Park Cities Asset Management Provides $30 Million of Debt Financing Commitments to Applied Data Finance
DALLAS, October 11, 2022–(BUSINESS WIRE)–Park Cities Asset Management, LLC (“Park Cities”), an alternative investment firm focused on providing flexible debt solutions, announced today that it has provided $30 million of debt capital commitments to Applied Data Finance (“ADF”). Through its Personify Financial platform, ADF offers underestimated Americans an affordable, responsible alternative for unsecured personal installment loans.
“We are pleased to provide this capital commitment to ADF and support the growth of ADF’s consumer loan portfolio,” said Alex Dunev, Managing Partner at Park Cities. “This investment reflects Park Cities’ confidence in ADF’s ability to serve the underestimated while providing an opportunity to work with a pioneer in the specialty finance lending industry.”
The financing was in addition to the company’s existing facility as ADF continues to provide consumers with credit using its own balance sheet. ADF will use the Park Cities capital commitment to continue to scale its successful Personify Financial online lending platform.
“At ADF, we aim to better meet the financial needs of underestimated Americans across the credit spectrum through our mastery of cutting-edge data science and technology and our commitment to mutual success,” said Krishna Gopinathan, Founder, Chief Executive Officer at ADF. “With the flexible financing provided by Park Cities, we look forward to continuing to grow by responsibly connecting consumers with capital.”
About Park Cities Asset Management
Park Cities Asset Management, LLC is an alternative credit manager focused on deploying capital across asset classes in the Specialty Finance and FinTech sectors. Park Cities and its predecessor firm have been investing for over a decade and is led by Alex Dunev and Andy Thomas. Park Cities provides investment advice through its SEC Registered Investment Advisor, Park Cities Advisors, LLC. For more information about Park Cities, please visit www.parkcitiesmgmt.com.
About Applied Data Finance
ADF, an Inc. 5000 company for three years running, is the trusted financial partner for tens of thousands of underestimated Americans. Combining state-of-the-art technology and world-class application of advanced data science and machine learning on its Personify Financial platform, ADF is setting a new standard for assessing near-prime and non-prime borrower credit and fraud risk. Learn more at www.applieddatafinance.com and www.personifyfinancial.com.
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