Market Overview

Applied Data Finance Closes $145 Million Financing in Equity and Debt Capital


Applied Data Finance, LLC (ADF), a leading technology-enabled lender and
asset manager, announced today that it has closed $145 million of equity
and debt financing.

MAI Capital Management, LLC (MAI), Victory Park Capital Advisors, LLC
(VPC) and Park Cities Asset Management, LLC (PCAM) were the primary
participants in the transactions, along with several new and current
family office investors.

Through its Personify Financial online lending platform, ADF provides
unsecured, personal loans to consumers often overlooked by traditional
financial institutions. This new capital will fuel ADF's continued
growth and allow the company to reach even more individuals in need of
straightforward, affordable loans.

"Since we founded ADF, we've employed an unrelenting focus on careful
testing and risk management. We view this successful fundraising as a
validation of that approach, and we are now poised to accelerate the
growth of our business," said Krishna Gopinathan, Co-Founder and Chief
Executive Officer at ADF.

Founded in 2014, ADF has originated over $100 million in loans and has
grown to 180 employees with offices in New York, San Diego and Chennai,
India. Since its inception, ADF has raised total financing of $275

"ADF combined talent with a history of innovation in the industry with
financial, technological and capital markets acumen to bring a new
lending model to the market. We believe ADF has great opportunities for
growth," said Rick Buoncore, Managing Partner of MAI. "The number of
Americans without a financial cushion is stunning. With no access to the
traditional banking and credit system, ADF's innovative and responsible
approach to lending is a welcome relief to these individuals."

"Our team has worked with consumer lenders for over a decade. Looking
back, the product ADF has already developed is exceptional. Looking
forward, we see enormous growth potential as ADF expands on its current
markets and product offerings," said Alex Dunev, Managing Partner of

About Applied Data Finance

ADF, through its Personify Financial brand, is the trusted financial
partner for thousands of underestimated under-banked consumers.
Combining state-of-the-art technology and world-class application of
advanced data science and machine learning, ADF is setting a new
standard for assessing non-prime borrower credit and fraud risk. Learn
more at and

About MAI Capital Management

MAI is a registered investment advisor based in Cleveland, Ohio, with
offices in Ponte Vedra Beach, FL; Nashua, NH; Columbus, OH; and Irvine,
CA. The firm manages and advises approximately $5 billion in assets as
of June 30, 2018, and provides comprehensive investment management and
planning services to high net worth individuals, families and athletes.
MAI is led by Managing Partner Rick Buoncore who oversees a team of more
than 95.

About Victory Park Capital Advisors, LLC

VPC is a privately-held, SEC-registered, alternative investment firm. As
an internationally recognized financial services investor, VPC finances
both emerging and established businesses seeking liquidity and/or
capital structure reforms with the goal of accelerating value creation.
The firm's offerings leverage broad special situations and credit
structuring expertise, differentiated deal origination, creative
financing capabilities and a deep network of industry relationships. VPC
was founded in 2007 and is headquartered in Chicago with additional
offices in New York and Los Angeles. For more information, please visit

About Park Cities Asset Management

PCAM is an alternative credit manager focused on deploying capital
across asset classes in the Specialty Finance and FinTech sectors. PCAM
and its predecessor firm has been investing for over a decade and is led
by J. Andrew Thomas, Alex Dunev and Tom Dundon. PCAM provides investment
advice and offerings managed by its SEC Registered Investment Advisor,
Park Cities Advisors, LLC.

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