PowerPay Secures $60 Million Bond from KeyBank for Growth
Partnership advances a mutual commitment to financing for residential homeowners and elective healthcare nationwide.
PowerPay, a leader in digital point-of-sale home improvement and patient lending, is proud to announce the successful closing of an investment-grade corporate bond issuance with KeyBank as the sole private placement agent. This milestone in financing is a strategic move for PowerPay, providing the essential capital needed to enhance operational capabilities and expand market reach.
The bond issuance represents a crucial aspect of PowerPay's growth strategy, enabling the company to invest in technological advancements, scale service offerings, and innovate customer solutions effectively. KeyBank's role as the private placement agent showcases its confidence in PowerPay's robust business model and optimistic growth trajectory.
"We are thrilled to partner with KeyBank in this significant financing round," stated Mike Petrakis, Founder & CEO at PowerPay. He emphasized, "This financing will allow us to accelerate our growth, enhance our technology, and better execute on the Company's financing initiatives. Our collaboration with KeyBank heralds a new chapter in our journey, enabling us to provide better services to our customers and partners alike."
KeyBank's financial backing and deep understanding of the digital lending landscape put PowerPay in a precarious position to seize emerging market opportunities. The company is dedicated to providing superior lending solutions while upholding a steadfast commitment to compliance and customer satisfaction, ensuring a trustworthy experience for all users.
This successful financing marks a transformational moment for PowerPay as it repositions itself as a pivotal player in both the home improvement and elective healthcare sectors. With these new resources, the company is excited to enhance its service offerings and pursue its strategic objectives with renewed energy.
For those interested in discovering more about PowerPay's home improvement and healthcare loan options, further information is readily available on their website. Customers can now better access the financial solutions that suit their needs.
About PowerPay
Established in 2018, PowerPay stands as a leading provider of digital point-of-sale lending solutions. The company is committed to delivering innovative and efficient services tailored to the home improvement and patient finance sectors. PowerPay's focus on technology and customer experience aims to revolutionize how businesses manage their lending offerings. Since its inception, PowerPay has successfully processed over $8 billion in consumer loans, showcasing its significant impact in the industry.
Media & Investor Relations:
Bennett Andelman
© 2024 PowerPay, Inc. All rights reserved.
Frequently Asked Questions
What was the amount raised by PowerPay in the bond issuance?
PowerPay successfully raised $60 million through the bond issuance.
Who led the bond issuance for PowerPay?
KeyBank acted as the sole private placement agent for the bond issuance.
What will the funds from the bond be used for?
The funds will be directed towards technology advancements, scaling service offerings, and developing innovative solutions.
When was PowerPay established?
PowerPay was established in 2018 and has grown significantly in the lending sector since.
What sectors does PowerPay focus on?
PowerPay focuses on home improvement financing and patient lending solutions.