2 months ago
22
Neuberger Berman Group is buying as much as $1 billion of loans from consumer lender ClarityPay over the course of the next few years, marking the largest purchase agreement for the financial technology startup, according to a statement seen by Bloomberg News.
The asset manager will purchase retail and medical point-of-sale loans made by ClarityPay to consumers. The partnership between the pair is structured as a forward-flow agreement, which gives Neuberger Berman the option to buy a certain amount of ClarityPay-created loans over time.
