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Prudential invests $10M in fintech that provides affordable loans

Jun. 25, 2019 7:50 AM ETPrudential Financial, Inc. (PRU) StockPRUBy: Liz Kiesche, SA News Editor1 Comment
  • Prudential Financial (NYSE:PRU) invests $10M in Aura, a fintech company that offers affordable loans to borrowers with low or no credit.
  •  Its technology goes beyond the credit score to determine borrowers’ ability to repay and enables local businesses to administer credit applications.
  • Two-thirds of Aura’s borrowers have increased their credit score by an average of 285 points from their first to second loan.
  • Prudential's investment will help Aura to scale and help the company to provide more affordable loans to more borrowers.
  • To date, Aura has raised $100M in equity funding.

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