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Arcadea Group announces acquisition of lending platform SPARK

By Delisha Fernandes

June 19, 2023

  • Alternative Lending
  • Arcadea Group
  • b2b lending
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Arcadea GroupSPARK, a SaaS-based lending platform serving the SBA and conventional lending market in the United States, has acquired Arcadea Group, a global, long-hold and growth-oriented SaaS investor.

Arcadea acquired SPARK from Community Reinvestment Fund, USA (“CRF”). This strategic acquisition showcases Arcadea’s commitment to partnering with high-quality businesses with significant long-term growth potential.

“We are extremely impressed by the unique product and service that the SPARK team has developed, along with the tremendous loyalty they have built within their customer base,” said Daniel Eisen, Managing Director at Arcadea Group. With our extensive experience in software operations and forward-thinking growth strategies, we are ready to empower SPARK’s journey towards even greater success. With the continued focus by lenders on digital banking infrastructure, including Lending as a Service (LaaS), we view SPARK as a fantastic addition to our portfolio of companies serving the Community Banking and Credit Union industry.”

SPARK’s user-friendly platform has gained rapid recognition in the SBA and conventional lending market, enabling small business owners to secure the funding they need quickly. With Arcadea Group’s resources and industry expertise,  SaaS-based lending platform is poised to accelerate its growth trajectory and deepen its market footprint.

Nick Elders, the CEO of SPARK, said, “Our mission has always been to create a company and a product that leaves a lasting, enduring and impactful mark on the small business ecosystem, and we see Arcadea as the perfect partner to help us realise that vision. They have deep expertise in software operations and a growth-oriented mindset. We are beyond excited about this next chapter of SPARK.”

The acquisition of SPARK also resonates positively with Community Reinvestment Fund, USA. Jennifer Anderson, President of CRF, said, “We were intent on finding a partner with a long-term vision for SPARK, and we found that in the Arcadea Group. With their ownership, we are confident SPARK will continue to thrive, meeting the needs of our customer base.”

 

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