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

Can XRP, ETH, and ADA Break Through Current Resistance?
October 5, 2026

Technical indicators like the Relative Strength Index for XRP suggest a neutral state where the market is neither overextended nor exhausted to the downside. The early days of October have introduced a period of noticeable indecision across the digital asset landscape, characterized by prices fluctuating between established floors and ceilings without a clear directional breakout. This “wait-and-see” atmosphere is defined

Stripe Acquires Parafin to Expand Embedded Lending Services
October 5, 2026

Stripe is leveraging Parafin’s expertise in providing financial infrastructure for platforms like Mindbody to blur the lines between tech companies and traditional banks. This strategic acquisition represents a pivotal moment in the evolution of digital finance, as the payment giant moves to solidify its presence in the embedded lending sector. By absorbing Parafin, a powerhouse known for powering credit services

Courts Demand Higher Standards for Harassment Investigations
October 5, 2026

The historical assumption that an employer’s duty ends once a formal report is filed has been overturned by a new standard for sustained corporate accountability. As legal precedents shift throughout 2026, organizations are discovering that merely initiating an investigation is no longer a sufficient defense against claims of workplace misconduct or negligence. Judges are increasingly looking past the existence of

What Are the Next Market Moves for Bitcoin and Ethereum?
October 5, 2026

A significant 60% drop in trading volume suggests a period of exhaustion or cautious sentiment among digital asset market participants. This cooling off period indicates that the initial momentum from the mid-September rally has reached a temporary ceiling, leaving investors to wonder whether a deeper correction is imminent or if this is merely a healthy pause before the next leg

Apple Tightens macOS Security to Mitigate AI Agent Risks
October 5, 2026

The lack of a purpose-built permission model for AI has forced Apple to retrofit existing Full Disk Access controls to serve as a modern guardrail against data overreach. In the current landscape of 2026, the rapid proliferation of autonomous agents has outpaced the development of native security frameworks, leaving users vulnerable to intrusive data harvesting. These sophisticated agents operate with