National Credit Care (“NCC” or the “Company”), a leading provider of credit restoration and counseling services, announced today that it has received a growth capital investment from Long Ridge Equity Partners (“Long Ridge”) and Fenway Summer. The investment from Long Ridge and Fenway Summer will support NCC’s continued growth and allow the Company to further enhance its best-in-class product and service offerings.
Founded in 2005, NCC is a leading provider of credit rehabilitation services to consumers in the United States. Most of NCC’s clients are mortgage applicants whose credit scores have prevented them from receiving attractive loan terms. NCC guides customers through the credit restoration process, helping them to remove or correct inaccurate items on their credit reports and build positive credit history through one-on-one counseling. As a result, customers are able to optimize their credit standing and generate significant savings by accessing mortgages and other financial products at lower rates.
“We are thrilled to partner with Long Ridge and Fenway Summer as we enter our next phase of growth,” said NCC’s co-founders, Kyle Kolb and James Hay-Arthur. “We see tremendous opportunity ahead and remain focused on ensuring that our customers receive the best service possible while maximizing their savings. We chose Long Ridge and Fenway Summer as partners due to their successful track records of partnering with high-growth companies, as well as their shared vision for NCC’s potential. We look forward to working together and leveraging their deep domain expertise.”
“We are impressed by NCC’s dedication to its customers and ability to improve their financial lives,” said Jim Brown, Long Ridge’s Managing Partner. “The Company is well positioned to take advantage of a rapidly evolving consumer credit landscape with its attractive value proposition and customer-centric approach.”
“Building and responsibly managing a strong credit score is a critical part of living a healthy financial life. NCC is well positioned to help consumers succeed, and we’re pleased to partner with them in that mission,” said Raj Date, Fenway Summer’s Managing Partner and former Deputy Director of the Consumer Financial Protection Bureau (CFPB).
In connection with the investment, Mark Greene and Ian Cohen will join the board of directors. Greene, who will serve as Chairman, has served as CEO of several public and private companies, including Fair Isaac Corporation (FICO), and brings over 30 years of experience leading and advising companies in the consumer credit and technology industries. Cohen served as CEO of Credit.com and General Manager at Experian, and brings a wealth of knowledge about the consumer credit industry.
“We are pleased to welcome Mark and Ian to our board and team. The board’s deep industry knowledge and proven experience building world-class companies will help us scale the business to benefit our customers and partners,” added Kolb and Hay-Arthur.
KPMG Corporate Finance served as financial advisor and Koenig, Oelsner, Taylor, Schoenfeld & Gaddis PC served as legal counsel to NCC. Golenbock, Eiseman, Assor, Bell & Peskoe LLP and Hudson Cook, LLP served as legal counsel to Long Ridge.
ABOUT NATIONAL CREDIT CARE
National Credit Care is a leading provider of credit restoration and consulting services to thousands of consumers in the United States. With over fifteen years of experience, the company has built a results-driven and collaborative approach to credit rehabilitation that is uniquely focused on helping people optimize their credit standing and achieve their financial goals. To learn more about NCC, please visit: www.nationalcreditcare.com.