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The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
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The Importance of Stretching
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SFNet's 40 Under 40 Award Winners Panel Recap
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SFNet's Inaugural YoPro Leadership Summit
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It’s a Marathon, Not a Sprint
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It’s Not Too Late – Five Member Benefits to Cash In On Now
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It’s Time To Break Up With Your Phone
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Lien Management – What You Need to Know
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Potential Impacts of Blockchain on Commercial Lending
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How to be a Good Leader
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
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A Commercial Banker’s Tickler Transition Plan
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
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The Lost Art of the Loan Purchase
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Audit Prep: Why a Paperless Approach Makes Sense
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Back Office Support Services: Helping you approve more clients
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
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Paper Loan Files: Does Your Bank Know the True Cost?
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October 23, 2023
Source: InsideARM
CHESAPEAKE, VA. -- Spring Oaks Capital, LLC is pleased to announce the closing of a new credit facility, as well as a large capital raise to support the growth of its technology-focused consumer debt investing and collections platform. The $150 million senior secured revolving credit facility provided by funds managed by Värde Partners and UBS O’Connor, coupled with a fourth-round capital raise will support the Company’s portfolio acquisition strategy along with the continued development of industry leading consumer engagement and analytical tools. The new credit facility reduces borrowing costs while increasing flexibility, positioning Spring Oaks to execute upon a robust pipeline of investment opportunities while building a platform with an unmatched compliance focus that empowers consumers on their journey to resolve the burden of financial debt through machine learning, data science, and deep industry expertise.
Tim Stapleford, President & CEO commented, “This is a significant milestone for Spring Oaks as we continue to build our leading portfolio acquisition platform, and we are thrilled to partner with Värde Partners and UBS O’Connor as we embark on the next chapter for our Company. We worked with the team at KBW and achieved this outcome in challenging market conditions, a testament to the company’s success. The new credit facility and capital raise further positions us to be the buyer of choice for sellers, from leading-edge financial technology lenders to global banking institutions seeking a well- capitalized, technology-enabled partner to transition customer relationships."
About Spring Oaks Capital
Spring Oaks Capital is a national financial technology company, focused on the acquisition of non-performing credit portfolios. The Company subscribes to an employee and consumer-centric operating philosophy that creates high-value jobs, a significant performance lift and highest standards of compliance. Spring Oaks’ business strategy is rooted in innovative data-driven technology to maximize collection results and a contact platform that offers multi-channel options to meet each consumer’s communication preference. Spring Oaks has the management vision and experience to nurture a culture and DNA that is unique in the industry. To learn more about Spring Oaks, please visit www.springoakscapital.com.
Tim Stapleford, President & CEO commented, “This is a significant milestone for Spring Oaks as we continue to build our leading portfolio acquisition platform, and we are thrilled to partner with Värde Partners and UBS O’Connor as we embark on the next chapter for our Company. We worked with the team at KBW and achieved this outcome in challenging market conditions, a testament to the company’s success. The new credit facility and capital raise further positions us to be the buyer of choice for sellers, from leading-edge financial technology lenders to global banking institutions seeking a well- capitalized, technology-enabled partner to transition customer relationships."
About Spring Oaks Capital
Spring Oaks Capital is a national financial technology company, focused on the acquisition of non-performing credit portfolios. The Company subscribes to an employee and consumer-centric operating philosophy that creates high-value jobs, a significant performance lift and highest standards of compliance. Spring Oaks’ business strategy is rooted in innovative data-driven technology to maximize collection results and a contact platform that offers multi-channel options to meet each consumer’s communication preference. Spring Oaks has the management vision and experience to nurture a culture and DNA that is unique in the industry. To learn more about Spring Oaks, please visit www.springoakscapital.com.
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