D.A. Davidson & Co. announced today that it has served as exclusive strategic and financial advisor to EarnUp on its oversubscribed Series C funding. Included in this round are new strategic investors LendingTree (NASDAQ:TREE) and KeyBank (NYSE:KEY) in addition to leading institutional investors Bain Capital Ventures, SignalFire, Blumberg Capital, and Flourish Ventures.
Based out of San Francisco, CA, EarnUp is an award-winning, consumer-first payments technology platform that intelligently automates loan payment scheduling. With a mission to create a financial system that can work for everyone, EarnUp is reinventing the payment and data flows in the mortgage and consumer debt ecosystems.
“EarnUp’s values are exemplified with this latest round of funding. We are fearlessly challenging a flawed financial system and creating an environment of exceptional people and partnerships,” said Nadim Homsany, EarnUp co-founder and CEO. “The addition of strategic investments from LendingTree and KeyBank shows that EarnUp is moving in an intentional direction that will have a positive impact on the mortgage and consumer debt industries.”
Currently the company serves lenders, servicers, and borrowers across the U.S. and manages over $10 billion in loan payments. With this investment, EarnUp expects to enhance and accelerate development of enterprise products to further help mortgage companies reduce risk and streamline business operations in a compassionate way while improving overall borrower financial health and ensuring they have access to the best credit products available based on their financial standing.
“The D.A. Davidson team was invaluable in helping us consummate this successful capital raise,” added Homsany. “Their deep domain expertise and firm understanding of the mortgage and payments ecosystems and commitment throughout the process made sure we selected the right partners and achieved a positive outcome for all shareholders.”
“EarnUp is a distinctly unique and exceptional platform,” said Aalap B. Merchant, managing director and co-head of Technology Investment Banking at D.A. Davidson. “Nadim and his team are raising the benchmark with their uncompromising focus on innovating solutions that benefit the borrower and enterprise equally. Now, with strategic investors like LendingTree and KeyBank, we look forward to the company’s continued growth and success.”
This transaction highlights the ongoing success of D.A. Davidson’s Technology Investment Banking practice, which completed 57 transactions representing approximately $11.4 billion in value in 2021. D.A. Davidson’s Investment Banking division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle market clients worldwide across four industry verticals: consumer, diversified industrials, financial institutions and technology.
Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the common brand of D.A. Davidson MCF International.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,475 employees and offices in 28 states.
Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.
For information, visit dadavidson.com.
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