Lending software program supplier Lendscape has obtained a “vital funding” from personal fairness agency Bowmark Capital, which is able to help the corporate’s enlargement plans.
Lendscape supplies expertise to greater than 120 banks and monetary establishments worldwide, to help their secured industrial finance choices.
It stated that Bowmark’s funding – the dimensions of which was not disclosed – will assist the corporate develop organically and by acquisition.
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Based in 1972, Lendscape’s platform helps the administration of over $200bn (£153bn) of lending yearly.
“Having constructed Lendscape into a number one international software program supplier over the past 5 many years, we’re uniquely positioned to proceed our sturdy observe document of development,” stated Tony Davison, founder and chairman of Lendscape. “Bowmark shares our imaginative and prescient for the enterprise and, with their assist and help, we’ll speed up our plans for innovation and enhance our international attain, bringing superior expertise options to extra secured finance suppliers worldwide.”
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“Bowmark’s funding will assist us to form the way forward for industrial lending and allow suppliers to maintain tempo with clients’ evolving wants,” stated Kevin Day, chief govt at Lendscape. “As demonstrated by our new, cloud-native asset finance resolution, expertise can raise the executive burden and enhance effectivity, in addition to giving finance suppliers the flexibleness to scale their operations and tailor merchandise for his or her clients.”
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