NEW YORK, May 19, 2021 /PRNewswire/ -- Finitive, the
leading data-driven private credit marketplace that provides
institutional investors with direct access to private credit
transactions, today announced that it has received a capital
investment from Sterling Bancorp (NYSE:STL). Finitive will use the
new capital to accelerate the growth of its automated platform for
facilitating private credit transactions.
"Finitive is thrilled to welcome Sterling Bancorp as an investor
and strategic partner in our mission to streamline and simplify the
process of connecting lenders and borrowers in private credit
transactions," said Jon Barlow, CEO
of Finitive. "We are excited about the synergies between our two
companies. Finitive will deploy the new capital from Sterling to
advance our business providing digitized deal sourcing, screening
and due diligence for investors and easier access to debt financing
for borrowers."
Using technology and data to match institutional investors with
private credit opportunities, Finitive provides investors with
access to a multi-trillion-dollar market that spans a broad
spectrum of sectors, including specialty finance, online lending,
marketplace lending and private credit funds. Through Finitive,
borrowers can connect with a global network of institutional
investors that can facilitate efficient access to
capital.
The investment reflects Sterling's strategic commitment to
partnering with innovative fintech companies that can accelerate
the expansion of Sterling's digital offerings while delivering
long-term growth.
"We are delighted to make this investment in Finitive. We
believe, as they do, that technology and data can remove friction
in the private credit market and in the lending market more
generally, providing borrowers with the capital they need to grow
their businesses," said Bea Ordonez,
Chief Financial Officer at Sterling Bancorp. "This marks the latest
in a series of strategic partnerships and technology investments
that will contribute to our ongoing digital transformation."
Lenders and borrowers can register on Finitive's platform at
www.finitive.com.
About Finitive
Finitive is the leading data-driven
private credit marketplace. Through its tech-enabled platform,
institutional investors access a multi-trillion-dollar market of
private credit opportunities across multiple asset classes and
structures, including specialty finance, online lending,
marketplace lending, and private credit funds. Borrowers gain
efficient access to capital via a global network of investors who
are actively allocating to private credit. All regulated activities
are conducted through North Capital Private Securities, a
registered broker-dealer and member FINRA/SIPC. For additional
information, please visit Finitive's website
at www.finitive.com.
About Sterling Bancorp
Sterling Bancorp, whose
principal subsidiary is Sterling National
Bank, specializes in the delivery of services and solutions
to business owners, their families and consumers within the
communities it serves through teams of dedicated and experienced
relationship managers. Sterling National
Bank offers a complete line of commercial, business, and
consumer banking products and services. For more information, visit
the Sterling Bancorp website at www.sterlingbancorp.com.
Media Contact:
Patty
Buchanan
JConnelly
(973) 567-9415
pbuchanan@jconnelly.com
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SOURCE Finitive