Insikt is a San Francisco-based white-label lender that partners with retailers to provide affordable, credit-building loans to underbanked people who lack a credit score. Led by CEO James Gutierrez, the company leverages partner data and relationships to underwrite and distribute loans. Since late 2014, Insikt has processed more than 325,000 applicants across 30 partners in California, Texas and Illinois, totaling 620 stores, and has made 125,000 loans. The company began operating in Arizona last month. Insikt closed a $50m Series D that brings its total funding to $100m. It intends to use the funds for further growth in existing and new markets. Insikt is a San Francisco, CA-based fintech specializing in lending-as-a-service (LaaS). It operates an online loan origination and investing platform that enables brands to lend to their customers and gives accredited investors access to invest in consumer loan portfolios. The company was founded by James Gutierrez, the founder and former CEO of Oportun. Oportun has lent over $4 billion to the U.S. Latino community, a background that informs Insikt’s focus. Insikt plans to use the recent funding to continue to expand operations. No revenue or user metrics were disclosed in the article. Insikt provides a Lending-as-a-Service (LaaS) platform that lets retailers, merchants and banks offer small installment loans while Insikt manages the operational details. Loans are placed on Insikt’s balance sheet for the first few months, powered by capital from partners such as Capital One and Atalaya Capital Management. After each brand accumulates its own portfolio, those loans are pooled and issued as bonds to outside investors. The platform is designed to allow consumers with low or no FICO scores to access installment plans at the point of sale. Insikt says the newly raised capital will be dedicated to fueling company growth. The company is based in San Francisco.

Total raised

$66M

Funding rounds

3

Latest round

Series D

Latest activity

Dec 2017