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Warburg Pincus – lendingpoint 125m pincusann azevedofinledger
Founded in New York City in 1966, Warburg Pincus is one of the largest private equity firms in the world, managing $60 billion. The firm has been active in China for over 25 years, investing in more than 120 startups. In 1980, it was the first firm to raise a fund of $100 million USD, and has since racked up a record $11 billion in investments. The firm is also a significant investor in Southeast Asia, having established a presence in Vietnam, Indonesia and Taiwan.
The company has made a number of notable investments, including its own financial products, NIO, and the ZTO Express courier firm. In the TMT space, it has invested in China’s Ant Financial, which is the largest publicly-traded Chinese financial services firm. The company also aims to be a major investor in real estate and healthcare, as well as the financial and TMT sectors in Southeast Asia.
Founded in January 2015, LendingPoint is a direct balance-sheet consumer lender that has grown at a healthy pace. The company’s leadership team has combined more than a century of experience in risk and credit. In 2017, LendingPoint made $250 million in loans to consumers. Its top management is comprised of former employees of CAN Capital, a leading provider of small business loans.
The company claims to go beyond FICO scores. It specializes in “near prime” clientele, which are those personal-loan applicants with FICO scores from 600 to 700. LendingPoint claims to focus on applicant’s sense of fiscal responsibility, which is a factor that helps boost a borrower’s credit score. LendingPoint also aims to provide loans to applicants who don’t qualify for traditional credit products.
LendingPoint was self-funded for the first year. In 2016, LendingPoint did $150 million in business. The company has also been expanding at a rapid rate, with over 250 million loans to consumers made in 2017. It is staffed by former CAN Capital employees.