defi SOLUTIONS Raises $55 Million from Bain Capital Ventures

Lending industry software provider defi SOLUTIONS has announced $55 million in a Series C funding round from Palo Alto-Calif.-based Bain Capital Ventures. The deal included both direct and secondary transactions.

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Founded in Grapevine, Texas in 2012, defi SOLUTIONS offers loan origination solutions and auto loan origination software, replacing outdated, inflexible loan origination systems. The Software-as-a-Service provider touts its browser-based loan origination system as completely configurable, quick to implement and ready with actionable insights based on real performance. Throughout the application life cycle, the defi provides collection, analysis and custom reporting. Defi SOLUTIONS is marketed as more affordable, scalable and easily changed with market demands than any other platform.

Since launch, defi SOLUTIONS says it has experience a 70% compounded annual growth rate or greater. Over the most recent five years, the company has focused on improving its loan origination system while developing a full platform of services for independent and captive finance companies, banks, credit unions, solar providers, Buy Here Pay Here dealers, and personal and business lending. Its most recent additions to its platform include a loan management and servicing system (LMS), an analytics and reporting system for real time reporting and a digital loan document service with e-signature.

“This partnership with Bain Capital Ventures will position us to even better meet the demands of top 20 auto lenders as well as lenders of all sizes,” said defi founder and Chief Executive Officer Stephanie Alsbrooks in a press release. “I am very excited to lead our team into this next growth phase while utilizing vast resources and knowledge of the Bain team.”

The financial technology platform will use the most recent funding to expand facilities and grow its employee base by nearly 50% in 2018.

Bain Capital Ventures is a tech-focused investment firm which targets seed to growth stage startups “leveraging technology to disrupt existing markets or create entirely new ones.” Founded in 1984, BCV has helped launch and commercialize over 200 companies in areas across infrastructure software, SaaS and data services, security, commerce, fintech and healthcare. Notable investments include Wal-Mart Stores Inc.-owned, DocuSign, LinkedIn, AvidXchange, SendGrid, InAuth, SurveyMonkey and Kiva Systems. Bain currently has approximately $3 billion in assets under management.