September 25, 2015, San Francisco – L.R. Capital, a leading investment and alternative asset manager, recently announced its Serial A Investment in Credible.com, a featured platform focusing on student loans.
Credible.com is one of the largest student loans and refinancing platforms in US. The Company was established in 2012, with headquarter in San Francisco. It targets the over $10 billion student loan market and is committed to build the world’s largest student loans and refinancing platform. The student loan market in US has surpassed $1.2 trillion, and its growth rate going up way faster than other types of loans. Credible.com, by its unique technology edges, provides precise and transparent information of both borrowers and lender, and simple and user-friendly application. Since 2012, the Company has bridged over 40,000 US students to financial institutions, and partnered with 40 prestigious organizations with 4 million student members in the country, including the American Medical Association, American Pharmacists Association and Georgia Tech Alumni Association.
The Serial A funding was co-invested by Soul Htite, Founder & CEO of Dianrong.com and Co-founder of Lending Club, Ron Suber, President of Prosper Marketplace, a leading Internet lending platform in US, and US Internet finance pioneer investor Scott Langmack.
“Credible’s unique model is fundamentally changing the dynamics of the loan selection process. We see Credible as a core fixture of the next phase of online lending. “said Soul Htite, member of L.R. Capital’s Global Advisory Committee, Founder & CEO of Dianrong.com and Co-founder of Lending Club.
“We are building Credible for the future of online lending – providing borrowers with choice, better information, and simplicity of process”, said Stephen Dash, Founder & CEO of Credible. “Simply put, we are making student loans more fair. In Soul, Ron and Scott, we have three of the most experienced individuals in online lending which will allow us to accelerate our growth.”