ITASCA, Illinois, March 3, 2023 (Newswire.com) –
Fintech Franchise Network (FFN) has successfully closed its initial round of capital, totaling $18 million from two key strategic funding partners, enabling the business to launch. The bulk of these funds will be used as lending capital to finance non-primary consumer loans, while the remainder will be used as working capital.
Founded in 2022 as an expansion channel for Bright Side LoansFFN exploits founder Greg Fasana’s non-prime lending platform that successfully brings together applied data science, custom models, strong analytics and workflow management across the entire application and customer lifecycle. “We look forward to increased opportunities to serve more clients in the alternative financial services (AFS) market,” Fasana said.
‘Bringing the Band Back Together’
“Serving non-prime customers through delivering small loan solutions has always been part of our collective DNA,” says Glenn Hafner, CEO, Fintech Franchise Network. “With our financing and co-launch, in addition to serving existing and future customers, we value the opportunity to deliver for our capital partners and investors.” Hafner added, “As FFN builds out our leadership team with proven consumer finance professionals, these experts and affiliate relationships will ensure our success as we truly bring the consumer finance group back together.”
“We leverage decades of experience from major consumer lending brands, using the latest fintech and proprietary tools while delivering to customers via a unique lending channel – franchises,” outlined Hafner.
Over the next five years, FFN wants to deliver 28 virtual lending branches (franchising) with an expected future valuation of over 300 million dollars. In addition to strategic management and leadership, Hafner is also responsible for capital raising and investor relations.
Strategic Operations:
“Not a week goes by where we are not asked Why do franchising?” states Chris Jerzewski, COO, who brings decades of consumer lending experience to the team. “By franchising, we are able to build better quality customer relationships combined with our team having an ownership versus employee mentality – both of which are significant strategic advantages within this customer lending segment,” outlined Jerzewski.
“As we expand our unique virtual environment, we focus on superior customer and operational execution while having a solid foundation of analytics, data and dashboards to ensure we deliver our expected results.”
Intellectual property:
“In my extensive career, it is rare to find a company with such rich and varied data sources used for modeling and analysis, which, combined with the short outcome cycles needed to inform and continuously improve key models and strategies, allows for continuous and near-real-time improvements to both the effectiveness and efficiency of analytics-driven decision-making and workflow orchestration,” according to Sandeep Devagiri, Chief Data Scientist. “Over the past few years, we have developed and tested a significant amount of intellectual property (IP) that has enabled this expansion. As we expand, we will continue to deliver value to the Fintech Franchise Network via additional intellectual property and process management.”
Market:
With nearly 65% of American workers living “paycheck to paycheck” (CNBC.com Personal Finance, December 15, 2022), expanding Bright Side Loans’ lending capabilities is key to serving these non-primary customers. As the business expands via the Fintech Franchise Network, Bright Side Loans will continue to serve as the customer-facing brand name, identity and as a “testing and learning laboratory” for FFN.
Investment opportunities and investor relations:
The Fintech Franchise Network has several investment opportunities, including direct debt, convertible notes and equity offerings. For details and general business enquiries, please contact Glenn Hafner at (630) 777-4005 or [email protected].
Source: Fintech Franchise Network (FFN)
