Vervent
“Can a fintech servicer build a scalable non-prime consumer credit card origination and servicing platform backed by institutional capital?”
HQSan Diego, CA, USA
IndustryFintech / Lending
The story
Vervent operates as a fintech servicing company focused on non-prime consumer credit card programs. The company services a portfolio of unsecured credit cards—Revvi, Total Visa, First Access, and Total Select—targeting underserved consumers, and has progressively secured institutional forward flow capital agreements to fund origination growth. The partnership with CoreCard for credit card processing and institutional deals with Castlelake and Mesirow reflect a deliberate build-out of the embedded credit card servicing and origination stack.
Last 12 months
Product timeline
2024
Castlelake and Vervent reached a forward flow agreement for up to $180 million to finance Revvi, Total Card, and First Access credit card program originations.· lending
2026
Vervent announced an $80 million funding partnership led by Mesirow Alternative Credit to expand consumer credit card programs including Revvi, Total Visa, First Access, and Total Select.· lending
The stack
Card issuing
Lending
Accounting gap: none