US-based consumer finance solutions provider ClarityPay has secured up to $1bn capital financing from funds managed by Neuberger Berman’s Specialty Finance group.
ClarityPay provides point-of-sale lending solutions to merchants, customised to different customer segments, while simplifying operations both in-store and online.
The firm provides merchants with credit customised to their unique customer segments, while simplifying operations across in-person and online sales channels.
The capital financing programme builds on ClarityPay performance, rapid expansion of its product suite, and overall growth trajectory.
Neuberger Berman is an employee-owned, private, independent investment manager with more than 2,800 employees in 26 countries.
The firm manages $508bn of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals.
ClarityPay said the transaction is expected to further strengthen Neuberger Berman’s position as a provider of asset-based lending strategies.
Neuberger Berman speciality finance team head Peter Sterling said: “We are incredibly excited to deepen our relationship with ClarityPay.
“Their innovative platform, coupled with their focus on both merchant profitability and consumer success, makes them a uniquely compelling investment.
“This deal reflects our confidence in ClarityPay’s potential to deliver high-quality financial products which meet the evolving needs of businesses and consumers alike.”
With advanced data models and underwriting, ClarityPay serves customers from sub-prime to super-prime with instant decisions and a fully configurable suite of offers.
The company’s platform empowers merchants with a focus on three important areas, adaptive customer offers, full-spectrum lending, and seamless and scalablility.
It enhances customer conversion rates by providing customised financing solutions, allowing merchants to customise offers that suit their financial objectives.
To enhance approval rates, ClarityPay provides lending strategies that cater to all credit segments while maintaining responsible lending practices and long-term capital stability.
Furthermore, the platform can complement existing merchant financing solutions or function as a comprehensive standalone option, managing operational support and reporting needs.
ClarityPay founder and CEO Houman Motaharian said: “Traditional credit issuers tend to focus on their own consumer strategies, which often don’t align with merchants’ needs.
“We empower merchants to take full control of their commerce flows by providing capital to serve more of their clientele and elevate their brand. We are merchant first so that merchants can be customer first.”
“Peter and the Neuberger team, along with DR Bank, EXL, Skeps, and TransUnion supported a shared commitment to intelligent lending that responsibly advances exceptional experiences for merchants and their customers.”
