LendStreet raises $7M in Series A + $110M in debt financing to scale consumer debt restructuring platform
LendStreet raised $7 million in Series A funding led by Prudential Financial Inc and Radicle Impact. LendStreet also raised $110 million in debt financing from Prudential and Community Investment Management. Prudential and Radicle join LendStreet’s existing investors Accion, the Center for Financial Services Innovation (CFSI), Serious Change, Crunchfund, Kapor Capital, and Cross Culture Ventures in participating in the round.
“Lower and middle-income Americans are struggling and relying on high interest credit cards for their day-to-day survival. These investments will enable us to scale our platform and reach more consumers who are struggling with too much debt,” said Jerry Nemorin, Founder and CEO, LendStreet. “Prudential, CIM, Radicle Impact, and our other investors share our vision of finally giving mainstream Americans access to an equitable and transparent alternative for their mounting credit card debt.”
Press: Business Insider, PE Hub, PR Newswire