Happy Money lands $500m loan deal with Fortress, Edge Focus

By Puja Sharma

Happy Money has signed a loan purchase deal with Fortress Investment Group (“Fortress”) and Edge Focus, who will buy up to $500 million in personal loans to help the company expand its debt consolidation offerings.

This forward-flow purchase agreement will provide flexible and scalable capital to fuel the expansion of Happy Money’s personal loan product, enhancing the company’s ability to serve more consumers and meet the growing demand for its loans.

This funding agreement comes as U.S. consumer credit card balances reach record highs, reinforcing the need for lending solutions that save borrowers time and money.

“We believe that Happy Money’s strong underwriting, data-driven approach and proven track record in lending make this forward flow agreement a compelling investment opportunity for our fund investors,” said Bart Stankiewicz, Managing Director at Fortress Investment Group. “We’re energised about supporting Happy Money’s continued growth in delivering meaningful financial solutions for borrowers while seeking to generate value for our investors.”

Happy Money has built a fully digital lending platform that provides consumers with personal loans designed to help them pay off credit card debt more quickly and affordably. To date, the company has originated over $6 billion in personal loans, empowering more than 300,000 individuals nationwide to take greater control of their financial futures. This offering also provides lending partners with assets that have the potential to enhance portfolio diversification and deliver strong risk-adjusted returns.

“Happy Money offers an industry-leading debt consolidation solution that prioritises consumers’ best interests while ensuring strong portfolio performance for lending partners,” said Sean Mills, Chief Technology Officer of Edge Focus. “Our new agreement with Happy Money and Fortress enables us to invest in high-quality loans that provide a path to financial stability for thousands of consumers.”

The new capital from Fortress and Edge Focus will enable Happy Money to scale efficiently, expand its marketing reach, and serve an even broader range of consumers seeking relief from high-interest credit card debt.

“At Happy Money, we’re on a mission to use lending as a force for good, and this funding agreement will increase our capacity to help even more people improve their financial well-being,” said Matt Potere, CEO of Happy Money. “Partnering with Fortress and Edge Focus strengthens our ability to meet the rising demand for responsible lending and expand access to debt consolidation solutions that put borrowers first.”