Elevate, a Fort Worth-based tech-enabled provider of innovative and responsible online credit solutions, announced the closing of a $655 million credit facility that strengthens the company’s financial foundation and supports continued investment in its platform, brands and growth.
The facility represents one of the largest financings in Elevate’s history and extends relationships with key lending partners that have supported the company for nearly a decade.
The new facility enhances Elevate’s funding structure by lowering cost of capital, increasing committed capacity, and providing greater flexibility to support disciplined growth across its product portfolio, including RISE and Elastic.
“This transaction reflects both the scale of our platform and the strength of our long-term partnerships,” said Jason Harvison, president and CEO of Elevate. “Raven, Hudson Cove, and Bow River have been consistent partners as we’ve built a more durable, disciplined business, and this facility positions us to continue that progress.”
For Elevate the facility represents more than a milestone. It provides added capacity for the continued support of long-term financing from partners who have backed the company through multiple stages of growth.
“We are pleased to extend our long-standing relationship with Elevate through this refinancing,” said Jeremy Tucker, founding member and principal at Raven Capital. “The company has demonstrated consistent progress in building a differentiated platform, and we are proud to support its continued growth.”
Elevate is a majority owned subsidiary of Catalyst Capital Acquisition Corp, which acquired the company in 2023. Since then, Elevate has continued to invest in its technology, product offerings and operating discipline while reinforcing its role as a trusted partner to the more than 150 million Americans who are underserved by traditional financial institutions.
The transaction adds to Elevate’s recent momentum and marks another step forward for the company, its team and the consumers it serves. With a stronger, more flexible capital structure in place, Elevate is positioned to continue strengthening its brands, serving consumers responsibly and pursuing disciplined growth.
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