Highline is experiencing rapid growth for 2022
Doubling headcount, expanding scale and strategic partnerships, rising star fintech ends 2022 with impressive momentum, poised for continued success in the year ahead
DALLAS, January 4, 2023–(BUSINESS WIRE)–Highline Technologies, payments fintech that unlocks payroll-related lending and billing, experienced tremendous growth in 2022, ended a successful year driven by over $17 million in new funding, continued company expansion as well as strategic partnerships that are critical to the company’s goal of expanding credit and billing access for consumers, reducing risk for lenders and billers.
Highline kicked off 2022 by announcing a $4.5 million funding round led by Foundation Capital and Costanoa Ventures, as the company began building a new loan decision and payment method based on income, not traditional credit scores. This funding fueled the development of Highline’s API and website, including a complete rebrand, with the first customer going live on the platform in June.
To help meet increased market demand, Highline expanded rapidly over the summer, with significant growth doubling its headcount, including strategic operations and management hires. This expansion also saw Highline move to a larger new headquarters in Plano, TX, to celebrate its new home with employees from over four continents and nine countries.
In August, Highline continued its momentum with the announcement of its Series A funding, raising $13.5 million from investors Jump Capital, Costanoa Ventures and Foundation Capital. This funding supported Highline’s continued growth, including staff additions, and expanded market adoption of its products and services. It also helped expand strategic alliance opportunities, with Highline announcing its partnership with employment data platform Argyle, to address the needs of US consumers who are typically shut out of affordable credit products. By using Highline, lenders reduced their missed payments by up to 2/3 and reduced default rates by more than half. This effort and success led to Highline being recognized as a fintech investor to watch Business Insider.
Understanding the importance of supporting the fintech and payments ecosystems at both the local and national levels, Highline was pleased to join the American Transaction Processors Coalition (ATPC) to raise the profile of the payment processing space, fostering innovation and spurring growth; Highline CEO Geoff Brown met with members of Congress as part of ATPC’s annual Capitol Hill fly-in. In addition, the company also began working closely with FinTech Atlanta, an organization that helps fund and drive efforts to recruit, retain and grow fintech businesses and jobs in metro Atlanta and throughout the state of Georgia.
With a year of impressive growth and expansion, Highline’s customer base expanded to include personal loans, early payday access, rent-to-own, retail, credit card and car loans. Furthermore, this success has enabled the company to secure key relationships that will produce the next iteration of the platform: a flagship release that will significantly improve the consumer experience and provide new origination channels for lenders.
“It’s been an amazing year of growth for Highline as we continue to build a world-class team, connected with a growing number of strategic partners across the industry who share our mission to provide both consumers and lenders with better ways to access and extend credit ,” said Geoff Brown, CEO of Highline. “We’re grateful to everyone who helped make 2022 such a success, and we’re committed to improving our product, bringing many more lenders into the market, and continuing our strong, steady growth. Stay tuned for big news in 2023! “
About Highline
Highline is a new payment platform that automates bill payments directly from payroll. It provides lenders with a simple, straightforward approach to credit decisioning and payment automation that can be supported at scale. Lenders can reduce missed payments by up to 2/3, reduce default rates by more than half, expand customers’ credit options and better support financial well-being. Built by subject matter experts, data scientists and technologists, Highline’s solution unleashes the power of payment automation to help lenders and financial institutions expand their pool of potential borrowers. For more information, please visit https://highline.co/.
See the source version at businesswire.com: https://www.businesswire.com/news/home/20230104005121/en/
Contacts
Derek Howard
For Highline
[email protected]
678-781-7215
Heather McDaniel
For Highline
[email protected]
678-781-7204
