Marlette secures $225m Series E to grow Best Egg financial platform
Wilmington, Delaware-based fintech firm Marlette Holdings, whose subsidiaries develop and operate the Best Egg online credit and financial wellness platform, has raised $225 million in a Series E funding round.
The Best Egg platform was launched in 2014
The round was led by the Healthcare of Ontario Pension Plan (HOOPP), an independent provider of pensions specifically tailored to Ontario’s healthcare sector, which manages over $80 billion in assets.
Investment funds advised by Davidson Kempner Capital Management LP as well as an undisclosed “large international bank” also participated.
The company claims the Best Egg platform had a “record-breaking year” in 2021, bringing in $300 million in revenue and facilitating $4.6 billion in personal loans. It also launched a Visa credit card product and a new financial health tool.
The firm has facilitated more than $16 billion in consumer loans since the platform’s launch in 2014.
Andrew Deringer, chief capital officer at Marlette, says: “This capital raise allows us to fund our growing credit card business, explore expansions to our platform and evaluate additional strategic opportunities to create more value for our target consumer.”
