Covered Holdings, a buy-now, pay-here financing platform for people typically declined traditional credit, has closed follow-on investments from affiliates of Fortress Investment Group LLC and Westlake Financial. The new $8 million combined investment is on top of $200 million in existing lending facilities from the two firms.
“The demand for better financing options, especially in healthcare, has never been stronger and we’re currently installing our solution in hundreds of new locations each month,” said Ken Rees, founder, and CEO of Covered Holdings. “This new investment will support the rapid scaling of our business as we diversify our platform and expand into new verticals.”
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