Online lending and financial services startup Applied Data Finance (ADF) has now closed on a $145 million round of funding from several investors to widen its financial service ecosystem.

This round which came in form of both equity and debt is earmarked towards ADF’s growth and expansion to more individuals with its Personify Financial platform.

ADF has now raised over $275 million since its inception 4 years ago with over $100 million in loans made so far and 180 employees across U.S. and India.

“Since we founded ADF, we’ve employed an unrelenting focus on careful testing and risk management. We view this successful fundraising as a validation of that approach, and we are now poised to accelerate the growth of our business,” said Krishna Gopinathan, Co-Founder and Chief Executive Officer at ADF.

ADF stands as a financial partner for thousands of consumers and combined with innovative data science and machine learning is keen towards providing its customers with several lending and credit services.

“ADF combined talent with a history of innovation in the industry with financial, technological and capital markets acumen to bring a new lending model to the market. We believe ADF has great opportunities for growth,” said Rick Buoncore, Managing Partner of MAI (An investor in this round). “The number of Americans without a financial cushion is stunning. With no access to the traditional banking and credit system, ADF’s innovative and responsible approach to lending is a welcome relief to these individuals.”

“Our team has worked with consumer lenders for over a decade. Looking back, the product ADF has already developed is exceptional. Looking forward, we see enormous growth potential as ADF expands on its current markets and product offerings,” said Alex Dunev, Managing Partner of PCAM (Another Investor).

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