Park Cities Asset Management Provides $30M in Debt Funding 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, today announced that it has provided $30 million in dollars of debt capital commitments to Applied Data Finance (“ADF”). Through its Personify Financial platform, ADF offers undervalued Americans an affordable and responsible alternative to unsecured personal installment loans.
“We are delighted 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 underappreciated while providing the opportunity to work with a pioneer in the specialty financial lending industry.”
The financing was in addition to the company’s existing facility, as ADF continues to offer consumer credit using its own balance sheet. ADF will use Park Cities’ capital commitment to continue to scale its successful Personify Financial online lending platform.
“At ADF, we aim to better serve the financial needs of underappreciated 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 and CEO of ADF. “With the flexible financing provided by Park Cities, we look forward to continuing our growth by responsibly connecting consumers to capital.”
About Park Cities Asset Management
Park Cities Asset Management, LLC is an alternative credit manager focused on deploying capital across all asset classes in the specialty finance and FinTech industries. Park Cities and its predecessor have been investing for over a decade and are led by Alex Dunev and Andy Thomas. Park Cities provides investment advice through its SEC-registered investment adviser, Park Cities Advisors, LLC. For more information about Park Cities, please visit www.parkcitiesmgmt.com.
About Applied Data Funding
ADF, an Inc. 5000 company for three consecutive years, is the trusted financial partner of tens of thousands of underappreciated Americans. Combining state-of-the-art technology and a cutting-edge application of data science and machine learning on its Personify Financial platform, ADF is setting a new standard for credit and fraud risk assessment of near-prime and non-prime borrowers. -prime. For more information, visit www.applieddatafinance.com and www.personifyfinancial.com.
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