Jefferies Provides Warehousing Credit Facility to Momnt and Saluda Grade Joint Venture
ATLANTA–(BUSINESS WIRE)–Momnt, a leading fintech company specializing in real-time lending and payment solutions for businesses, and Saluda Grade, a synergistic and vertically integrated investment platform investing in emerging asset classes within the U.S. real estate sector, have secured an uncommitted asset-backed revolving warehousing facility of up to $150 million from Jefferies. The facility will provide Saluda Grade with the additional capacity to purchase Momnt-facilitated home improvement loans to further its goals of broadening institutional support of the asset class via securitization and improving access to home renovation financing to the U.S. homeowner.
“Momnt is thrilled to partner with Saluda Grade and to obtain warehouse financing from Jefferies as we continue to expand our home improvement business,” said Chris Bracken, Chief Revenue Officer of Momnt. “We are strong believers in the creditworthiness of the U.S. homeowner, and we are excited about the opportunity to provide attractive financing to homeowners while supporting the small businesses who rely on our financing platform.”
Headquartered in Atlanta, Momnt launched its platform in 2020 in the home improvement industry and has since grown to become one of the preeminent market leaders in point-of-sale financing.
“We believe Momnt is poised to become a market leader in home improvement financing via embedded technology,” said Brad Hartung, Senior Portfolio Manager of Saluda Grade. “We have been impressed with their ability to scale and execute, and we believe they will continue to effectively address the need to improve the aged U.S. housing stock through differentiated financing options.”
About Momnt
Momnt is a state-of-the-art financial services technology platform that revolutionizes how merchants offer financing. Through Momnt’s embedded lending solution, businesses can effortlessly provide customers with diverse financing products, all delivered through a seamless and streamlined process. In a world where customer expectations are rapidly evolving, Momnt is at the forefront of innovation, empowering merchants to meet the range of financial needs of their customers. If you’re a merchant interested in learning more about offering promotional financing, visit momnt.com.
About Saluda Grade
Saluda Grade is a synergistic and vertically integrated advisory and asset management platform focused on investments in the alternative non-bank lending sector, real estate debt and equity, and hard assets sector. Headquartered in New York City, the Firm was founded in 2019. See www.saludagrade.com for additional information.
Disclaimer:
This press release is for informational purposes only and is neither an offer to sell nor the solicitation of an offer to any for any other securities, and shall not constitute an offer, solicitation or sale. Any offers will be made only by means of a private offering memorandum.
Forward-looking statements:
Statements in this press release have “forward-looking statements” and are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed in such forward-looking statements.
Contacts
Momnt PR Contact [email protected]
Momnt Investor Contact [email protected]
Saluda Grade [email protected]
