In the News

2025

  • SAN DIEGO, July 31, 2025 – Applied Data Finance (ADF), a fintech innovator dedicated to expanding fair and responsible credit access for underestimated U.S. consumers through AI-powered underwriting, today announced appointments to its executive and leadership teams, further solidifying its commitment to providing scalable, transparent, and data-driven lending solutions.

    Deena Narayanaswamy Appointed EVP of Credit Risk

    Deena Narayanaswamy has nearly two decades of experience in credit risk management and data science, having held senior roles at top fintech and financial services companies. Most recently, he served as Head of Credit at OnePay (formerly One) and previously held senior credit and data roles at Climb Credit, OppFi, Avant and FICO. Deena has also played critical roles in shaping predictive modeling and fraud prevention strategies in the fintech sector. He holds a Master of Science in Computer Engineering from the University of Minnesota and has completed executive education at the University of Chicago Booth School of Business.

    At ADF, Deena will oversee the company’s enterprise-wide risk strategy, focusing on credit risk, fraud oversight, regulatory compliance, and model risk governance. He joins ADF’s executive leadership team and will play a pivotal role in scaling the company’s AI-driven lending operations.

    Vijay Ravichandran Appointed EVP of Data Science and Analytics

    Vijay Ravichandran brings ADF a wealth of experience from his time at leading fintech and financial services companies. Most recently, he was the Head of Decision Science at OnePay (formerly One), where he was part of the founding team for their India operations. Previously, he worked at Paytm and TransUnion where he led data science initiatives focused on credit risk and fraud prevention. He holds a Master of Science in Machine Learning and Data Science from Northwestern University.

    Vijay’s deep knowledge of fraud mitigation, machine learning models, and data science governance will be instrumental as ADF continues to expand its AI-powered lending platform.

    “Deena and Vijay are successful fintech executives with proven track records and extensive experience in credit risk, data science and AI that will further strengthen our platform offerings and empower ADF to provide fair credit access to underestimated consumers,” said Joseph Toms, CEO of Applied Data Finance.

  • Industry Veterans Join ADF to Drive Expansion in Consumer Finance and B2B Consumer Lending Solutions

    SAN DIEGO, Calif. – March 06, 2025 – Applied Data Finance (“ADF”), a consumer-focused fintech company leveraging the power of people, data analytics, and technology to help consumers achieve financial success and security, today announced the appointment of Todd Rice as Chief Revenue Officer (CRO) and Anthony Nyikos as Vice President of Growth. These strategic hires reinforce ADF’s commitment to expanding its lending and B2B consumer lending solutions, enhancing financial access for underestimated consumers, and strengthening partnerships within the financial services ecosystem focused on consumers.

    Rice joins ADF with extensive expertise in scaling consumer finance businesses and optimizing lending operations, while Nyikos brings deep experience in strategic partnerships and business development. Having previously served as Vice President of Strategic Partnerships at ADF for seven years, Nyikos’ return signals a renewed focus on leveraging ADF’s AI-powered risk assessment and compliance technology to expand industry collaborations.

    "ADF is redefining the way consumer finance companies approach credit risk, compliance, and financial empowerment by having experienced professionals use leading-edge technology and data to produce great outcomes," said Joseph Toms, Chief Executive Officer, Applied Data Finance. "Todd and Anthony bring invaluable experience in scaling financial services and building strategic alliances. Their leadership will accelerate our mission to provide our customers with responsible financial solutions while developing new technologies for consumer-facing companies."

    Todd Rice – Chief Revenue Officer

    With nearly 30 years of leadership in consumer finance, Rice has successfully built and led lending teams at top financial institutions. Most recently, he was the Founder and CEO of New Credit America, a consumer finance company. His prior roles include executive leadership at First USA (Chase) and Citigroup; he also served as Executive Vice President at Providian Financial (WaMu Card Services), responsible for all cardmember acquisition marketing. Rice was also an early-stage executive at Opportun. As CRO, Rice will drive ADF’s revenue strategy, ensuring AI-powered lending solutions and compliance platforms reach the right markets while maintaining ADF’s commitment to responsible financial innovation.

    Rice holds a Bachelor of Business Administration degree from Texas A&M University and an MBA from New York University.

    Anthony Nyikos – Vice President of Growth

    Nyikos brings nearly three decades of experience in financial services, strategic partnerships, and business development. Before rejoining ADF, he served as Partner Executive at Pathward, where he focused on establishing and growing key lending partnerships. Prior to that, he was Vice President of Strategic Partnerships at Monevo, working closely with financial institutions to develop tailored credit solutions. He also spent nearly eight years as Vice President of Strategic Partnerships at ADF, where he played a key role in expanding the company’s industry relationships. In his new role, Nyikos will focus on strengthening ADF’s partnerships with financial institutions and fintech companies, helping expand ADF’s Lending-as-a-Service (LaaS) and AI-driven compliance solutions.

2024

  • SAN DIEGO - July 8, 2024 – Applied Data Finance (ADF), which operates a leading technology-enabled consumer lending services platform, today announced the appointment of Joseph Toms as its new Chief Executive Officer. Toms, who most recently served as the Head of Consumer Lending at Axar Capital and has been a member of ADF’s Board since November 2023, succeeds Co-Founder Krishna Gopinathan, who will transition to a board role and advisory position while pursuing his interests in artificial intelligence.

    Toms is a seasoned executive with over 35 years of experience in consumer finance and asset management. His visionary leadership and strategic acumen have consistently propelled companies to industry-leading positions, setting new benchmarks for performance. At Axar Capital, Toms supported the firm’s consumer finance strategy. Prior to Axar, he launched Freedom Financial’s (later Achieve.com) successful lending division. Under his leadership, the division grew into a highly profitable consumer lending business, with a top-performing $2 billion consumer credit fund and a robust securitization program that received AAA ratings from two separate rating agencies.

    “Krishna has built an incredible foundation, and I am committed to building upon it and leading ADF into its next phase of growth and success,” said Toms. “Over the past several months, I have had the privilege of working closely with the talented team at ADF and have been consistently impressed by their dedication, expertise, and customer-centric approach. ADF’s sophisticated risk pricing abilities, driven by its advanced data-science capabilities and cutting-edge analytical approach, set the company apart in the industry. I look forward to working with the entire ADF team to continue delivering innovative and responsible credit solutions to our customers.”

    Toms’ appointment follows the company’s successful refinancing and growth equity capital infusion in late 2023, which will allow ADF to continue growing while also exploring new opportunities for innovation and expansion.

    “I am delighted to welcome Joe as the new CEO of Applied Data Finance,” said Gopinathan, who co-founded ADF in 2014 and has served as its CEO for the better part of a decade. “His extensive background in consumer finance, combined with his intimate understanding of ADF’s business as a board member, positions him perfectly to lead the company forward. I have full confidence in his ability to drive ADF’s success, and I look forward to working with him in my new capacity as a board member and advisor.”

  • SAN DIEGO - June 18, 2024 – Applied Data Finance, LLC (ADF), which operates a leading technology-enabled consumer lending platform, today announced a five-year $250 million forward flow agreement with Axar Capital Management LP and its funds/affiliates.

    Under the terms of the agreement, installment loans originated by ADF’s bank partner on the ADF platform will be sold to Axar and serviced by ADF. This arrangement will provide ADF with new capital to grow its business and Axar with high-quality assets.

    The agreement diversifies ADF’s liquidity sources, creating more opportunity to grow its business while efficiently managing its balance sheet. This allows further investments in ADF’s state-of-the-art digital technology platform and advanced data-science capabilities.

    “We are thrilled to partner with Axar and its affiliates on ADF’s first forward flow program. This validates the strength of our team and our advanced technology,” said ADF Co-Founder and CEO Krishna Gopinathan.

    “With this five-year, $250 million, forward flow commitment, we are excited to partner with ADF,” said Grant Mitchell, Head of Research of Axar Capital Management. “We believe ADF’s cutting-edge analytical approach will produce excellent risk-adjusted returns, and we look forward to our partnership.”

2026

  • SAN DIEGO, May 12, 2026 -  Applied Data Finance, through its online lending platform that powers Personify Financial, has expanded access to credit by leveraging real-time cash flow insights to strengthen underwriting and risk decisioning. By integrating Plaid directly into its application process, Personify scaled verified bank transaction data collection to more than 90% of applicants without impacting customer conversion rates. The enhanced underwriting strategy improved the company’s ability to assess repayment capacity and identify risk signals beyond traditional credit bureau data, helping Personify expand approvals by up to 8% among underserved borrowers while maintaining strong credit performance. Complete story can be found at https://plaid.com/customer-stories/personify/

  • SAN DIEGO, March 18, 2026 -  Applied Data Finance (ADF). A fintech innovator advancing responsible credit access for underestimated U.S. consumers, today announced the renewal and expansion of its warehousefinancing facility to $300 million. The transaction extends the facility for three years, includes full recommitment from ADF’s existing lender group, and adds a new $100 million commitment from a leading Wall Street institutional investor, positioning the company to further scale its data-driven lending platform.

    Joseph Toms, Chief Executive Officer of Applied Data Finance, commented: “Renewing and expanding this warehouse facility — alongside the participation of a leading institutional investor — reinforces confidence in ADF’s disciplined growth strategy and our focus on delivering high-quality consumer credit. This increased capacity strengthens our funding platform and positions us to further scale our lending programs while expanding access to responsible credit for more consumers.”

    With the expanded facility in place, ADF is well positioned to support continued growth, enhance the stability of its funding platform, and broaden its ability to serve consumers through its data-driven lending solutions.

2021

  • SAN DIEGO – September 1, 2021 Applied Data Finance, LLC (ADF), a leading technology-enabled lender and asset manager, has been recognized as one of America’s fastest growing companies for the second year in a row being named to the Inc. 5000 list of America’s Fastest Growing Private Companies.

    The Inc. 5000 is a showcase of the most noteworthy cases of company growth and development over the last year. This exclusive list gives recognition to the dedicated entrepreneurs who prosper by utilizing innovative ideas and technology combined with industry expertise.

    “We are honored to once again be recognized by Inc. as one of the fastest-growing companies in America,” said Krishna Gopinathan, Co-Founder and Chief Executive Officer of ADF. “This achievement is a reaffirmation of our revolutionary business model that has created a substantial position in today’s fintech marketplace. Moreover, our groundbreaking technology is allowing us to successfully navigate the most challenging business landscape in generations and continue on our rapid growth path.”

    ADF ranked #345 in 2020 and #1064 in 2021 overall. Moreover, ADF finished 14th out of 266 in the Financial Services category in 2020 and 61st out of 297 in 2021. This list is considered the premier recognition for the most successful independent small businesses.

    Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at inc.com/inc5000/2021.

2020

  • SAN DIEGO – November 12, 2020 Applied Data Finance, LLC (ADF), a leading technology-enabled lender and asset manager, announced today that it has closed a $14.2 million capital raise led by existing investors. The capital was raised through the issuance of convertible notes that, at the purchaser’s election, can be converted into preferred stock of the company. The notes mature in July 2023.

    Through its Personify Financial online lending platform, ADF provides* unsecured personal loans to consumers often overlooked by traditional financial institutions. This new capital will drive ADF’s continued growth and allow the company to serve more underbanked individuals in need of straightforward, affordable loans.

    “Finalizing this capital deal in a difficult economic environment demonstrates the strength of the platform and positions ADF to be successful in 2021 and beyond,” said Krishna Gopinathan, Co-Founder and Chief Executive Officer of ADF. “Our ability to select economically resilient consumers has enabled the creation of a solid loan book built to grow profitably in virtually any economy.”

    Founded in 2014, ADF and its partner bank have together lent over $560 million to 160,000 consumers and has grown to almost 300 employees with offices in San Diego and Chennai, India.

    Earlier this year, ADF ranked #8 on The Financial Times’ The Americas’ Fastest Growing Companies 2020 list and second overall in the Fintech category. Inc. Magazine also ranked ADF #345 on its annual Inc. 5000 list. These lists are considered the premier recognition of the most successful independent small businesses.

  • SAN DIEGO – August 18, 2020 Applied Data Finance, LLC (ADF), a leading technology-enabled lender and asset manager, has been recognized as one of America’s fastest growing companies by being named to The Financial Times’ inaugural list of The Americas’ Fastest Growing Companies 2020 and the Inc. 5000 list of America’s Fastest Growing Private Companies.

    ADF ranked #8 on The Financial Times’ The Americas’ Fastest Growing Companies 2020 list, the most prestigious ranking of the fastest-growing private companies across the Americas, and second overall in the Fintech category. Also, Inc. Magazine announced that ADF ranked #345 on its annual Inc. 5000 list. This list is considered the premier recognition of the most successful independent small businesses.

    “We are honored to be recognized by both the Financial Times and Inc. as one of the fastest-growing companies in the Americas,” said Krishna Gopinathan, Co-Founder and Chief Executive Officer of ADF. “This achievement is a testament to our groundbreaking business model that has created a significant foothold in today’s fintech marketplace. Moreover, our innovative technology is allowing us to profitably navigate the challenges of the current environment and positioning us to resume rapid growth in the future.”

    The Americas’ Fastest Growing Companies list comprises of 500 small businesses that heavily contribute to economic growth in North America, Central America, and South America. The companies received this recognition based on their Compound Annual Growth Rate (CAGR), which was calculated using revenue information shared with Statista, globally recognized as the number one business data platform.

    The Financial Times full Special Report featuring case studies and analysis, can be found at https://www.ft.com/americas-fastest-growing-companies-2020.

    Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000.

  • SAN DIEGO – January 06, 2020 Applied Data Finance, LLC (ADF), a leading technology-enabled lender and asset manager, announced that Jimmy Cannon has been named as President. In this newly formed position, Cannon will work in conjunction with Krishna Gopinathan, Co-Founder and Chief Executive Officer at ADF, to further accelerate growth in ADF’s online lending platform, Personify Financial.

    Jimmy Cannon has extensive senior management experience with a focus on leading organizations through transformational change and delivering P&L improvement, most recently as Executive Vice President, Partnerships Credit Card at Capital One. Prior to that, he served as the Auto Partnerships Executive at JP Morgan Chase.

    “Jimmy brings a broad and diverse skill set that ADF will benefit from at this time of accelerated growth,” said Krishna Gopinathan. “Jimmy’s extensive financial services background and business development skills will help ADF develop strategic partnerships, expand our portfolio of product offerings, and further commercialize our technology. Moreover, his proven leadership experience will help guide ADF through a period of rapid expansion, with a focus on long-term profitability.”

    “I am very excited to join the ADF team,” said Jimmy Cannon. “I believe ADF’s innovative business model and exceptional management team has created significant leverage in today’s fintech marketplace. Our goal is to continue to grow by providing best-of-class products for underserved borrowers, combined with outstanding customer experience. I believe ADF is in a position to become a leader in lending for millions of non-prime consumers.”

    As Executive Vice President of Capital One, Cannon successfully led the Partnerships Credit Card business to achieve substantial growth and increased industry recognition. Before joining Capital One in 2014, he held various executive positions within JP Morgan Chase’s auto finance business. He led three separate business units as well as the business development and pricing functions. Prior to joining JP Morgan Chase, Cannon held positions at Bank of Scotland North America and The Boston Consulting Group.

    Jimmy Cannon received a BA Degree in Mathematics from Dartmouth College and an MBA from Northwestern University’s Kellogg School of Management.

2019

  • SAN DIEGO and NEW YORK – September 27, 2019 Applied Data Finance, LLC (ADF), a leading technology-enabled lender and asset manager, announced today that it has upsized its current senior credit facility with Victory Park Capital Advisors, LLC (VPC) from $200 million to $350 million. Additionally, the term was extended to 2023, establishing a stable source of funding for future growth.

    Through its Personify Financial online lending platform, ADF provides* unsecured, personal loans to consumers often overlooked by traditional financial institutions. This new capital will enable ADF to serve even more consumers needing straightforward, transparent loan options.

    “VPC continues to be a great strategic partner for ADF, and we look forward to leveraging this newly available capital to continue our growth,” said Krishna Gopinathan, Co-Founder and Chief Executive Officer at ADF. “Partnerships like this give us the ability to provide the loan options our customers need and at the same time, empower them to move up the credit spectrum by taking advantage of our financial education resources.”

    Glen Freter, Chief Financial Officer of ADF, commented, “We are delighted by the support VPC continues to provide ADF. Our relationship has helped us execute our vision and with this new agreement, Personify’s position in the industry is stronger than ever.”

    Founded in 2014, ADF has originated* over $300 million in loans using its industry-leading AI-driven non-prime analytics platform. Since its inception, ADF has raised total capital of over $450 million and has grown to 250 employees with offices in San Diego and Chennai, India.

    “ADF continues to demonstrate its ability to responsibly offer bespoke credit products to consumers in need while effectively controlling credit risk. We have had a great partnership with the company since inception and are pleased to continue to support its impressive growth,” said Tom Welch, Partner at VPC.

    About Victory Park Capital Advisors

    VPC is a privately held, SEC-registered, global alternative investment firm. VPC invests in emerging and established businesses across various industries in the U.S. and abroad, who are often unable to access traditional sources of capital. The firm’s differentiated offerings leverage an extensive network of industry relationships, disciplined deal origination, creative financing capabilities, broad credit structuring and special situations expertise. The firm was founded in 2007 and is headquartered in Chicago with additional offices in New York, Los Angeles and San Francisco. For more information visit: www.victoryparkcapital.com.

    *References to originating, providing, or extending loans or credit describe loans facilitated by the Personify online platform. The actual lender may be Personify, an affiliate, or a partner. (updated 05/2021).

  • SAN DIEGO and NEW YORK – January 15, 2019 Applied Data Finance, LLC (ADF), a leading technology-enabled lender and asset manager, announced today that it closed an additional $17.8 million of equity financing as a follow-on to its July 2018 raise of $140 million of debt and equity capital.

    Through its Personify Financial online lending platform, ADF provides* unsecured, personal loans to consumers often overlooked by traditional financial institutions. This new capital will fuel ADF’s continued growth and allow the company to reach even more individuals in need of straightforward, affordable loans.

    Founded in 2014, ADF has grown to 180 employees with offices in New York, San Diego and Chennai, India, and has originated* over $150 million in loans, including over $40 million in Q4 of 2018.

    “The capital raised in mid-2018 enabled us to rapidly scale our business while continuing to deliver industry leading performance. As a result, we are seeing additional interest in providing capital to continue expanding the business, and this is a great example of investor confidence in ADF,” said Krishna Gopinathan, Co-Founder and Chief Executive Officer at ADF.

2018

  • SAN DIEGO and NEW YORK – July 24, 2018- Applied Data Finance, LLC (ADF), a leading technology-enabled lender and asset manager, announced today that it has closed $145 million of equity and debt financing.

    MAI Capital Management, LLC (MAI), Victory Park Capital Advisors, LLC (VPC) and Park Cities Asset Management, LLC (PCAM) were the primary participants in the transactions, along with several new and current family office investors.

    Through its Personify Financial online lending platform, ADF provides* unsecured, personal loans to consumers often overlooked by traditional financial institutions. This new capital will fuel ADF’s continued growth and allow the company to reach even more individuals in need of straightforward, affordable loans.

    “Since we founded ADF, we’ve employed an unrelenting focus on careful testing and risk management. We view this successful fundraising as a validation of that approach, and we are now poised to accelerate the growth of our business,” said Krishna Gopinathan, Co-Founder and Chief Executive Officer at ADF.

    Founded in 2014, ADF has originated* over $100 million in loans and has grown to 180 employees with offices in New York, San Diego and Chennai, India. Since its inception, ADF has raised total financing of $275 million.

    “ADF combined talent with a history of innovation in the industry with financial, technological and capital markets acumen to bring a new lending model to the market. We believe ADF has great opportunities for growth,” said Rick Buoncore, Managing Partner of MAI. “The number of Americans without a financial cushion is stunning. With no access to the traditional banking and credit system, ADF’s innovative and responsible approach to lending is a welcome relief to these individuals.”

    “Our team has worked with consumer lenders for over a decade. Looking back, the product ADF has already developed is exceptional. Looking forward, we see enormous growth potential as ADF expands on its current markets and product offerings,” said Alex Dunev, Managing Partner of PCAM.

    About MAI Capital Management

    MAI is a registered investment advisor based in Cleveland, Ohio, with offices in Ponte Vedra Beach, FL; Nashua, NH; Columbus, OH; and Irvine, CA. The firm manages and advises approximately $5 billion in assets as of June 30, 2018, and provides comprehensive investment management and planning services to high net worth individuals, families and athletes. MAI is led by Managing Partner Rick Buoncore who oversees a team of more than 95.

    About Victory Park Capital Advisors, LLC

    VPC is a privately-held, SEC-registered, alternative investment firm. As an internationally recognized financial services investor, VPC finances both emerging and established businesses seeking liquidity and/or capital structure reforms with the goal of accelerating value creation. The firm’s offerings leverage broad special situations and credit structuring expertise, differentiated deal origination, creative financing capabilities and a deep network of industry relationships. VPC was founded in 2007 and is headquartered in Chicago with additional offices in New York and Los Angeles. For more information, please visit www.victoryparkcapital.com.

    About Park Cities Asset Management

    PCAM is an alternative credit manager focused on deploying capital across asset classes in the Specialty Finance and FinTech sectors. PCAM and its predecessor firm has been investing for over a decade and is led by J. Andrew Thomas, Alex Dunev and Tom Dundon. PCAM provides investment advice and offerings managed by its SEC Registered Investment Advisor, Park Cities Advisors, LLC.

    *References to originating, providing, or extending loans or credit describe loans facilitated by the Personify online platform. The actual lender may be Personify, an affiliate, or a partner. (updated 05/2021).

2017

  • DALLAS – December 04, 2017 – Redpoint Capital Group, LLC (“Redpoint”), an alternative credit manager focused on providing financing solutions to companies across an array of industries, announced today it has provided over $20 million of incremental financing to Applied Data Finance (“ADF”). Through its Personify Financial platform, ADF provides underestimated and under-banked consumers with an affordable alternative for unsecured personal installment loans.

    “We are pleased to work in conjunction with Victory Park Capital to support the growth of ADF’s consumer loan portfolio,” said Alex Dunev, Managing Partner at Redpoint. “This investment reflects Redpoint’s confidence in ADF’s ability to serve the under-banked while providing an opportunity to work with a pioneer in the specialty finance lending industry.”

    The financing was in addition to the company’s existing facility as ADF continues to provide consumers with credit using its own balance sheet. ADF will use the added debt to continue to scale its successful Personify Financial online lending platform.

    “ADF continues to serve more and more underestimated consumers with responsible products,” said Krishna Gopinathan, Founder, Chief Executive Officer at ADF. “With the flexible financing provided by Redpoint, we are looking forward to strong 2018 performance and further fulfilling our mission to be the optimal link between capital and consumers.”

    About Redpoint Capital

    Redpoint Capital Group, LLC is an alternative credit manager focused on managing and deploying capital into Specialty Finance and FinTech markets through asset-based financings. Redpoint delivers attractive risk-adjusted returns to its clients through privately negotiated debt transactions with companies across a wide array of industries. Our firm is managed by senior executives with decades of experience operating finance companies, investing capital as lenders and investors, and advising companies across capital markets activities.

  • SAN DIEGO and NEW YORK – July 17, 2017 – Applied Data Finance, LLC (ADF), a leading technology-enabled lender and asset manager, announced today a marketing agreement with iHeartMedia, the leading media company in America with a greater reach in the U.S. than any other radio or television outlet.

    The agreement allows ADF to promote Personify Financial, its successful online lending brand that provides underestimated and under-banked consumers with an affordable alternative for unsecured personal loans, across iHeartMedia’s vast multiplatform network including radio, digital and social channels.

    “We are excited about our new relationship with iHeartMedia and its investment in and support of ADF,” says Krishna Gopinathan, Chief Executive Officer of ADF. “The new audiences we will reach through iHeartMedia will allow us to introduce ADF’s Personify Financial brand to millions of new consumers and dramatically grow the business.”

    About iHeartMedia

    With over a quarter of a billion monthly listeners in the U.S. and over 85 million social followers, iHeartMedia has the largest national reach of any radio or television outlet in America. As the leader in multiplatform connections, it also serves over 150 local markets through 858 owned radio stations, and the company’s radio stations and content can be heard on AM/FM, HD digital radio, satellite radio, on the Internet at iHeartRadio.com and on the company’s radio station websites, on the iHeartRadio mobile app, in enhanced auto dashes, on tablets, wearables and smartphones, and on gaming consoles.

    iHeartRadio, iHeartMedia’s digital radio platform, is the fastest growing digital audio service in the U.S. and offers users thousands of live radio stations, personalized custom artist stations created by just one song or seed artist and the top podcasts and personalities. With over a billion downloads, iHeartRadio reached 100 million registered users faster than any other radio or digital music service.

    iHeartMedia’s platforms include radio broadcasting, online, mobile, digital and social media, podcasts, personalities and influencers, live concerts and events, syndication, music research services and independent media representation. iHeartMedia is a division of iHeartMedia, Inc. (PINK: IHRT). Visit iHeartMedia.com for more company information.

  • SAN DIEGO and NEW YORK – May 31, 2017 – Applied Data Finance, LLC (ADF), a leading technology-enabled lender and asset manager, announced today that investment firm Victory Park Capital (VPC) has increased its existing credit facility with ADF from $50 million to $75 million and extended it through 2021.

    Additionally, ADF raised $6.5 million in a convertible note round from a combination of existing and new equity investors, increasing the total equity raised to $32.3 million.

    “Victory Park has been a great partner for us, and we are pleased to renew and extend our relationship. This news, combined with the additional capital raised through the convertible note round will further strengthen our ability to serve the under-banked,” said Krishna Gopinathan, Founder, Co-Chief Executive Officer at ADF.

    ADF will use the added debt and equity funding to continue to scale its successful Personify Financial online lending platform. Personify provides* unsecured personal loans for underestimated underbanked consumers.

    About Victory Park Capital Advisors

    VPC is an alternative investment firm with a focus on providing privately negotiated debt and equity capital solutions to small and middle market companies across a wide range of industries. We target fundamentally sound businesses in need of liquidity and/or capital structure transformation and often take a leadership role in the financial restructuring process. VPC’s offerings leverage the firm’s special situations and credit structuring expertise and differentiated deal origination capabilities. The firm was founded in 2007 and is headquartered in Chicago, with resources in New York, Los Angeles and London. VPC is privately held and a Registered Investment Advisor with the SEC. For more information visit: www.victoryparkcapital.com.

    *References to originating, providing, or extending loans or credit describe loans facilitated by the Personify online platform. The actual lender may be Personify, an affiliate, or a partner. (updated 05/2021).

2015

  • SAN DIEGO – September 14, 2015 – Applied Data Finance (“ADF”), a leading financial technology and consumer credit company, today announced the launch of its Institutional Whole Loan Platform, with support from investor Colchis Capital Management (“Colchis”), to provide institutional investors with the opportunity to purchase loans originated using Applied Data Finance’s proprietary predictive analytics. The launch of this platform bolsters the company’s ability to provide* unsecured consumer installment loans to the underestimated under-banked by adding aligned institutional capital to its own significant balance sheet lending resources.

    ADF and Colchis, a leading investment management firm in the emerging field of non-bank lending, have established a partnership that makes Colchis the first institutional investor with the ability to purchase loans originated on the ADF platform. The agreement is the first of several in-process agreements whereby ADF will partner with additional institutional investors that are avidly exploring opportunities in the burgeoning field of consumer credit. In conjunction with that agreement, Colchis has also made an equity investment in ADF.

    Through its inaugural consumer brand, Personify Financial, ADF extend* credit at responsible, risk-appropriate rates to near-prime and sub-prime consumers using proprietary analytics that take a more expansive view of consumer credit risk and repayment prospects than traditional models. It incorporates knowledge of consumer behavior across the full credit spectrum allowing ADF to effectively price, manage and monitor risk while offering consumers credit that they can afford.

    “We welcome the agreement with Colchis Capital Management as an endorsement from a pioneer in the marketplace lending industry,” said Krishna Gopinathan, Co-Chief Executive Officer of ADF. “Colchis is an ideal partner for ADF as we launch a critical part of our business model, the Institutional Whole Loan Platform, which will help us expand access to credit for a key part of the population that is underserved by the banking community and misunderstood by providers of conventional measures of credit risk.”

    ADF has structured the Institutional Whole Loan Platform to align its interests with those of participating institutional investors. It continues to provide credit using its own balance sheet alongside its Institutional Whole Loan partners. In addition, it offers both levered and unlevered options to meet investors’ individual risk tolerance and reward expectations.

    “Given Colchis’ position of having identified and worked with several now well-established leaders at an early stage, we are naturally excited about what the future holds for ADF and the broader marketplace lending sector. We look forward to being a substantial loan purchaser and financing partner as ADF executes on its vision to support consumers abandoned by traditional banks,” said Bob Conrads, Co-Founder and Chief Executive Officer. “There is a clear market need for unsecured finance that few players in the industry are structured to provide. We believe that Krishna and the management team at ADF, with over 20 years of experience in predictive analytics and data science, have a formula that will allow the company to become a leader in this field.”

    This financial partnership follows an equity investment and credit facility from Victory Park Capital, an asset management firm focused on middle market debt and equity investments and a leading financier to the emerging financial technology industry.

    About Colchis Capital Management

    Colchis Capital Management, L.P. is a boutique alternative investment management firm headquartered in San Francisco. The firm was founded by Robert and Edward Conrads in 2005 and is currently dedicated to the emerging direct lending sector on a global basis. Colchis leverages a deep credit expertise, proprietary technology and financial structuring experience to invest in various credit products originated by direct lending platforms. Find out more at https://www.colchiscapital.com/.

    *References to originating, providing, or extending loans or credit describe loans facilitated by the Personify online platform. The actual lender may be Personify, an affiliate, or a partner. (updated 05/2021).

  • SAN DIEGO – September. 10, 2015 – Once again, data scientist and entrepreneur Krishna Gopinathan is combining advanced analytics with innovative thinking to improve the credit market.

    Gopinathan helped create the fraud detection that protects billions of credit cards today. He also founded San Diego based Global Analytics, the UK's second-largest online installment lender.

    Now Gopinathan has joined hedge fund manager Dan Zwirn and investment banker Eric Schwartz to found Applied Data Finance. ADF plans to offer credit to millions of US customers who aren't well served by banks today. Read the San Diego Business Journal article >

  • CHICAGO – Apr. 13, 2015 – Victory Park Capital (VPC), an asset management firm focused on middle market debt and equity investments, announced today that it has invested in Applied Data Finance (ADF or the Company), an early-stage provider of online consumer credit. This facility will provide the growth capital necessary as the Company looks to launch its suite of lending products in the second quarter.

    In addition to providing ADF's first institutional credit facility, VPC will also provide an equity investment to fund working capital in advance of the Company's Series A round expected later this year.

    "We are very excited to partner with Krishna [Gopinathan] who is truly a pioneer within the financial services industry in fraud prevention and evaluating consumer credit risk. With our facility in place, ADF is well capitalized for growth out of the gate and will be well positioned to gain market share throughout 2016," said Tom Welch, principal at Victory Park Capital. "Krishna has surrounded himself with a highly-experienced executive team and we are excited to see how the platform scales over time while the overall lending ecosystem continues to evolve."

    "Victory Park is a clear leader in the structured finance lending market and this credit facility represents an important milestone for our Company," said Krishna Gopinathan, president of ADF. "We appreciate their confidence in ADF and look forward to working together."

    About Victory Park Capital

    Victory Park Capital (VPC) is a privately held registered investment advisor dedicated to alternative investing through the management of its investment funds. As specialists in credit and private equity investments, VPC focuses on middle market companies across a diversified range of industries. Whether as a lender or a control investor, VPC seeks to identify opportunities where it believes the potential for reward outweighs the risks entailed. Founded in 2007, VPC is headquartered in Chicago with additional resources in Los Angeles, New York and San Francisco. For more information visit: www.victoryparkcapital.com.

2022

  • DALLAS – October 11, 2022 – Park Cities Asset Management, LLC (“Park Cities”), an alternative investment firm focused on providing flexible debt solutions, announced today that it has provided $30 million of debt capital commitments to Applied Data Finance (“ADF”). Through its Personify Financial platform, ADF offers underestimated Americans an affordable, responsible alternative for unsecured personal installment loans.

    “We are pleased to provide this capital commitment to ADF and support the growth of ADF’s consumer loan portfolio,” said Alex Dunev, Managing Partner at Park Cities. “This investment reflects Park Cities’ confidence in ADF’s ability to serve the underestimated while providing an opportunity to work with a pioneer in the specialty finance lending industry.”

    The financing was in addition to the company’s existing facility as ADF continues to provide consumers with credit using its own balance sheet. ADF will use the Park Cities capital commitment to continue to scale its successful Personify Financial online lending platform.

    “At ADF, we aim to better meet the financial needs of underestimated Americans across the credit spectrum through our mastery of cutting-edge data science and technology and our commitment to mutual success,” said Krishna Gopinathan, Founder, Chief Executive Officer at ADF. “With the flexible financing provided by Park Cities, we look forward to continuing to grow by responsibly connecting consumers with capital.”

    About Park Cities Asset Management

    Park Cities Asset Management, LLC is an alternative credit manager focused on deploying capital across asset classes in the Specialty Finance and FinTech sectors. Park Cities and its predecessor firm have been investing for over a decade and is led by Alex Dunev and Andy Thomas. Park Cities provides investment advice through its SEC Registered Investment Advisor, Park Cities Advisors, LLC. For more information about Park Cities, please visit www.parkcitiesmgmt.com.

  • SAN DIEGO, Aug. 16, 2022 - Applied Data Finance, LLC (ADF), which has built a disruptive, AI-powered platform that allows underestimated consumers to obtain responsible financing at rates they can afford, today announced that it has been named to the Inc. 5000® list of the fastest-growing, privately owned companies in America for the third consecutive year.

    The list represents a one-of-a-kind look at the most successful companies within the U.S. economy’s most dynamic segment – its independent businesses. Facebook®, Microsoft®, Patagonia®, and many other well-known names in a variety of industries gained their first national exposure as honorees on the Inc. 5000.

    “To be included on the prestigious Inc. 5000 list for the third year in a row is both a great honor and a powerful validation of our business model,” said ADF Co-Founder and CEO Krishna Gopinathan. “But it is also a testament to the strength of our people-first culture, the raw talent of our teams, and the enduring importance of our mission: to better meet the financial needs of underestimated consumers across the credit spectrum through our mastery of cutting-edge data science and technology and our commitment to mutual success.”

    Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000.

  • SAN DIEGO - July 25, 2022 Applied Data Finance, LLC (ADF), a leading technology-enabled lender and asset manager, today announced that financial services executives Sumeet Wadhera and Jeff Andrews have joined the company's management team as Chief Capital Officer and Chief Growth Officer, respectively.

    "At ADF, we have built a disruptive, vertically integrated and profitable AI-powered lending platform - one that has been engineered for deployment into new applications and asset classes," said ADF Co-Founder and CEO Krishna Gopinathan. "With their deep expertise in capital markets and building new revenue streams, Sumeet and Jeff will play integral roles in positioning us for the next phase of our growth."

    Wadhera and Andrews report to ADF President Jimmy Cannon, who previously held executive roles at Capital One and JP Morgan Chase. "ADF's cutting-edge platform is positioned to meet the borrowing needs of millions of consumers across the credit spectrum," Cannon said. “Sumeet and Jeff bring a wealth of industry knowledge and extensive relationships that will allow us to deliver on our incredible potential."

    With financial services experience in the United States and Asia, Wadhera brings to ADF a record of proven success in building new revenue streams and teams, developing capital management strategies and funding solutions, and expanding investor and partner relationships. Prior to ADF, Wadhera was a member of Australia and New Zealand Banking Group's (ANZ) institutional leadership team for the United States, Europe and Asia. Previously, at Deutsche Bank and Citi, Wadhera structured and executed over $25 billion in structured credit and securitization transactions.

    Andrews brings to ADF proven experience at instigating growth through creative strategic partnerships and team building, driving new revenue initiatives, and cooperating with the capital markets and capital raising teams to constantly lower the cost of capital. He previously oversaw strategic partnerships for the Investor Group at Lending Club and ran the Partnerships Teams at Pagaya.

  • SAN DIEGO - May 4, 2022 Applied Data Finance, LLC (ADF), a leading technology-enabled lender and asset manager, today announced it has originated* more than $1 billion in loans, including nearly $280 million in 2021 alone. Since inception, ADF's footprint has grown substantially with over 200,000 customers served.

    Founded in 2014, ADF has built an industry-leading AI-powered analytics platform to open up access to credit for America's underestimated consumers - the tens of millions of Americans who traditionally have been frozen out of borrowing altogether, or unable to borrow at rates they could afford. ADF's next-generation lending platform analyzes data from over 30,000 predictive variables to match customers with loans they can afford to repay at risk-appropriate rates.

    "We've been able to disrupt traditional lending thanks to our ability to generate crystal-clear snapshots of customers' true credit situation, our incredible team, and a business model built on the simple idea that we only succeed when our customers do,” said ADF Co-Founder and CEO Krishna Gopinathan. “We're proud to serve underestimated Americans with responsible financial products and we look forward to leveraging our strengths to grow our market share across the credit spectrum."

    Through its consumer-facing Personify Financial brand, ADF has created a streamlined lending process backed by industry-leading customer service and a steadfast commitment to compliance and continuous improvement. ADF's credit models have been refined to the point where they now have 2.5 times the predictive power of the standard FICO score.

    “Unlike traditional lenders, ADF offers a unique approach to analyzing credit data using next-generation underwriting,” Gopinathan said. “Our innovative platform offers a superior alternative to many of the other types of non-prime loans available to underestimated consumers.”

    ADF was named to the Inc. 5000 list of America's Fastest Growing Private Companies in 2020 and 2021, and ranked eighth on the Financial Times 2020 list of the Americas' Fastest Growing Companies.

    *References to originating, providing, or extending loans or credit describe loans facilitated by the Personify online platform. The actual lender may be Personify, an affiliate, or a partner.

    Read coverage of this announcement in the San Diego Business Journal.

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