Credibly completed the acquisition of ProApprove from Castlelake for $350m.

Credibly, a fintech lending platform, completed the acquisition of ProApprove, a finance company offering home improvement financing solutions, from Castlelake, a private investment firm, for $350m. “Through conversations with contractors who obtain financing from Credibly, we identified a significant market opportunity in the home improvement space. We believe our agreement with Castlelake will accelerate our expansion efforts by providing contractors with confidence that they can offer flexible financing solutions to all of their customers. Contractors who offer financing solutions through ProApprove will no longer need to turn down sales due to a homeowner’s inability to pay for a project upfront, helping those contractors grow their book of business,” Ryan Rosett, Credibly Co-Founder and Co-CEO.