Burnside: LendingPoint raised an unprecedented $220M in friends and family rounds
Tom Burnside · LendingPoint Hits $600m ARR, Will Profit $120m on AI platform for consumer loans · Apr 7, 2022 · at 9:11
LendingPoint CEO Tom Burnside outlines the company's early non-institutional equity financing strategy before taking institutional capital.
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“The team we have here raised about two hundred and twenty million dollars of friends and family just really no outside rounds, but friends and family, we raised that over, Yeah. Over about probably four or five different tranches that we re-raced it, but we didn't really consider them A rounds, B rounds.”
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“Here in 2021, we were at about three hundred and thirty million. ... This is basically, this is our net revenue, right?”
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“We can easily get to a billion to 1,000,000,005 with what we have right now. It's a combination of warehouses, ABSs, forward flows, you know, bank commitments, things of that sort that make that happen. But you know, we know we can get to at least a 1,000,000,…”