You know your year is off to a fantastic start when Bain Capital Ventures invests in your product and vision!
According to Brian Goldsmith, senior principal at Bain Capital Ventures, “aside from a great product and strong team,” several external factors led to his company’s desire to invest $55 million and partner with defi. Among these is the freedom defi gives lenders to remain competitive by “being nimble, data-driven, and more responsive to the shifting consumer and industry landscapes.”
We at defi are obviously excited about this opportunity to utilize Bain Capital Venture’s expertise and to create even greater value for our clients, investors, and partners.
This past year we have expanded the capabilities of our Loan Origination Software (LOS) and created a robust platform of services that include a loan management and servicing system (LMS), analytics and reporting interface with configurable dashboards for varying user types, a direct lending interface, a digital loan document service with e-signature, and an online auto loan portfolio marketplace.
We will be continuing our development of existing and emerging products for our current and prospective clients – FinCos, banks, credit unions, the solar market, Buy Here Pay Here dealers, and personal and business lending – and expanding our facilities to accommodate additional team members. We plan to grow our team – including client services, technical services, and sales and marketing – by nearly 50% this year alone.
As Brian points out in his blog “Fast & Furious: Why we’re leading defi SOLUTIONS’ $55M Series C Investment,” while auto financing is a huge industry, the technology inside of cars has vastly exceeded the technology that surrounds the purchase and financing of them. And aided by this partnership with Bain Capital Ventures, defi SOLUTIONS will continue to pursue its vision of empowering lenders by building the much needed next generation of lending software.
Reach out and let us know how we can help you drive your success.