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 Payroll Strategy Drive Better Employee Retention?
October 2, 2026

While many leadership teams prioritize high-impact marketing campaigns or complex product roadmaps, they frequently overlook the most consistent and direct channel of communication they have with their workforce: the pay cycle. This recurring interaction is more than a simple exchange of funds; it is a foundational touchpoint that either reinforces or erodes the relationship between an organization and its people.

Trend Analysis: AI-RAN and Agentic Telecommunications
October 2, 2026

The global telecommunications sector is currently dismantling the traditional architecture of human-centric connectivity to build a foundation for a machine-first intelligence network that redefines how data is generated and consumed. This transition signifies a profound movement away from the historical focus on smartphone-driven traffic toward a more complex, autonomous ecosystem known as the Radio Access Network powered by Artificial Intelligence

Microsoft Invests $10 Billion in Gulf Cloud and AI Expansion
October 2, 2026

Across the vast, sun-drenched horizons of the Arabian Peninsula, a transformation is taking place that has far less to do with the traditional extraction of fossil fuels and far more to do with the rapid deployment of massive silicon-based intelligence. This monumental shift is evidenced by Microsoft’s recent commitment to inject $10 billion into the digital infrastructure of the Gulf,

New Spectre-v2 Variant Bypasses Defenses to Leak Linux Memory
October 2, 2026

Dominic Jainy stands at the forefront of hardware security, where the abstract world of high-level code meets the cold, physical reality of silicon architecture. With a career dedicated to unraveling the complexities of artificial intelligence and blockchain, Jainy has recently turned his focus toward the microscopic vulnerabilities inherent in modern processors. As the industry grapples with the fallout of the

Balancing Speed and Ethics in AI-Driven Recruitment
October 2, 2026

The sheer velocity at which modern resumes flood corporate databases has transformed the simple act of hiring into a high-stakes race where human capacity often fails to meet the relentless demands of the 2026 job market. This acceleration has forced a dramatic confrontation between the operational necessity of speed and the ethical requirement for fairness. In this environment, artificial intelligence