Achieve Fuels Digital Personal Finance Transformation with New Fully Committed $225 Million Debt Capital

SAN MATEO, California., October 20, 2022 /PRNewswire/ — Reachthe leading provider of digital personal finance, announced today that it has raised a new credit facility totaling $225 million with participation from O’Connor Capital Solutions, the personal lending unit of UBS O’Connor LLC, and others including a multi-trillion dollar wealth manager. The credit facility is fully committed.

Achieve recently announced a major strategic initiative including a rebrand and an expanded offering designed to better serve the needs of 123 million consumers The United States who want to improve their financial lives. The capital will drive Achieve’s transformation by accelerating technology investment and development; Enhancing high-tech and human-touch experiences for members and consumers; strengthening marketing and branding efforts; and supporting the research and development of new technologies and offerings that will meet the growing personal finance needs of this underserved market.

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“Traditional banks and fintechs often ignore large parts of the consumer population. Many startups don’t have the years of experience or the depth of data to build solutions that address consumer needs or credit profiles,” said Achieve co-founder and co-CEO Andrew Hauser. “At Achieve, our approach to digital personal finance is designed for everyday life; serving more than 123 million adults in… The United States who struggle to aspire financially. This additional capital will drive our next chapter of growth and innovation to provide personalized solutions that best meet consumers’ needs.”

Achieve’s solutions include personal loans, home loans and debt assistance, as well as a variety of financial tools and educational resources. Since its inception in 2002, the company has served over 1 million consumers and has dissolved or consolidated over $24 billion indebted to its members. Achieve is headquartered in San Mateo, Californiaand has more than 2,700 teammates across the country.

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“Achieve is a leading financial services company that helps everyday people take control of their financial lives. And we do it with heart. Our unique business model offers complementary solutions, modern technology powered by extensive data and analytics, and most importantly, empathetic teammates with experience in delivering personalized support to meet our members’ needs,” said Achieve CFO Ralph L Leung. “This partnership with high-profile institutions like UBS O’Connor accelerates our growth of existing products, supports the development of new solutions and brings our capabilities to market through our new brand.”

Sullivan & Cromwell LLP acted as legal counsel and Jeffries acted as sole arranger and bookrunner for Achieve.

About Achieve

Achieve is a leader in digital personal finance. Our solutions help everyday people get on and stay on the path to a brighter financial future with innovative technology and personalized support. Leveraging proprietary data and analytics, our solutions are tailored to every step of a consumer’s financial journey, spanning personal loans, home loans, debt help, and financial tools and education. Achieve is headquartered in San Mateo, California and has more than 2,700 dedicated employees across the country with hubs in California, Arizona and Texas. The predecessor brand was regularly recognized as the Best Place to Work.

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Achieve and its affiliates are subsidiaries of Freedom Financial Network Funding, LLC, including Bills.com, LLC d/b/a Achieve.com (NMLS ID #138464); Freedom Financial Asset Management, LLC d/b/a Achieve Personal Loans (NMLS ID #227977); and Lendage, LLC d/b/a Achievement Loans (NMLS ID #1810501).

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