Best Egg Continues Record-Breaking Performance in First Half of 2022

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Aug 22, 2022, 09:29 ET

The transformation from a single product to a multi-product platform generates growth in customer accounts

WILMINGTON, Del., Aug. 22, 2022 /PRNewswire/ -- Marlette Holdings, Inc., a leading financial technology company operating the Best Egg financial platform, today announced financial results for the first half of 2022. The Best Egg platform experienced a record-breaking performance in the first half of 2022, with all-time highs in quarterly loan originations, revenue, and pre-tax operating income.

"Our strong performance in the first half of 2022 reflects our transformation from a single product to a multi-product platform," said Jeffrey Meiler, CEO and Founder of Marlette Holdings. "In the first half of this year, we exceeded what we did last year, demonstrating positive momentum across the Best Egg platform. Our strategy of diversifying our offering is increasing value for our customers and putting us in a strong financial position and on track for long-term sustainable growth."

Best Egg has seen tremendous growth over the past two years, accelerating to $21 billion in personal loan originations and 1.8 million accounts since the platform's inception in March 2014. In the first half of 2022, Best Egg added more than 485,000 new consumer accounts across personal loans, credit cards, and financial health and saw a sharp increase in customers using multiple Best Egg products. The Best Egg platform originated $4 billion in personal loans and generated $265 million in gross revenue, up more than 160% year over year.

"Our team's determination to build financial confidence with our customers drives a relentless focus on understanding their needs using sophisticated human and machine insights. This vital information is allowing us to scale our products and services to provide more personalized and meaningful financial solutions for a growing number of people in the U.S. with limited savings," said Jeffrey Meiler, CEO and Founder of Marlette Holdings.

Best Egg generally serves consumers with a good credit profile and enough money to cover their everyday expenses but have limited savings to absorb financial disruptions. They want simple solutions to help them achieve financial stability and feel more confident about their daily finances. Best Egg helps people understand which financial decisions may work for them and offers fast and convenient credit solutions to help alleviate cash flow pain.

Today, Best Egg offers unsecured and secured personal loans, the Best Egg Visa® Credit Card, the free Best Egg Financial Health tool, and is developing a personal loan product secured by automobiles. In March 2022, the company announced $225 million in equity funding.

Recognized as one of the best tech startups in the U.S. by The Tech Tribune in 2022, Best Egg has also built a reputation for attracting top talent. The company has won numerous top workplace awards across the U.S. and Delaware and has more than doubled the size of its workforce in the past 12 months. It has more than 600 employees as of June 30. Learn more about open positions on the Best Egg careers page.

About Marlette Holdings, Inc.
Marlette Holdings, Inc. is a leading financial technology provider whose subsidiaries develop and operate Best Egg, a financial health platform that provides lending products and resources focused on helping people feel more confident as they manage their everyday finances. Since March 2014, Best Egg has delivered $21 billion in consumer personal loans with strong credit performance, welcomed 289,000 members to the recently launched Best Egg Financial Health platform, and empowered over 100,000 cardmembers who carry the new Best Egg Credit Card in their wallet. For more information, visit bestegg.com.

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SOURCE Best Egg