JG Wentworth / Stilt 2022
JG Wentworth acquired Stilt on December 5, 2022.
- Target
- Stilt
- Acquirer
- JG Wentworth
- Announced
- December 5, 2022
- Sub-sector
- Lending
Transaction overview
- JG Wentworth announced the acquisition of Stilt on December 5, 2022.
- The deal is expected to close pending customary conditions.
Strategic rationale
Accelerate entry into consumer lending by combining JG Wentworth's brand and call center with Stilt's digital platform, data assets, and loan origination technology.
Deal terms & multiples
About Stilt
Stilt is a San Francisco-based fintech lender focused on consumers who lack access to traditional credit, including immigrants, international students, DACA recipients, and visa holders. The company was founded by immigrants on visas and has extended loans to borrowers from more than 150 countries. Stilt raised $322 million in debt and equity to build its digital lending and servicing platform. Its proprietary dataset covers more than $5 billion in loan applications and over 2.5 million bank transactions.
- Prior funding
- $322 million in debt and equity
- Key metric
- Over $5 billion in loan applications in Stilt's proprietary dataset.
About JG Wentworth
JG Wentworth is a consumer financial services company headquartered in Chesterbrook, Pennsylvania, founded in 1991. The company employs more than 550 people across the United States. Its product lines include structured settlement payment purchasing, annuity payment purchasing, lottery and casino payment purchasing, and debt resolution services. JG Wentworth also maintains an office in Silicon Valley.
- Founded
- 1991
Frequently asked questions
When did JG Wentworth announce the acquisition of Stilt?
JG Wentworth announced the acquisition of Stilt on December 5, 2022.
What sub-sector is Stilt in?
Stilt is tracked in the Lending sub-sector.
Sources
- tmcnet.com /usubmit/2022/12/05/9724375.htm