Service Finance Co. Announces New Partnership
Will provide additional resources to accelerate growth
BOCA RATON, Fla. — Service Finance Co. (SFC), a service provider that originates, underwrites, and services financing for the purchase of HVAC, solar, insulation, and more, announced that it has closed a significant minority equity investment from Flexpoint Ford LLC, a private equity firm. SFC said the partnership will provide it with additional resources to accelerate growth. The firm will continue to operate as an independent company under its current management team and president, Mark Berch.
As a nationally licensed sales finance company and third-party servicer authorized to conduct business in all 50 states and the District of Columbia, SFC has developed a technology-enabled platform that allows contractors to offer financing solutions to consumers as part of their in-home sales process. Over its 10 year history, SFC said it has developed industry partnerships that enable it to offer qualified borrowers a broad-based set of financing products through its expanding national network of contractors.
“Our continued investment in technology, including our mobile app, and customer service delivers value to our industry partners, contractors, and financing customers,” said Berch. “We are very excited to partner with Flexpoint Ford, and we believe their financial services expertise and industry relationships will help SFC accelerate its rapid growth trajectory.”
Steven Begleiter, managing director of Flexpoint Ford, said, “For many years, Flexpoint Ford has been researching the point-of-sale consumer finance sector. Throughout its history, SFC’s management team has brought together the elements necessary to capitalize on the market demand for financing energy efficient home improvements. We are thrilled to become an integral part of SFC’s development.”
Daniel Edelman, principal of Flexpoint Ford, said, “We believe that data and technology now provide underwriting and customer acquisition efficiencies that will accelerate the shift of credit origination away from banks towards specialists like SFC. We look forward to supporting the company’s management team as it continues to grow market share, form new industry partnerships, and serve its existing contractor base.”
For more information about Service Finance Co., visit www.svcfin.com.
For more information about Flexpoint Ford, visit www.flexpointford.com.
Publication date: 11/25/2015