Nexera Holding Announces Investment from Warburg Pincus
EMERYVILLE, Calif. and NEW YORK, Jan. 26, 2017 /PRNewswire/ — Nexera Holding LLC dba Newfi Lending (“Newfi Lending”), a technology-enabled residential mortgage lender, today announced that funds affiliated with Warburg Pincus, a global private equity firm focused on growth investing, have agreed to make a significant growth investment in the company. The investment will be used to further advance Newfi Lending’s technology platform and accelerate its expansion plans. Terms of the transaction were not disclosed.
Founded in 2014 by Steve Abreu and a team of industry veterans, Newfi Lending is focused on building business channels that combine proprietary technology, an efficient operating model, and a personal touch to reshape the way customers shop for and close a mortgage. Nexera operates under two national brands: Newfi for consumer-direct business and Newfi Wholesale for third-party origination. Newfi is a 5-star rated lender that simplifies borrowing and reduces costs through its secure and streamlined mortgage lending technology. Newfi Wholesale is focused on providing its broker partners with consistently low pricing and a growing range of innovative lending products.
“We are proud to have Warburg Pincus behind our effort to build a premier lending platform that will uniquely drive diverse mortgage products across multiple business channels,” said Newfi Lending CEO Steve Abreu. “Our focus has been to transform the mortgage process while driving operating discipline and profitability. With this investment, we now have the backing to scale those fundamentals nationally.”
“Steve and the team at Newfi Lending are disrupting the traditional mortgage market by building a next-generation origination platform that simplifies the mortgage process end-to-end for customers, providing lower costs and faster processing,” said Eric Friedman, Principal, Warburg Pincus. “We are pleased to partner with Newfi Lending’s management team and leverage their deep industry experience to build an innovative mortgage business of scale.”
About Nexera Holding LLC dba Newfi Lending
Newfi Lending is a multi-channel lender that is setting the standard for efficiency, transparency, and service in the mortgage marketplace. Founded by industry veterans, Nexera is committed to innovation in lending products for both consumers and mortgage brokers under the Newfi and Newfi Wholesale brands. For more information, visit www.newfilending.com. To learn more about Newfi and explore rates, visit www.newfi.com. To learn more about Newfi Wholesale, visit www.newfiwholesale.com.
About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $40 billion in private equity assets under management. The firm’s active portfolio of more than 130 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 16 private equity funds, which have invested more than $58 billion in over 760 companies in more than 40 countries. For more information please visit www.warburgpincus.com.
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