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Exclusive: Marlette Announces a $225 Million Series E

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For many in the consumer lending space, 2021 was a good year. For Marlette, it was their best year ever. Their Best Egg business booked $4.6 billion in personal loans, generated $300 million in revenue, and hired over 250 people – all records for the company. They also achieved record GAAP profitability.

So, it was from this position of strength that the company proceeded on its latest round of fundraising. Marlette recently closed a $225 million Series E equity raise that was led by Healthcare of Ontario Pension Plan (HOOPP) with participation from Davidson Kempner Capital Management LP, as well as a large international bank.

I caught up with CEO and Founder, Jeffrey Meiler, last week to talk about their record year and this latest round. While he was delighted to close this equity investment I could tell he was just as excited about the direction of the business including the launch of their new card business. He said, “While the US card industry is very mature there are still large numbers of people who are underserved in the near-prime…

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