The digital lending platform was purchased by JG Wentworth from San Francisco-based fintech and personal loan lender Stilt Inc. Leading venture capital firms supported Stilt as it raised $322 Million in debt and equity to create an effective end-to-end platform for digital lending and servicing. The acquisition accelerates its entry into the consumer lending market and supports its mission to provide financial solutions for millions of average Americans looking to improve their situation. It brings together JG Wentworth’s nationally recognised brand with a cutting-edge fintech platform.
In addition to JG Wentworth’s existing database of over 25 years of customer engagements, the acquisition adds Stilt’s robust and proprietary data sets with over $5 billion in loan applications and more than 2.5 million bank transactions. All of these will power deep data analytics providing the best risk insights into consumer behavior. Through the acquisition, JG Wentworth is also able to provide customers with a hybrid loan origination model that ranges from an entirely digital, fully automated experience to the more individualised customer service capabilities of JG Wentworth’s national call center, allowing customers to select the user experience that best suits them. According to JG Wentworth, loan origination will start in the first half of 2023.

Source: Prnewswire