Funding from Center for Financial Services Innovation (CFSI) Partner to Accelerate Growth in 2012
L2C, Inc., a consumer scoring and analytics company offering standard and customized analytical solutions for the consumer credit industry, announced today the closing of a strategic investment by Core Innovation Capital, the investment partner of the Center for Financial Services Innovation (CFSI).
The financing will be used to build out additional analytical and service capabilities for L2C’s strong existing customer base, as well as delivering services to other financial institutions looking to serve a significant market with an industry leading suite of analytical and data services on a secure, scalable and cost-effective platform.
L2C is the nation’s leading provider of advanced consumer scoring and analytics solutions. L2C uses alternative payment and asset data to create new predictive credit, collection and marketing scores for over 250 million Americans. L2C’s clients include leading institutions in the financial service, retail, healthcare, automotive, telecommunication, and media and entertainment industries.
L2C solutions leverage alternative, leading indicator data to inject insight, clarity and confidence into credit risk decisions across the credit lifecycle. L2C’s unique product suite provides customers with the data required to make proactive and intelligent decisions that lead to higher growth, lower risk and improved profit margins.
“Our increasingly diverse client base reports significantly improved account acquisition and profitability metrics from using L2C solutions in the areas of marketing, acquisitions, fraud and portfolio management,” says Mike Mondelli, L2C’s co-founder and CEO. “The investment by Core Innovation Capital will allow us to continue to innovate for our clients and grow in this exciting market.”
L2C’s unique value proposition is that the Company’s solutions do not replace an organization’s credit decisioning structure; rather they enhance it using new data sources and proprietary models to improve decisions on existing customers and enable better identification of lower risk emerging credit consumers.
“We are very impressed with L2C’s growth, its leading technology platform and their high-value analytical and financial offerings. It is a perfect fit for our mission to provide the best value to underbanked consumers by supporting growth-stage financial technology companies,” said Mike Harris, a managing partner at Core Innovation Capital.
Mike Mondelli is the President and CEO of L2C. He is nationally known as a leader in alternative credit data and is focused on business and product development for L2C. Mike led the installation of L2C’s family of risk and marketing scores for Fortune 500 clients through the development of innovative distribution agreements for L2C services.
About Core Innovation Capital
Core Innovation Capital is the only venture capital fund that invests exclusively in financial technology companies serving America’s underbanked consumer market. Its target segment consists of more than 60 million consumers, who generate over $1 trillion in annual income and spend more than $45 billion in fees and interest on financial services per year. The fund partners with proven entrepreneurs who seek above market-rate returns and share its vision to improve the lives of low- to moderate income Americans. For more information about Core Innovation Capital, visitwww.corevc.com.
The Center for Financial Services Innovation (CFSI), the leading industry authority on financial services for underbanked consumers, is an investor and strategic partner to Core Innovation Capital. For more information, visit http://www.cfsinnovation.com.
L2C is the nation’s leading provider of advanced consumer scoring and analytics solutions. L2C leverages alternative payment and asset data to create new predictive credit, collection and marketing scores for over 260 million Americans. L2C’s clients include leading institutions in the financial service, retail, healthcare, automotive, telecommunication, and media and entertainment industries. For more information regarding L2C or its products and services, please visit http://www.L2C.com or contact L2C at 404-601-3420.