Think Finance, a provider of financial products to the underbanked, said Thursday that it has received a $90 million credit facility from Victory Park Capital Advisors of Chicago to help it expand its offerings.
The Fort Worth, Texas, company's existing products include ThinkCash, a short-term loan of between $250 and $2,500, offered online.
Think Finance is beta testing its latest product, Elastic, a prepaid debit card that features an emergency line of credit. Savings and budgeting tools will be added to the card soon, it said.
Think Finance said it already has more than a million customers.
"Consumer response to our products has been tremendous," Ken Rees, Think Finance's chief executive, said in a press release.
The funding will help Think Finance expand and "provide millions of consumers with a better solution for their financial needs."
The privately held company was founded in 2001 and is backed by Sequoia Capital and Technology Crossover Ventures.
