West Creek Secures $150 Million Credit Facility
The fintech company West Creek‘s capital raise brings its total credit facility capacity to $250 million.
FREMONT, CA: A fast-growing fintech company that provides innovative point-of-sale financing, West Creek has secured a $150 million credit facility from Pollen Street Capital, bringing West Creek’s total credit facility capacity to $250 million. This expanded capacity enables West Creek to uphold its speedy growth.
West Creek’s revenue has grown over 4,400 percent since 2015, and will also surpass $200 million for 2019. West Creek collaborates with over 8,000 retailers across the world. They have helped more than 250,000 customers in purchasing essential items, such as furniture, mattresses, appliances, tires, and HVAC systems.
Chief Financial Officer and Chief Risk Officer, Rajesh Rao says that the new credit facility represents a significant milestone for West Creek and allows them to continue to transform point-of-sale financing. He also said that they are laser-focused on delivering a superior financing experience for their retail partners and their customers through a combination of world-class customer support, technology, and data-science-driven credit decisions.
Lindsey McMurray, founder and managing partner of Pollen Street Capital, is impressed with West Creek’s progress and growth to date and are excited to support its next expansion phase through the $150 million credit facility. The company is also looking forward to a robust and long-lasting partnership and believes that this sets a solid foundation for them to support West Creek in many other aspects.
Established in 2014, West Creek helps consumers make life-essential, big-ticket purchases. The company employs more than 200 associates and recently earned the 65th spot on Inc. The company leverages big data and machine learning to optimize its credit modeling and underwriting, enabling them to deliver industry-leading approval rates and amounts. West Creek was constructed on a base of excellent client service, which continues to be a pillar of their business today, and one of the main reasons for their success.
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