Former Altus Power Co-CEO Adds to the
Leadership of Rapidly-Growing Student Finance
Firm
NEW
YORK, June 18, 2024 /PRNewswire/ -- Edly, Inc. –
a leading fintech platform that allows investors to participate in
funding solutions for students and college athletes – today
announced the appointment of Lars
Norell as Executive Chairman. In this capacity, Norell, the
founder and former co-CEO of Altus
Power (NYSE: AMPS), will provide added leadership to Edly as
it continues to rapidly expand its innovative funding solutions to
capital providers, students, athletes and schools.
Norell brings more than three decades of experience in building
and growing businesses in capital markets and asset origination,
and will apply his knowledge and expertise to help further scale
Edly's offering among users on each side of its two-sided
marketplace.
"We are thrilled to welcome Lars to the Edly team," said
Chris Ricciardi, CEO of Edly, "As
the Edly platform continues to attract significant interest from
capital providers, students and schools, this is the ideal moment
to more fully leverage Lars' decades of unique experience. Having
grown multiple successful businesses from startup to large scale –
including going public – there is perhaps no one better suited to
help lead our team as we continue our mission to provide flexible
and attractive funding to students and student-athletes."
In prior executive roles at Credit Suisse, Merrill Lynch and
Cohen & Company, Norell pioneered multiple unique structured
credit products that ultimately became industry staples. Most
recently, Norell co-founded Altus
Power, helping grow the company from a startup to a public
company with a market cap of more than $500
million. Before being appointed Executive Chairman, Norell
was an early investor in Edly through his investment company, Start
Capital. He has also been a non-executive director on the Edly
board since the company's inception in 2019.
"Chris has built an incredible platform and assembled a very
strong team at Edly, and our board looks forward to providing
additional leadership and support for the significant growth that
lies ahead," said Norell. "Edly is recognized as being both
investor-friendly to capital providers and accessible and
attractive to students and college athletes. With our current
growth of asset flow we will look to capture a greater share of the
market going forward."
About Edly
Edly is a thought leader in helping shape a better way to
provide education financing. Edly pioneered the concept of
"outcomes-based" lending for private student loans, which aligns
the interests of students, schools and investors. In 2023, Edly
also introduced an innovative Name, Image and Likeness (NIL)
funding solution (NILLY) for student-athletes that utilizes the
Edly platform. Co-founded by NBA champion and ESPN analyst
Kendrick Perkins, NILLY has already
provided NIL funding for multiple athletes and has garnered
significant attention from high-profile athletes, investors and the
media.
About Start Capital
Start Capital invests in re-industrialization, supporting growth
and innovation in the power, industry, and education sectors.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/startup-veteran-and-structured-finance-pioneer-lars-norell-joins-edly-as-executive-chairman-302175449.html
SOURCE Edly, Inc.