Encina Lender Finance and Brigade Capital Management Partner with DigniFi to Enhance Financial Access for Vehicle Repairs.

July 09, 2024 08:47 AM Eastern Daylight Time

SEATTLE–(BUSINESS WIRE)–DigniFi, a leading FinTech company specializing in automobile repair financing, is thrilled to announce the addition of two new strategic funding partners on May 14, 2024. Encina Lender Finance provides up to a $150 million credit facility while Brigade Capital Management contributes an additional $25 million in debt financing.

“Brigade is pleased to build on our existing relationship with DigniFi and support the Company’s efforts to expand inclusive financing to consumers”

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“DigniFi is grateful for the increased commitment from Brigade Capital and the recently closed warehouse facility with Encina Lender Finance. We look forward to both organizations being strategic partners to DigniFi,” said Neeraj Mehta, CEO of DigniFi.

DigniFi has built its reputation by offering access to innovative financing solutions for vehicle repair and maintenance services. Through its proprietary platform, DigniFi empowers customers with convenient finance options, funded by WebBank, for their vehicle repairs, ensuring that unexpected expenses do not hinder their mobility.

“Encina Lender Finance is proud to partner with DigniFi and Brigade. Neeraj and his team, with their depth of experience and tremendous track record, are well-positioned to continue to scale their business and drive growth for their merchant partners,” said Ed Chang, Co-CEO of Encina Lender Finance.

“Brigade is pleased to build on our existing relationship with DigniFi and support the Company’s efforts to expand inclusive financing to consumers,” said Steven Bleier, Portfolio Manager and Head of Structured Credit at Brigade.

About DigniFi

DigniFi is a FinTech company and leader in the world of transportation. We help auto dealers and small businesses across the country grow their revenue and delight their customers with access to visionary, inclusive financing. Our technology simplifies the loan application process and enables small businesses to offer on-the-spot financing, for auto repairs, parts and accessory purchases, maintenance packages, insurance deductibles, and vehicle service contracts. All credit products are originated by WebBank. To date, DigniFi has helped over 2,200 small businesses across the nation secure almost $445 million in incrementation transactions. For more information, please visit DigniFi.com.

About Encina Lender Finance

Operating from both coasts, ELF offers revolving lines of credit, delayed draw term loans, and forward flow purchase programs ranging in size from $50 – $150 million to emerging and established specialty finance companies with strong junior capital sponsorship across a wide range of short-to-intermediate duration asset classes in the consumer and commercial finance sectors. Targeted consumer asset classes include unsecured installment and revolving loans (direct-to-consumer and point-of-sale), secured vehicle finance, home improvement, and student lending (in-school vocational, refi). Targeted commercial asset classes include asset-based lending, factoring, equipment finance, floorplan finance, CRE bridge lending, enterprise value lending, and small balance SMB lending (both direct-to-business and embedded point-of- sale). In addition, ELF provides streamlined “first-out” financing to other like-minded private credit investors in the specialty finance sector. ELF utilizes a combination of cutting-edge technologies and rigorous collateral-level analysis to generate differentiated investment insights and to formulate creative solutions to its counterparties’ portfolio and enterprise financing needs. For additional information, please visit ELF’s website at: https://lenderfinance.encinacapital.com/.

About Brigade Capital Management

Brigade Capital Management, LP (“Brigade“) is a global asset management firm founded in 2006 with approximately over $26 billion in assets under management. Brigade invests in public and private credit instruments using a bottoms-up investment philosophy across a variety of diversified funds. As an SEC registered investment advisor, Brigade is one of the largest independent alternative asset managers with a 45-person investment team. Founded by Donald E. Morgan III, CIO and Managing Partner, the firm is headquartered in New York with a global footprint that includes an office in London.