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Neuberger Berman to Buy $1 Billion in Consumer Debt From Fintech
Neuberger Berman Group is buying as much as $1 billion of loans from consumer lender ClarityPay over the course of the next few years, marking the largest purchase agreement for the financial technology startup, according to a statement seen by Bloomberg News.
Neuberger Berman Group is buying as much as $1 billion of loans from consumer lender ClarityPay over the course of the next few years, marking the largest purchase agreement for the financial technology startup, according to a statement seen by Bloomberg News. The asset manager will purchase retail and medical point-of-sale loans made by ClarityPay to consumers. The partnership between the pair is structured as a forward-flow agreement, which gives Neuberger Berman the option to buy a certain amount of ClarityPay-created loans over time.
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