PowerPay, a leader in digital POS financing for home improvement and patient financing, has successfully secured $60 million in investment through a bond offering.
KeyBank played a key role as the sole private placement agent for this transaction. This strategic financial strategy will significantly strengthen PowerPay’s operational capabilities and expand its market reach.
The $60 million raised will be strategically reinvested into the business, with plans to upgrade technology, expand service offerings and develop innovative financing solutions.
At the core of our business, PowerPay is committed to transforming the digital lending landscape. The company is focused on providing accessible financing solutions for home improvement projects and medical needs, and strives to improve the overall customer experience through technological innovation.
The proceeds from this bond will primarily be used to accelerate PowerPay’s growth, strengthen its technical framework, and advance its financing efforts.
Mike Petrakis, Founder and CEO of PowerPay, said: “We are excited to partner with KeyBank on this important funding round, which will allow us to accelerate our growth, strengthen our technology, and better execute our funding initiatives. .”
This funding marks a significant milestone for PowerPay as it continues to strengthen its position within the home improvement and elective care industries. With KeyBank’s support, PowerPay is well-positioned to capitalize on the growing demand for flexible and innovative lending solutions.
Previously, PowerPay has been influential in the FinTech space since its founding in 2018, processing over $8 billion in consumer loans and demonstrating its ability and commitment to meet the financial needs of its customers.
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