Brigit is a US fintech offering financial planning and consumer credit to customers in the US with the goal of helping avoid overdraft and late payment fees – a business fully aligned with DN’s investment thesis of backing companies advancing financial inclusion.
DN was so taken with the founding team and business model of Brigit in its earliest form that back in 2020, prior to Brigit’s Series A, DN structured and anchored a unique debt facility for Brigit, that enabled it to greatly expand its loan book and support more customers – therefore enabling its successful and oversubscribed Series A, which DN then participated in.
It’s almost unheard of for a non-equity investor to participate in a facility like this, but the DN team, led by Steven Schlenker, was so convinced by the Brigit team and model we knew we had to help the company succeed.
Brigit has since helped customers avoid more than $1bn in predatory bank fees, and become one of the fastest fintechs to reach $100 million in revenue, while doing so profitably.
Zuben Mathews, Hamel Kothari and the entire Brigit team – congratulations on what you’ve achieved. We’re immensely proud to have supported Brigit on its journey so far.
To read more, please click here: https://www.businesswire.com/news/home/20241212082702/en/Upbound-Group-Enters-Definitive-Agreement-to-Acquire-Brigit-a-Leading-Financial-Health-Technology-Firm-for-up-to-460-Million