Wellington Management

Wellington Management Company LLP, founded in 1928 and headquartered in Boston, Massachusetts, is a prominent investment management firm providing comprehensive solutions to institutional clients worldwide. The firm specializes in a diverse range of investment strategies, including equity, fixed income, multi-asset, and alternative investments, tailored to meet the unique return and risk objectives of its clients. Wellington Management employs a collaborative approach, leveraging proprietary research and analytical tools to identify opportunities and manage risks across global capital markets. The firm caters to a wide array of clients, including sovereign institutions, endowments, foundations, wealth managers, and insurance companies, spanning more than 50 countries. With a focus on long-term investment principles, Wellington Management fosters independent thought and debate within its teams, ensuring that resources are effectively utilized to deliver consistent results. The firm also emphasizes environmental, social, and governance (ESG) considerations in its research and investment processes, engaging with companies on key ESG topics.

Michael Carmen

Senior Managing Director, Partner, Private Equity Lead Portfolio Manager and Equity Portfolio Mgr

Adam Fraser

Managing Director

Kelly McDonnell

Vice President

Joshua Sommerfeld

Private Equity Principal

Past deals in Credits and Lending

Creditas

Series F in 2022
Creditas is a financial technology company based in São Paulo, Brazil, specializing in secured consumer loans. Founded by Sergio Furio, the company operates a digital platform that leverages credit scoring and borrower assets, such as homes and automobiles, as collateral to provide loans. This approach allows Creditas to offer affordable lending solutions by partnering with traditional financial institutions and utilizing investor-backed resources. The platform is designed to enable borrowers to repay their loans in manageable installments, thereby making financing more accessible.

Dave

Post in 2022
Dave Inc. is a financial services company based in Los Angeles, California, founded in 2015. The company has developed a mobile application designed to assist users in managing their finances by providing insights into bank overdrafts and predicting expenses. The app enables users to avoid overdraft fees and low balances by offering features such as paycheck advances, budgeting tools, and resources for finding side gigs. With a focus on helping users maintain financial stability, Dave serves approximately 7 million Americans by providing essential tools for budgeting and credit building. The application is accessible on both the App Store and Google Play, positioning Dave as a key player in the challenger bank space.

Learneo

Series C in 2021
Learneo brands and platforms are pioneering advances in a wide range of applications for emergent technologies, including the use of AI to improve people's writing, reading and math skills, in school, professional and daily life. The platform of businesses includes CliffsNotes, the original and iconic study guide company; Course Hero, an online learning platform of academic resources; LitCharts, a creator of literature resources; QuillBot, an AI-powered writing companion helping anyone improve their writing skills; Scribbr, a multilingual academic proofreading service, and Symbolab, an AI-based mathematics resource. Learneo was established in Redwood City, California by Andrew Grauer and Gregor Carrigan.

Lendbuzz

Series C in 2021
Lendbuzz, Inc. is a car financing platform based in Boston, Massachusetts, established in 2015. It specializes in providing car loans to individuals with limited U.S. credit history, including international students, expats, and foreign professionals. The company utilizes machine learning algorithms and data-intensive scoring technology to assess creditworthiness based on factors such as employment, education, and personal history, rather than traditional credit scores or the requirement of a Social Security Number. This innovative approach allows Lendbuzz to offer attractive loan terms to customers who are often overlooked by conventional lenders. Once approved, clients can purchase vehicles from any dealership and work toward building their U.S. credit history while managing their loans through an online platform.

Current

Series D in 2021
Current is a leading U.S. challenger bank built to meet the needs of people with unique lives who have been overlooked by the traditional banking industry. Our proprietary Current Core technology allows us to provide premium banking services for everyone, regardless of age or income, and improve the financial outcomes of our members without overdraft fees, minimum balance requirements, or hidden fees. We give members up to two days faster direct deposit paychecks, free overdrafts up to $100 with Overdrive™ , points on purchases redeemable for cash back, access to 55,000 free ATMs worldwide as well as 24/7 member support 365 days a year.

Greenlight

Series D in 2021
Greenlight Financial Technology, Inc. is a financial services company that provides debit card solutions specifically designed for children, enabling parents to cultivate financial literacy in their kids. Founded in 2014 and headquartered in Atlanta, Georgia, Greenlight offers a mobile application that allows parents to manage their children's spending by selecting specific stores where the Greenlight debit card can be used. The platform features patent-pending technology that empowers parents to monitor spending habits, freeze cards if lost, receive instant alerts, and automate allowances. This approach not only promotes responsible spending but also facilitates teachable moments around earning, saving, and giving.

Paidy

Series D in 2021
Paidy Inc. is a Tokyo-based company that offers a cardless payment platform designed for online shopping. Founded in 2008 and rebranded in 2018, Paidy allows consumers to make purchases using only their name and email address, eliminating the need for credit cards or pre-registration. The service is optimized for mobile and instant-checkout, facilitating a seamless shopping experience. Users can consolidate their purchases into a single monthly bill, enhancing convenience. Paidy employs proprietary technology to assess creditworthiness and underwrite transactions, providing merchants with guaranteed payments. This approach caters to Japanese consumers who prefer not to use credit cards, helping online vendors improve conversion rates, increase average order values, and encourage repeat purchases.

Creditas

Series E in 2020
Creditas is a financial technology company based in São Paulo, Brazil, specializing in secured consumer loans. Founded by Sergio Furio, the company operates a digital platform that leverages credit scoring and borrower assets, such as homes and automobiles, as collateral to provide loans. This approach allows Creditas to offer affordable lending solutions by partnering with traditional financial institutions and utilizing investor-backed resources. The platform is designed to enable borrowers to repay their loans in manageable installments, thereby making financing more accessible.

Current

Series C in 2020
Current is a leading U.S. challenger bank built to meet the needs of people with unique lives who have been overlooked by the traditional banking industry. Our proprietary Current Core technology allows us to provide premium banking services for everyone, regardless of age or income, and improve the financial outcomes of our members without overdraft fees, minimum balance requirements, or hidden fees. We give members up to two days faster direct deposit paychecks, free overdrafts up to $100 with Overdrive™ , points on purchases redeemable for cash back, access to 55,000 free ATMs worldwide as well as 24/7 member support 365 days a year.

Affirm

Series G in 2020
Affirm is a financial technology company that offers installment loans to consumers at the point of sale, allowing them to make purchases from online merchants and pay for them in fixed monthly installments. Founded in 2012 and headquartered in San Francisco, with an additional office in Chicago, Affirm aims to provide transparent financial products that empower consumers and enhance their buying experience. Customers can select Affirm as a payment method at checkout, complete a real-time application, and choose a payment plan that aligns with their budget. The service stands out by offering upfront pricing with no hidden fees or compounding interest, unlike traditional credit options. Affirm partners with over 2,000 merchants across various sectors, including retail, travel, and electronics, to provide consumers with a flexible alternative to credit cards. Loans are facilitated through a partnership with Cross River Bank, ensuring a reliable financing option for users.

Current

Series B in 2019
Current is a leading U.S. challenger bank built to meet the needs of people with unique lives who have been overlooked by the traditional banking industry. Our proprietary Current Core technology allows us to provide premium banking services for everyone, regardless of age or income, and improve the financial outcomes of our members without overdraft fees, minimum balance requirements, or hidden fees. We give members up to two days faster direct deposit paychecks, free overdrafts up to $100 with Overdrive™ , points on purchases redeemable for cash back, access to 55,000 free ATMs worldwide as well as 24/7 member support 365 days a year.

Affirm

Series F in 2019
Affirm is a financial technology company that offers installment loans to consumers at the point of sale, allowing them to make purchases from online merchants and pay for them in fixed monthly installments. Founded in 2012 and headquartered in San Francisco, with an additional office in Chicago, Affirm aims to provide transparent financial products that empower consumers and enhance their buying experience. Customers can select Affirm as a payment method at checkout, complete a real-time application, and choose a payment plan that aligns with their budget. The service stands out by offering upfront pricing with no hidden fees or compounding interest, unlike traditional credit options. Affirm partners with over 2,000 merchants across various sectors, including retail, travel, and electronics, to provide consumers with a flexible alternative to credit cards. Loans are facilitated through a partnership with Cross River Bank, ensuring a reliable financing option for users.

SoFi

Series E in 2015
SoFi is a finance company headquartered in San Francisco, California, that provides a diverse range of lending and wealth management services. Established in 2011, it primarily serves early-stage professionals by offering various financial products, including personal loans, mortgage refinancing, and MBA loans. Additionally, SoFi offers services such as estate planning, credit cards, and small business financing. The company's aim is to help individuals achieve financial independence and reach their goals, whether that involves homeownership, retirement savings, or managing student debt. By creating modern financial solutions, SoFi seeks to assist its customers in borrowing, saving, spending, investing, and protecting their money effectively.

Klarna

Secondary Market in 2015
Klarna is a payment solutions provider that specializes in eCommerce, offering services for both consumers and merchants in several countries, including Sweden, Germany, Austria, Switzerland, and Norway. Founded in 2005 and headquartered in Stockholm, Klarna enables shoppers to select how and when to pay for their purchases through a variety of options such as card payments, direct banking, and installment plans. The company is particularly known for its "buy now, pay later" model, which allows consumers to finance retail purchases without interest over time. For merchants, Klarna provides a comprehensive suite of services that includes technology solutions, credit risk management, and customer administration, facilitating a streamlined shopping experience both online and in-store.

SoFi

Series D in 2015
SoFi is a finance company headquartered in San Francisco, California, that provides a diverse range of lending and wealth management services. Established in 2011, it primarily serves early-stage professionals by offering various financial products, including personal loans, mortgage refinancing, and MBA loans. Additionally, SoFi offers services such as estate planning, credit cards, and small business financing. The company's aim is to help individuals achieve financial independence and reach their goals, whether that involves homeownership, retirement savings, or managing student debt. By creating modern financial solutions, SoFi seeks to assist its customers in borrowing, saving, spending, investing, and protecting their money effectively.

GreenSky

Venture Round in 2014
GreenSky, Inc., a technology company, provides point-of-sale financing and payment solutions to merchants, consumers, and banks. It offers a proprietary technology infrastructure that supports the full transaction lifecycle, including credit application, underwriting, real-time allocation to bank partners, document distribution, funding, settlement, and servicing functions. The company was founded in 2006 and is headquartered in Atlanta, Georgia.
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