Cision Distribution 888-776-0942 Ironclad Coffee comes in for a landing at RIC, Bookbinders owners open mac-and-cheese joint on Arthur Ashe Boulevard, UR-born snack company to roll out tweaked trail mix after capital raise, MLB-required upgrades to The Diamond could cost city $3.5M, 2023 Richmond BizSense - All Rights Reserved, Update your browser to view this website correctly. Hiring techs is the #1 problem HVAC companies are facing this year. So, if youve previously saved the payment URL, youll need to update your bookmark. No Hidden Fees. Since booking its first retail customer in November 2014, West Creek Financial has sold its services to 550 retail stores in 32 states. West Creek is a fast growing firm that specializes in point of sale finance for customers across the United States. It is very simple and clean, Cavaliere said. This is a lease-to-own product. 7 talking about this. Will there be any changes to my products or services? I pay by check. As Koalafi, we are here to help merchants to offer simple and convenient pay-over-time plans to nearly every consumer who walks in their door or visits their website. West Creek's desire to make a real difference in underserved financing touches everyone we work with from retailers and customers to employees and investors. As we hire salespeople and deploy them, they dont pay back immediately, Finnegan said. However if you forget, we will still accept checks made out to West Creek. Checks can be sent to the following addresses: Yes! US 100 101. PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. Here are some stats about them that may surprise you. Active, Closed, Last funding round type (e.g. PitchBooks comparison feature gives you a side-by-side look at key metrics for similar companies. Update my browser now. The tradeline will include our new name Koalafi. There will be no impact to your score. So, weve been working behind the scenes to ensure your transition will be as seamless as possible. With offices in 24 countries, Neuberger Berman's diverse team has over 2,300 professionals. Headquarters Glen Allen, Virginia. Our high approval rates lead to great customer experiences and maximum sales for our dealers. With the help of Koalafis advanced technology and analytics, delightful experiences, and world-class support, thousands of merchants nationwide have grown their businesses, and more of their customers can finally dream bigger. We focus on using big data and technology to optimize underwriting, enabling industry leading approval rates. Dealer Login; Customer Login; Payment. It was enough to open my eyes to say, Oh my gosh, this is an incredible business using technology to disrupt the status quo, he said. With a Lease Agreement with Ownership Option substantially similar to the agreement attached to the complaint as Exhibit A. As we look to the future, we are excited to build upon the strong foundation we set as West Creek to better serve more merchants and consumers as Koalafi. Other investments include construction tech company Katerra and health insurance startup Clover Health. West Creek Financial PO Box 5518 Glen Allen, VA 23058-5518, Customer Support Mon-Fri 8:00am-9:00pm Sat 8:00am-8:00pm 844.937.8275, West Creek Financial, Inc. 2023, all rights reserved. West Creek offers a more streamlined process with approvals that take only minutes, he said. For Ashley licensee, the Wellsville Group, the key was to shift from a traffic to a conversion-mindset. Luna Crypto; Crypto.com Coin; Crypto Crash; Crypto Prices; Mariner Finance (renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax). San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. Consumer buying habits are changing. Edit Lists Featuring This Company Section, Virginia Companies With Less Than $10M in Revenue (Top 10K), Virginia Companies With More Than 100 Employees, United States Finance Companies (Top 10K), Southern US Companies With More Than 50 Employees (Top 10K). West Creeks secret sauce as Muth puts it is a proprietary computer program that enables it to analyze large sets of financial data and approve more customers for lease-to-own deals, in a way that is more transparent for the buyer than the typical kinds of deals offered in the lease-to-own marketplace. See how they did it. It uses big data to maximize approval rates and technology to . Please subscribe to keep reading. West Creek Financial raises $10 million to further develop its lease-to-own financing for furniture and appliances (Jun-2017) Source: www . If approved online, simply bring your approved application, account number, and photo identification to the Metro Mattress nearest you. The firm ultimately put $2 million into West Creek, which Saunders said he looked at initially with some reservations because of its presence in the subprime lending realm. Youll notice our new name and refreshed brand on our website. Were excited to share that the Koalafi brand is now here and we have changed our name from West Creek Financial to Koalafi (sounds like qualify). Advisor Info. New regulations put forth by the DOE will increase the upfront cost of new HVAC units. www.moderntiredealer.com is using a security service for protection against online attacks. While the company does not reveal details about its computer algorithm, Muth said its decision-making methodology enables it to get approval rates exceeding 70 percent for lease-to-own deals that typically average about $1,000 in value. West Creek partners with over thousands of retailers nationwide to help customers in purchasing essential items, including furniture, mattresses, appliances, tires, and HVAC systems. We have pretty aggressive growth plans, and we are right on track for that now, said Boomer Muth, the companys co-founder and CEO. For more informaiton, head over to your profile. The company specializes in point-of-sale financing for furniture, mattresses, appliances, tires and heating, ventilation and air conditioning purchases, enabling consumers to obtain financing so that they are able to get the merchandise they want with affordable regular payments and simultaneously helps merchants and service suppliers to increase sales. Summit Action Fund (lead) Jun-2017* Early : 10M: Jul-2016* Debt : 25M: Investors . If you have a lease with West Creek you can send payments to PO Box 5518, Glen Allen, VA 23058. All rights reserved. Sector Financial, an affiliate of Credit Suisse, provided access to the Credit Suisse debt facility. www.moderntiredealer.com is using a security service for protection against online attacks. West Creek says it offers financing through more than 3,000 retailers in 44 states more than double the retail outlets it worked with a year ago. We are looking forward to converting our debt into equity and looking forward to being long-term shareholders, Saunders said. No, weve just outgrown our name. Our goal at West Creekhas always been to deliver superior products and excellent service that exceeds your expectations. They definitely offer a lot of value for our business, he said. The company has invested in eight companies thus far and deployed about 60 percent of its first fund. The Stanley family , A former Richmond pharmaceutical company executive has been arrested and accused of a pandemic-era insider trading scheme that allegedly nette, U.S. Customs has been delaying LL Floorings shipments of vinyl flooring from Vietnam, the Richmond-based company said in a filing with the Se. Mark Every (left) is COO and Boomer Muth is CEO of West Creek Financial, which is able to analyze large sets of financial data and approve more customers for lease-to-own deals. Applying online will save you time and allow you to shop for your new mattress set knowing your approved credit limit. We use the latest in technology and artificial intelligence to give our dealer partners an edge for more approvals and increased sales. . Website Exclusive Extreme Discount Specials. West Creek itself has hired 26 people so far and expects to have 70 employees on board by the end of 2017. Most importantly, we want customers to understand the terms of the deal they are entering into, Every said. Who do I make the check out to and where do I send the check? Continuing whats become an annual tradition, local startup West Creek Financial has capped off yet another big capital raise. Visit koalafi.com for more information. View contacts for Koalafi to access new leads and connect with decision-makers. A big selling point for us to our retail customers was (West Creek) were one of the least expensive with fees and repayment rates.. Finnegan founded West Creek Financial in 2014 with fellow Capital One alums Boomer Muth and Scott Barton. 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RICHMOND, Va., Feb. 15, 2021 /PRNewswire/ --West Creek, a fast-growing consumer financing provider, closed a new secured debt facility from Credit Suisse and a fund managed by Neuberger Berman. The Henrico-based company, which provides lease-to-own consumer financing for furniture, mattresses, appliances, tires and HVAC purchases, announced last week the completion of a $7 million haul of convertible debt led by Summit Action Fund, a venture capital firm in Goochland thats making its first investment in a local company. Will I have to change my automatic or ACH payments? In 2015, the company got $3 million in equity funding to support its operations, including hiring staff, as well as a $25 million secured credit facility, which West Creek is using to fund its leasing activities. If you want to see an evening movie at Movieland at Boulevard Square, soon youll have to be age 17 and over. Exciting new name. The lotus symbol in our new logo represents the growth we enable for both our merchant partners businesses and our customers financial journeys. Founded in 2014, West Creek is a point-of-sale financing fintech platform that leverages technology and machine learning to help consumers make life-essential purchases. So, its time for a fresh look and feel that reflect this growth and convey our vision for the future. Class includes class members whose transaction was within four years of the filing of the complaint. At its office in the Innsbrook Corporate Center in Henrico County, West Creek Financial is using cutting-edge tools of computing and old fashioned customer service to build a national business. If youre a dealer or retailer, please click here. Exciting new name. Chief Financial Officer Greg Owens and office manager Amye Bailey work at West Creeks office in the Innsbrook Corporate Center. Renew now by choosing a subscription below! The lead investor was Victory Park Capital, a Chicago-based investment firm focused on private middle-market debt and equity investments. You will not own the leased items unless you make all scheduled payments or prepay in accordance with the lease. West Creek Financial is a fast growing firm that specializes in point of sale finance for underserved customers. Were now serving customers and businesses nationwide with a wide variety of financing products and services. Its a technological edge, Finnegan said. He said about 30 percent of the businesss customers do lease-to-own financing. Country United States. Industry Finance. ALL MEMBERSHIPS RENEW AUTOMATICALLY. The Henrico-based company, which provides lease-to-own consumer financing for furniture, mattresses, appliances, tires and HVAC purchases, announced last week the completion of a $7 million haul of convertible debt led by Summit Action Fund, a venture capital firm in . available at over 15,000 in store and online business across the country. Please enable JavaScript on your browser and try again. West Creek Financial will anchor Lynx Venture's 70,000 square foot office building and will take approximately 34,000 square feet on the top three floors of the six-story office building. Will it impact my score. Saunders, 34, is the son of Paul Saunders, founder and CEO of Goochland-based investment firm James River Capital. As Koalafi, were going to keep those promises and deliver on new ones! After seven years and hundreds of thousands of satisfied customers, we want a name that reflects what we do besthelp more people get what they need when they need it. Now that the Koalafi brand is here, youll start to see our new name on all your invoicing, billing, and related documentsbut it wont affect your account. The addition of salespeople also will require new support staff, and Finnegan said the company expects its employee headcount firm-wide to hit 154 by years end. Michael Schwartz is the editor of Richmond BizSense, and covers banking, lawsuits, finance, M&A and golf. According to the complaint, the Agreement does not comply with New York law and is materially deficient and unlawful, both in terms of its substantive terms and its disclosures to consumers of their rights, among other things. Inv. The younger Saunders spent stints at Citigroup in New York and hedge fund Pleasant Lake Partners before launching Summit Action with several of the founders of Summit Series, a company that puts on business and technology conferences and speakers series. Koalafi is pronounced like qualify (or koala-fy) to reflect our commitment to help more people get the things they need. In which the purchase occurred at a vendors New York location or online where the vendor is incorporated or headquartered in New York. West Creek Financial EFTA Claims. Thursday, December 22 2022 Breaking News. To make matters worse, the laptop Daisley bought has had significant problems, including freezing and disconnecting from local networks. Muth estimates the U.S. lease-to-own marketplace at about $11 billion a year, with a handful of major competitors that offer financing including Progressive Leasing, Acceptance Now, and Simple Finance. Our rebrand coincides with the national expansion of our stand-alone financing solution which offers an array of Koalafis financing products to consumers with excellent to no credit through a single platform. Insider (Form 4) Ownership/Private Fund Data. The complaint says that a company called West Creek Financial then began debiting his bank account every two weeks. Ind. The complaint divides this class into two subclasses. West Creek Financial EFTA Claims, in New York, a consumer has filed a proposed class action lawsuit over deceptive and unfair rent-to-own agreements, claiming that West Creek Financial violated EFTA and state law.The lawsuit seeks a $500 fine per violation.In addition to the claims filed against West Creek Financial, the consumer may have rights under the . . However, the complaint for this class action says he found he was being charged $2,700, with money being subtracted from his bank account every two weeks without his permission. At Koalafi, we understand that some purchases just can't wait for "someday." If you have a loan, you can send payments to PO Box 4887, Glen Allen, VA 23058. banking history, length of employment, and verification of contact information. Financial Services Company size 201-500 employees Headquarters Glen Allen, VA Type Privately Held Specialties Payments, FinTech, Retail, Financing, eCommerce, Machine Learning, and Online. | Privacy Policy | Careers. My goal is not for us to become the biggest, but what I want to do is become big enough that everyone knows we are the best.. We chose the name Koalafi, pronounced as qualify, to reflect our commitment to help more people qualify for financing to get the things they need. Find out more at https://westcreekfin.com/hellokoalafi/ There was no activity on this page for some time. FIRST USE: 20200224. At Koalafi, we understand that some purchases just can't wait for "someday." The company, which provides lease-to-own financing for retailers, will fill just under 35,000 square feet, accounting for about half of The Current's available 70,000 square feet of office space. Aaron Rohrer (left) of Atlantic Bedding & Furniture on Mechanicsville Turnpike in eastern Henrico County, helps shopper Brian Salerno of New Kent County. A Netherlands-based company that specializes in automated horticulture is coming to Chesterfield County. Please subscribe to keep reading. Koalafi offers a single financing platform with pay-over-time products and services for every type of customer. Your subscription has expired. Qualifying consumers may be approved for up to $65,000 in loan funding or $7,500 in lease-to-own funding. The service requires full cookie support in order to view this website. However, the complaint claims that under New York state law, West Creek is required to keep the merchandise in working order, and to provide a substitute or loaner item if it cannot be repaired promptly. The raise brings West Creek Financials total capital raising activity to $50 million, including a $10 million equity raise in summer 2017 and $3.5 million in summer 2016. Get the full list, Youre viewing 3 of 4 board members. Customer Support Mon-Fri 8:00am-9:00pm Sat 8:00am-8:00pm 844.937.8275. Plus, who doesnt like koalas? If you want to see an evening movie at Movieland at Boulevard Square, soon youll have to be age 17 and over.