Achieve lands $225m debt facility

O’Connor Capital Solutions and an unidentified “multi-trillion-dollar asset manager” have issued a new $225 million financing facility to the California-based fintech company Achieve.

Achieve provides digital personal finance and lending services including house loans, personal loans, and aid with debt, as well as financial tools and education materials, with a focus on underserved people in the US.

Since its founding in 2002, the company claims to have helped over a million consumers and settled or consolidated over $24 billion in debt.

The company uses “modern technology powered by deep data and analytics,” according to Achieve CFO Ralph Leung, to provide users with tailored services.

Achieve intends to use the additional money to finance platform technological upgrades, marketing expansion, and the creation of fresh product ideas.

Leung continues, “the new partnership speeds our growth of existing products, supports the development of new solutions and brings our capabilities to market through our new brand.”