Marlette Funding, LLC, owner of the online consumer-lending platform Best Egg reported strong growth in 2017 and the first quarter of this year.
The company is based near Wilmington.
In 2017, the company experienced originations growth of 66 percent, reduced its customer acquisition costs, and ended the year with three straight quarters with net income. The privately held company did not reveal specifics on its finances.
Underpinning the strong performance in 2017 is a bigger investment in data and analytics which the company believes provides a significant competitive advantage.
It released the fourth generation of underwriting models and built a storage repository, containing more than 30 billion events.
As of the end of the first quarter of 2018 the company has sponsored five strongly subscribed securitizations that are sold to investors. The transactions totaled $1.7 billion.
“Our defining challenge is humanizing the digital experience for financial products and services,” said CEO Jeffrey Meiler. “To meet this challenge and provide an amazing customer experience, we have focused on building the business with big data, smart tools, better technologies, and sophisticated marketing. All of this enables us to make better decisions, and the overall performance is reflected in our rising customer satisfaction scores and our market success to date.”
The company noted two personnel moves in the past year. Sabrina Basht was promoted to Chief Strategy Officer and Mark Elbaum who joined the company as Chief Financial Officer, coming from Merrill Lynch, Bank of America’s Wealth Management business.
The copany also took note of its employee engagement score which ranks in the top 10 percent of thousands of companies across 90 countries using OfficeVibe, an online employee engagement platform and recent recognition by the American Banker as one of the Top Fintech Places to Work.
