ChargeAfter Announces Strategic Partnership with Foundation Finance
ChargeAfter, a prominent embedded lending platform, has announced a strategic partnership with Foundation Finance to enhance financing options for home improvement contractors and their clients. This move underscores ChargeAfter’s commitment to expanding its reach and strengthening its leadership in home improvement financing.
Expanding Lending Network
Operating from New York, ChargeAfter’s embedded lending network is designed to optimize point-of-sale financing processes. By leveraging its advanced waterfall financing technology, the platform is helping contractors instantly pair customers with the most suitable financing options. The inclusion of Foundation Finance into this network is set to broaden access to home improvement loans, catering to near-prime customers with financing of up to $100,000 and repayment terms extending to 20 years.
Enhancing Customer Experience
This collaboration aims to boost approval rates and enhance overall customer experience in the home improvement sector, where financial decisions are often made in domestic settings. Andrea McCullion, Chief Business Development Officer at Foundation Finance, notes, “As home improvement providers adopt a multi-lender financing approach, ChargeAfter enables them to simplify the process.”
McCullion further emphasized the benefits of this partnership, stating, “Through this alliance, Foundation Finance products are readily available to customers at crucial moments, empowering contractors to offer more comprehensive financing solutions with reduced complexity. Our joint efforts are making financing more accessible and efficient for both homeowners and contractors.”
Strengthening Market Position
ChargeAfter CEO, Meidad Sharon, expressed enthusiasm about integrating Foundation Finance into their network. “We are thrilled to welcome Foundation Finance, further cementing ChargeAfter’s status as the premier platform for home improvement financing,” said Sharon. He elaborated on the advantages stating that Foundation Finance’s competitive terms and substantial approval limits offer contractors increased flexibility in meeting customers’ financial needs.
With ChargeAfter’s streamlined platform, contractors can effectively manage the financing process, supported by post-sale features like advanced analytics, which are vital for simplifying financing management and fostering growth.
About ChargeAfter
ChargeAfter is reshaping the loan industry through its groundbreaking embedded lending network, which simplifies consumer financing for merchants and financial institutions at the point of sale. Driven by an extensive network of lenders and a sophisticated data-matching engine, the platform consolidates credit distribution into a compact, secure system, enabling merchants to implement its omnichannel software across various sales platforms. Supported by investors such as Visa, Citi Ventures, and Synchrony Financial, ChargeAfter is on a mission to provide customizable financing alternatives to consumers worldwide.
About Foundation Finance
Since its establishment in 2012, Foundation Finance has specialized in providing point-of-sale financing solutions for home improvements, catering to consumers across all credit backgrounds. Operating nationwide, the firm has empowered over 13,000 contractors and serves several hundred thousand homeowners. Foundation Finance has been part of the InterVest Capital Partners portfolio since September 2022.
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