Fort Worth-Based Elevate Closes $655 Million Credit Facility to Fuel Next Phase of Growth

Elevate, a Fort Worth-based provider of online credit solutions, announced the closing of a $655 million credit facility aimed at strengthening its financial foundation and supporting its growth strategy. This financing marks one of the largest in the company's history and extends partnerships with key lending affiliates that have supported Elevate for nearly ten years.

The new credit facility improves Elevate's funding structure by reducing the cost of capital, expanding committed capacity, and offering increased flexibility, which is expected to facilitate disciplined growth across its product offerings, including RISE and Elastic.

Jason Harvison, president and CEO of Elevate, stated, "This transaction reflects both the scale of our platform and the strength of our long-term partnerships." He highlighted the consistent support from Raven, Hudson Cove, and Bow River in building a more resilient and disciplined business and noted that the facility positions Elevate to sustain its progress.

Jeremy Tucker, founding member and principal at Raven Capital, expressed satisfaction with extending the relationship with Elevate through the refinancing, emphasizing the company's consistent progress in creating a differentiated platform.

As a majority-owned subsidiary of Catalyst Capital Acquisition Corp since 2023, Elevate has prioritized investment in technology, product offerings, and operational discipline. The firm aims to responsibly support over 150 million Americans who lack access to traditional financial institutions.

The financing transaction further enhances Elevate's recent momentum, positioning the company to strengthen its brands, responsibly serve consumers, and pursue disciplined growth.