eOriginal Secures $26.5MM Investment From LLR Partners
NOV 15, 2016 - 6:41 am
eOriginal, a digital transaction management company, secured a $26.5 million investment led by private equity firm LLR Partners.
eOriginal’s eAsset Management Platform enables customers to manage the entire lifecycle of a digital transaction in a fully electronic environment. The company provides services to a number of end markets, including marketplace lending, vehicle and equipment finance and banking.
The capital from this investment will be used to accelerate hiring, enhance product development and infrastructure to enable eOriginal to extend its digital transaction management leadership position into additional end markets such as digital mortgage.
“The lending and financing process is undergoing a digital evolution, with eOriginal as the trailblazer enabling advanced, secure digital transaction management. With a market-established, best-in-breed product offering and strong leadership, the company is poised for accelerated growth,” said David Reuter, partner at LLR Partners, who will join eOriginal’s board of directors. “We are excited to join forces with eOriginal as they drive increased confidence and efficiency throughout the entire lending process.”
“Finding the right partner was a key element to the future and growth of eOriginal,” said Gary Wood, executive chairman of eOriginal. “In addition to capital, LLR is known for contributing the intellect and experience of their team to help grow great businesses.”
By 2023, Citi estimates that 17% of all North American loan originations will be enabled via new digital models, a dramatic increase from the approximate 1% today.
“Growing acceptance and demand for digital transaction management and post-signature asset management is driving accelerated growth among traditional and alternative lenders,” said Stephen Bisbee, president and CEO of eOriginal. “The world is migrating to fully digital processes and eOriginal has proven itself to many enterprises, small and large, as a trusted partner and platform. LLR Partners’ FinTech experience will help scale our products to meet industry demands and support the fully digital ecosystems of the future.”
Founded in 1996, eOriginal specializes in the post-execution management of financial asset documentation.
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