PowerPay Announces $300 Million Partnership with Synovus Bank and Nearwater Capital
WAYNE, Pa., Aug. 12, 2025 /PRNewswire/ — PowerPay, a leading fintech platform providing consumers with home improvement and patient finance, today announced the addition of Synovus Bank, a Georgia-based financial institution with $62 billion in assets under management, to its committed warehouse lending syndicate. The Company is also pleased to share that Nearwater Capital, a leading New York-based provider of asset-based financing solutions, will be providing Risk Retention Financing to help support the Company’s securitization program. The addition of these two partners significantly expands PowerPay’s capital structure, enhancing the Company’s capacity to bolster the rapid growth of its lending program, which has become one of the largest integrated consumer finance platforms in the U.S.
PowerPay Makes History with one of the Largest Home Improvement ABS Deals
WAYNE, Pa., Oct. 16, 2025 /PRNewswire/ — PowerPay, a prominent financial technology platform specializing in point-of-sale consumer financing for the home improvement and patient finance sectors, today announced the upcoming issuance of its latest Asset-Backed Securitization (ABS). PowerPay Issuance Trust 2025-1 (PWRP 2025-1).
The transaction is targeted to be sized in the $500 million range, a monumental step that significantly surpasses the company’s inaugural securitization last year ($118.9 million for PWRP 2024-1). This half-billion-dollar issuance is expected to be one of the top five largest home improvement securitizations ever to enter the market. The deal is expected to close in October with KeyBank serving as the Lead Underwriter. KBRA (Kroll Bond Rating Agency) is the expected rating agency for the notes. The robust size and structure underscore the company’s explosive growth and the strong institutional confidence in the quality of the loans originated through PowerPay’s platform.
PowerPay’s Chloe Hazzard Named ‘Highly Commended’ Rising Star of the Year at 2025 US Fintech Awards
WAYNE, Pa. — Nov. 14, 2025 — Chloe Hazzard, Director of Audit at PowerPay, earned the “Highly Commended” Rising Star of the Year distinction at the 2025 US Fintech Awards.
Hazzard joined PowerPay as an undergraduate intern and rose through operational roles before taking leadership of the audit department. She built the function from the ground up during a period when PowerPay’s loan volume quadrupled, establishing processes and controls that enabled the company to secure a $500 million warehouse facility, complete multiple investment-grade bond offerings, and build a securitization platform targeting $1-2 billion in annual volume.