b2b-daily
Home | FinTech | Digital Lending / Digital Payments

PowerPay Secures $60 Million Bond to Enhance Lending Technology

Avatar photo
by Mikhail Hamilton
November 5, 2024
Image Credit: Freepik
PowerPay Secures $60 Million Bond to Enhance Lending Technology

PowerPay, a US-based digital lender known for its innovative digital point-of-sale lending solutions and established in 2017, has recently secured a $60 million corporate bond exclusively facilitated by KeyBank. With over $8 billion in consumer loans processed to date, PowerPay specializes in home improvement, healthcare, and solar finance lending solutions. This substantial investment aims to enhance the company’s operational capabilities, invest in advanced technology, and develop new solutions. Additionally, the funding will help PowerPay expand its market reach amidst increasing competition in the fintech sector. This move signifies PowerPay’s strategic efforts to strengthen its financial position and advance its technological capabilities, reinforcing its commitment to growth and innovation.

This announcement comes on the heels of Scotiabank’s decision to acquire a 14.9% stake in KeyCorp, the parent company of KeyBank, for $2.8 billion. The acquisition will take place in two phases: a 4.9% stake by the fourth quarter of FY2024 and an additional 10% by FY2025. Armed with this new financial backing, PowerPay is poised to leverage the bond to not only enhance its technological framework but also to explore and implement new and emerging fintech solutions. The collaboration between PowerPay and KeyBank underscores a robust partnership that could drive significant advancements within the digital lending market. As the fintech landscape continues to evolve, PowerPay’s latest move positions it favorably to meet future challenges and seize new opportunities.

Digital TransformationDiversity In TechMoney Management

Explore more

Is UiPath Poised for Growth Amid Institutional Shifts?
October 21, 2026

CEO Daniel Dines recently sold 1,250,000 shares of UiPath at an average price of $13.44, representing a 3.97% reduction in his direct holdings during a period of institutional rebalancing. This transaction highlights a significant moment for the company as it navigates a complex financial landscape where leadership actions are scrutinized alongside broader market shifts. While the sale of such a

How Will Connecticut’s New Law Change Workplace Monitoring?
October 21, 2026

Existing prohibitions against electronic surveillance in restrooms and locker rooms remain unchanged under the new legislative framework passed in Connecticut. The signing of Public Act No. 26-73 by Governor Ned Lamont signals a transformative shift in the relationship between employers and staff members across the state. This legislation addresses the rapid integration of intrusive technologies like smart glasses and biometric

California Education Data Breach Exposes Millions of Records
October 21, 2026

While financial identifiers like Social Security numbers remained secure, the theft of English-learner status and Section 504 designations has created a new category of privacy risk. This historic data security failure involving the California Department of Education and the Educational Testing Service represents an unprecedented exposure of student information in the mid-2020s. The breach has compromised the personal details of

Busan Police Arrest 101 in Major Global Phishing Bust
October 21, 2026

Chinese nationals orchestrated a large-scale smuggling ring that brought hundreds of illegal telecommunications devices into the country under the guise of hardware components. These sophisticated “relay machines” were designed to intercept international voice-over-IP signals and re-broadcast them as local South Korean mobile numbers, specifically those utilizing the “010” prefix. By weaponizing this technology, the criminal syndicate managed to bypass the

How Can Fake Google Meet Sites Bypass Your 2FA Security?
October 21, 2026

If a user suspects they have interacted with a fraudulent page, they must immediately terminate all active sessions and review their account for unauthorized device logins. The modern digital workplace relies heavily on the implicit trust we place in ubiquitous communication platforms, a psychological shortcut that sophisticated threat actors are now exploiting with surgical precision. By crafting a meticulous replica