Alternative credit bureau FactorTrust scores $42 mln
Atlanta-based alternative credit bureau FactorTrust has secured $42 million in funding. ABS Capital Partners and MissionOG led the round. In conjunction with the investment, FactorTrust has named Michael Heller, MissionOG advisor, as president and board member; Gene Lockhart, chairman and managing partner of MissionOG, as FactorTrust’s board chair; and Phil Clough, managing general partner at ABS Capital, as board member.
ATLANTA–(BUSINESS WIRE)–FactorTrust, the alternative credit bureau, announced today that Michael Heller, an information and analytics industry leader, has joined as president. The company also closed on a $42 million investment led by ABS Capital Partners, a leading late-stage growth company investor, and MissionOG, a leading early to growth stage investor. With the investment, FactorTrust will accelerate its growth and expand its suite of offerings to enable lenders to drive desired business results in a challenging compliance environment.
Founded nine years ago, FactorTrust provides solutions that utilize rich, proprietary data not available from traditional credit bureaus, and are driven by a strong technology platform and best-in-class predictive analytics. The company continues to see tremendous demand for its products as they enable lenders to more accurately assess credit risk for non-prime and underbanked consumers, while also providing consumers with the credit options they seek and deserve.
ABS Capital Partners and MissionOG bring deep industry expertise and understand the increased need for the type of data and scores provided by FactorTrust. After reviewing a number of companies in the alternative data landscape, they selected FactorTrust because of its significant potential for growth and expansion.