ATLANTA--(BUSINESS WIRE)--Momnt, a leading fintech company specializing in real-time lending and payment solutions, today announces the appointment of Chris Bracken as CEO. This follows recent significant capital investments from Saluda Grade Ventures, Rockefeller Asset Management, and TruStage Ventures and solidifies the company’s position as a leader in the Home Improvement and Healthcare lending space.
In addition to Bracken being named CEO, current CEO and Co-Founder Barclay Keith has been appointed Special Advisor to the Board, where he will continue to provide insight and guidance to the Board and Company, taking the lead on special projects.
Bracken formerly served as Momnt’s Chief Revenue Officer and brings significant consumer lending experience and will help Momnt capitalize on recent disruptions in the moment-of-need lending industry. Along with co-founders and executives Brian Lanehart and Lena McDearmid, who bring significant technical and operational expertise, Momnt will continue its growth by leveraging its unmatched embedded lending solution to provide low-friction, affordable financing at the moment of need.
“Momnt is leading the way in the moment-of-need financial services space, and I am honored to continue the work our leadership team and employees have done to establish Momnt as a trusted partner for so many home improvement contractors, healthcare professionals, lenders, and capital providers,” said Bracken. “Looking ahead, our team is primed to continue serving our partners and customers as well as strengthen our technology along the way.”
The Momnt platform is built to support today’s merchants, consumers, and banks through a suite of turnkey solutions, such as:
- Flexible staged funding: meets contractors’ cash flow and project needs
- Fast payments: funds released to merchants quickly with Same-Day and Next-Day ACH
- Closed-loop financing: ensures payments to merchants and providers
- Soft pull of credit: ensures consumers can shop loan offers without impacting their credit
- User-friendly: The mobile-first 100% digital platform makes applying, transacting, and making payments incredibly simple
- Embedded security, compliance, and KYC
“Chris’s deep understanding of the consumer lending landscape and proven track record in driving growth make him an invaluable partner,” said Lena McDearmid, Co-Founder and COO. “Together with Brian Lanehart and our talented team, I am confident that we will continue to set new standards in the embedded lending space and deliver exceptional value to our customers and partners.”
“Saluda Grade is excited to see Chris Bracken guide Momnt through the next stage of its growth,” said John Stepp, Head of Ventures at Saluda Grade. “We believe Chris brings exceptional experience and the right vision for the future of the business, giving us confidence that the company is well-positioned to capture the tremendous opportunity we see in home improvement spending and point-of-sale finance. We thank Barclay Keith for his remarkable entrepreneurial efforts in building Momnt, and we look forward to leveraging his deep insights across the business going forward.”
About Momnt
Momnt is a state-of-the-art financial services technology platform that revolutionizes how merchants offer financing. Through Momnt’s embedded lending solution, businesses can effortlessly provide customers with simple, fast, and affordable financing options, all delivered through a seamless process. Momnt drives growth for merchants, extends personalized financing to consumers, and generates new revenue sources for financial institutions. Visit momnt.com to learn more.
About Saluda Grade
Saluda Grade is an alternative asset manager focused on opportunities in asset backed finance, real estate debt and equity, and hard asset sectors. Headquartered in New York City, the Firm was founded in 2019. See saludagrade.com for additional information.
Disclaimer:
This press release is for informational purposes only. It is neither an offer to sell nor the solicitation of an offer to any for any other securities, and shall not constitute an offer, solicitation, or sale. Any offers will be made only by means of a private offering memorandum.
Forward-looking statements:
Statements in this press release have “forward-looking statements” and are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed in such forward-looking statements.
