Above Lending
“Can a credit-focused consumer lending platform scale unsecured personal loans to underserved borrowers by partnering with a sponsor bank and using ACH-based money movement?”
Founded2011
HQHouston, Texas, USA
Total raised$420M
Latest roundLine of Credit - IV, October 2023
IndustryFintech / Lending
The story
Founded in 2011, Above Lending has operated consistently as a consumer-facing personal loan company offering unsecured installment loans. The company leverages a bank-partnership model with Cross River Bank as the originating lender to enable nationwide lending under Cross River's banking charter. Above Lending's strategy has been focused on ACH-based loan disbursement and repayment, credit-based underwriting, and scaling origination capacity through successive debt facilities totaling $420M.
Last 12 months
Product timeline
2011
Above Lending founded as a consumer lending company based in Houston, Texas.· lending
2021
Secured first line of credit facility to fund unsecured consumer loan originations.· lending
2023
Raised $200M Line of Credit - IV round, bringing total raised to $420M to scale personal loan origination.· lending
The stack
4 layers disclosed in Above Lending’s embedded-finance stack
Money movement
Banking / BaaS
in the full report
Lending
in the full report
Sponsor bank
in the full report
Accounting gap: none
3 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.