Fort Worth-based Think Finance, a provider of analytics and technology services for lenders, said May 1 it is restructuring its business and will create a new company to manage its portfolio of consumer lending products.
The new independent company, called Elevate, will own Think Finance’s branded products, including RISE, Elastic and Sunny. Elevate will continue creating new consumer credit solutions while Think Finance will remain focused on providing analytics and technology services to third-party lenders.
Ken Rees, former CEO of Think Finance, will lead Elevate. Martin Wong, previously chief integrity officer of Think Finance, has been promoted to CEO of Think Finance. Elevate is privately held and is backed by Silicon Valley venture capital firms including Sequoia Capital and Technology Crossover Ventures.
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