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Victory Park Capital

150 North Riverside Plaza Suite 5200, Chicago, Illinois, 60606, United States

Overview

Victory Park Capital (VPC) specializes in asset-backed lending, which includes small business and consumer finance, financial and hard asset loans, and real estate financing.

Total investments
71
Lead investments
42
Investments · 12mo
2
Active investors
11

Sector focus

  • Finance
  • Financial Services
  • Venture Capital
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Investment portfolio

  • Digitt

    Led · Debt Financing · Jun 2026

    Founded in 2019 and based in Mexico, Digitt offers installment loans that allow prime borrowers to refinance or consolidate high-interest credit card balances. The company targets consumers facing credit card annual rates often ranging between 70% and 150%, and its product offers significantly lower annual rates and predictable payments. Digitt leverages technology-driven underwriting, servicing, and a platform built around transparency and responsible lending. The company has a stated track record of accelerated, high-quality growth and aims to scale across Mexico. Its stated mission is to lower the cost of credit for Mexican consumers by expanding access to affordable and flexible credit products.

  • Addi

    Led · Debt Financing · Sep 2025

    Addi operates a digital lending platform that serves more than 2.5 million consumers and 33,000 partner merchants. The company originates consumer and merchant credit and uses these receivables as part of financing structures such as the recently closed warehouse facility. Its debt now totals over $680 million following the new $150 million line led by J.P. Morgan and supported by Fasanara Capital. The platform positions itself as a conversion engine for merchant sales across a mix of SMEs and large brands. With the added liquidity, Addi plans to continue scaling its merchant and consumer network and to consolidate its market position in Colombia while exploring expansion into new markets. Fasanara’s third participation signals ongoing institutional investor confidence in Addi’s underwriting and risk model.

  • Crusoe Energy Systems

    Led · Debt Financing · Aug 2025

    Crusoe Energy Systems develops and operates vertically integrated, energy-sourced data centers optimized for artificial-intelligence computing. Its flagship offering, Crusoe Cloud, provides high-performance GPU resources to customers such as Cursor, Decart, Fireworks, Odyssey and Together AI. The company combines rapid energy sourcing, proprietary data-center design, and a managed AI cloud platform to deliver lower-cost and lower-emission compute. To expand service breadth, Crusoe recently acquired Atero, a GPU management and memory-optimization firm, accelerating its managed AI services roadmap. Geographic expansion is underway: the firm is adding capacity in Norway and Iceland and has opened offices in Dublin, Sunnyvale, and Tel Aviv. Major build-outs include a 1.2-gigawatt data-center campus in Abilene, Texas, and a newly announced 1.8-gigawatt campus in Wyoming, with additional multi-gigawatt sites planned across the U.S. Following its latest financing, the company’s valuation is expected to exceed $10 billion, underscoring strong investor confidence in its growth trajectory.

  • Tapcheck

    Participated · Debt Financing · Apr 2025

    Tapcheck provides an earned-wage-access platform that lets employees access wages they have earned ahead of traditional pay cycles. The platform integrates with employer payroll and timekeeping systems and is offered at no cost to employers while preserving payroll control. Tapcheck reports it has facilitated over $1 billion in early wage funding and served 12,000 employer locations, with employer customers citing more than a 50% improvement in retention and 70% of employees saying it reduces financial stress. The company highlights wide adoption in QSR and frontline care—serving 112,000 McDonald’s employees and enabling over $160M in advance wage disbursement, plus hundreds of thousands of caregivers. Tapcheck emphasizes accuracy and security through a proprietary earned wage access engine and holds an “Excellent” Trustpilot rating. The capital raise will support product development, expand its Mastercard offering, and accelerate the company’s AI capabilities to increase accessibility. Tapcheck is an employee financial wellness and earned wage access platform that gives workers on-demand access to earned wages via a mobile app at no cost to employers. Founded in 2019 and based in Los Angeles, Tapcheck integrates with over 100 payroll and HR systems (including ADP, Paychex, Paylocity, CTR Payroll Services and isolved People Cloud) to estimate net earnings and enable advances. Hundreds of employers offer Tapcheck to hourly employees, including McDonald's, Jack in the Box, and Home Instead, with adoption across nearly 10% of franchised McDonald's locations. Workers can access up to their pay for a small fee comparable to an out-of-network ATM fee, and reported outcomes include 74% of employees experiencing reduced financial stress and 59% feeling more motivated to work. Employers have reported a 74% decrease in absenteeism costs, a 48% reduction in turnover-related costs, and a 50% reduction in hiring costs after adopting the solution. The business grew revenue 10x year-over-year in the past year and plans to use new capital to expand reach and add additional financial wellness benefits.

  • Flex

    Participated · Debt Financing · Mar 2025

    Flex offers an integrated finance platform that streamlines back-office finance and banking for premium business owners. The company acquired Maza and will rebrand it as Flex Consumer to help owners manage commingled personal and business finances. Flex is integrating Maza’s entity-formation and payments tools to expand its product stack and onramp new customers from company creation through profit spending. The combined business sells a zero-fee business banking offering and plans consumer-facing products to address owners who use personal cards for business transactions. Since closing the deal in Q3, Flex reports over 50% growth driven by Maza’s consumer growth engine, user base, and solopreneur tooling. Founders of Maza will take executive roles within Flex to accelerate product and go-to-market integration. Flex provides a bundled financial ecosystem for business owners that combines payment automation, expense management, net‑60 credit cards, and banking into a single platform. Its core product set includes AI‑powered AP Automation, expense management, and support for credit, debit, and B2B payments. Flex processes more than $1 billion in annual total payment volume across those payment types. The company plans to accelerate the buildout of its payments infrastructure and to build a consumer arm enabling business owners to manage personal finances through the same experience. Recent hires include Chief Risk Officer Vishal Saxena, General Counsel & Chief Compliance Officer David Toro, and Head of Product Jared Thomas. The funding will be used to speed product development and expand Flex’s payments ecosystem and personal finance offering for business owners. Flex is a San Francisco–based provider that helps direct-to-consumer health and wellness brands accept HSA and FSA payments online. Its core product suite includes Product Verification, which identifies and processes eligible items at checkout, and Health Check, which leverages telehealth for providers to determine medical necessity for dual-use items. The platform aims to drive new revenue, increase cart sizes and improve customer retention for merchants while helping consumers expand eligible HSA/FSA spending and avoid losing FSA funds at year-end. Customers named in the article include KindredBravely, BedJet and Lumen. Founded by Sam O’Keefe and Miguel Toledo, Flex plans to use its recent funding to accelerate product development and sales and marketing.

Team

  • Richard Levy

    Chief Executive Officer & Chief Investment Officer

    LinkedIn
  • Brendan Carroll

    Partner

    LinkedIn
  • Zack Malkin

    Vice President

    LinkedIn
  • Jeffrey Schneider

    Partner and Chief Operating Officer

    LinkedIn