to create financing opportunities across the full credit spectrum. For example, its LendingPoint Merchant Solutions platform provides e-commerce platforms, merchants, and other service providers what the company describes as “fully integrated, one-stop buy now, pay later financing solutions” to convert more customers for products like Invisalign, for example.