PowerPay Successfully Closes $60 Million Corporate Bond Led by KeyBank as Sole Private Placement Agent

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Oct 29, 2024, 12:41 ET

Partnership advances a mutual commitment to financing for residential homeowners and elective healthcare nationwide.

PHILADELPHIA, Oct. 29, 2024 /PRNewswire/ -- PowerPay, a leader in digital point-of-sale home improvement and patient lending, is pleased to announce the successful closing of an investment grade corporate bond issuance with KeyBank serving as the sole private placement agent. This financing is a significant step in PowerPay's strategic growth plan, enabling the company to enhance its operational capabilities and expand its market presence.

The bond issuance provides PowerPay with the necessary capital to invest in technology advancements, scale its service offerings, and further develop innovative solutions. KeyBank's commitment as the private placement agent underscores the bank's confidence in PowerPay's business model and growth trajectory.

"We are thrilled to partner with KeyBank in this important financing round," said Mike Petrakis, Founder & CEO at PowerPay. "This financing will allow us to accelerate our growth, enhance our technology, and better execute on the Company's financing initiatives."

KeyBank's robust financial support, combined with its deep understanding of the digital lending sector, positions PowerPay to capitalize on emerging opportunities in the market. The Company remains focused on delivering superior lending solutions while maintaining a commitment to compliance and customer satisfaction.

This financing marks a pivotal moment for PowerPay as it continues to position itself as a key player in the home improvement and elective healthcare industries. The Company looks forward to leveraging this partnership to enhance its service offerings and achieve its strategic goals.

For more information about PowerPay's home improvement and healthcare loan options, visit www.getpowerpay.com.

About PowerPay

Launched in 2018, PowerPay is a leading provider of digital point-of-sale lending solutions, dedicated to delivering innovative and efficient services to the home improvement and patient finance sectors. With a focus on technology and customer experience, PowerPay is committed to revolutionizing the way businesses manage their loan offerings. Since its inception, PowerPay has processed over $8 billion in consumer loans. www.getpowerpay.com.

Media & Investor Relations:
Bennett Andelman
[email protected]

SOURCE PowerPay