LOS ANGELES, June 09, 2026 (GLOBE NEWSWIRE) -- Raven Capital (“Raven”), an alternative investment firm specializing in asset-based, non-sponsor private credit, today announced the successful arrangement of a $655 million refinancing for Elevate, a leading provider of innovative online credit solutions for underserved consumers in the United States.
The refinancing extends Raven Capital’s longstanding relationship with Elevate. The firm initially became involved with Elevate nearly a decade ago and has continued to support the company through its latest phase of growth and operational expansion. Hudson Cove Capital Management also participated in the financing.
This latest transaction further expands Raven Capital’s activity within specialty finance and broader asset-based finance markets, sectors that have attracted increasing institutional investor interest in recent years. It reflects Raven’s ability to originate, structure and execute large-scale credit opportunities in highly competitive markets traditionally dominated by significantly larger alternative asset managers.
“We are pleased to deepen our long-standing partnership with Elevate and its exceptional management team through this refinancing,” said Jeremy Tucker, Founding Member and Principal at Raven Capital. “We have worked closely with the company for many years and continue to view Elevate as a leader in the alternative financial services sector with a strong platform and deep experience serving its customers. This transaction highlights Raven Capital’s commitment to providing scaled, flexible capital solutions in complex asset-based finance markets.”
The transaction comes amid continued growth in the asset-based finance (“ABF”) market, which has become an increasingly important segment of private credit as borrowers seek flexible, non-bank capital solutions. Industry estimates project the global private ABF market could grow to approximately $9.2 trillion by 20291, driven by increased demand for specialized financing structures and the continued expansion of private credit markets.
“This facility reflects the strength of our long-standing partnership with Raven Capital and provides Elevate with the financial foundation to capitalize on the opportunities ahead,” said Jason Harvison, President and CEO of Elevate. “We are well positioned to expand access to credit for non-prime consumers, continue investing in our platform, and deliver disciplined, profitable growth. We appreciate Raven’s continued partnership and confidence in our business, team, and mission.”
About Raven Capital
Founded in 2008, Raven Capital is an alternative investment firm specializing in asset-based, non-sponsor private credit. Owned by Dimitri Cohen, Gary Sumers, Jeremy Tucker, and Chris Felice, the firm focuses on originating senior secured loans to middle market borrowers. Raven’s Music Strategy, which specializes in the acquisition and management of cash-flowing music IP, serves as a distinct complement to the firm’s core lending business. Over its history, Raven has built a scaled platform, deploying over $3 billion across its core lending strategy. Raven’s investors include public and private pension funds, endowments, foundations and other institutional investors. For more information, please visit www.ravencm.com.
About Elevate
Elevate Credit, Inc. provides innovative, tech-enabled online credit solutions that offer immediate relief to customers while empowering them to build brighter financial futures. Along with the banks we support, we serve as a trusted partner to underserved consumers with products designed to reward responsible financial behavior through features like lower interest rates, free financial training, and credit monitoring. For more information, please visit www.elevate.com.
CONTACTS:
Investor Relations
Kristina Oberg
kristina@ravencm.com
(845) 709-9797
Media Relations
Kelly McAndrew
Financial Profiles
KMcandrew@finprofiles.com
(203) 613-1552
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1 Asset-Based Finance: Private Credit Hidden in Plain Sight | KKR
