PHILADELPHIA, PA, March 19, 2018 – Thrivest Legal Funding, LLC. (“Thrivest” or the “Company”) announced today that the Company recently closed a new senior structured credit facility of up to $50 million with a leading alternative asset lender and investor focused on specialty finance. Thrivest is an established pre-settlement legal funding company with legal advances funded across 44 states. This new facility will provide the Company with a significant amount of available capital, allowing Thrivest to take advantage of pre-identified market opportunities nationwide, as mentioned by President Brian Simon; “Having up to $50 million in available capital combined with our strong underwriting and tech-enabled processes propels Thrivest to become one of the true leaders in this fragmented sector. Our primary focus is to grow originations nationwide, namely by providing other funders with the ability to finance advances through partnerships with Thrivest. Other funders would retain part of the upside, reduce operational drag, and therefore provide them the ability to generate higher profits in their business and increase focus on their growth.”
In that vein, Thrivest has introduced the Partnership Funding Program to help capital constrained industry players to grow while retaining their independence.
Bryant Park Capital acted as exclusive financial advisor in connection with this transaction.
“Bryant Park came in at a critical time in our life cycle and helped us during every step of our growth process during the last 1.5 years. They were invaluable in guiding our transition from an early-stage funder to an industry leader getting us access to significant capital”