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Lend Street Financial, Inc.

Lending platform that helps distressed debtors restructure debt and enable investors to buy the debt from the creditors at a discount.

  • Stage Prototype Ready
  • Industry Financial Services
  • Location Charlottesville, VA, USA
  • Currency USD
  • Founded January 2010
  • Employees 5
  • Website lendstreet.com

Company Summary

LendStreet combines credit counseling and distressed debt buying in a lending platform to help distressed debtors restructure and refinance existing debt into a low interest loan. However, borrowers do not receive cash – instead, the money goes to directly pay the existing creditors, at an agreed upon discount. The discount is shared with the debtor in the form of lower debt, lower interest rate, and monetary incentives for financial literacy.

Team

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    Robert Stone
    Credit Consultant

    Robert has more than 23 years of experience in financial services, including consumer lending. He brings deep expertise and a highly customized and impact-driven approach using the right combination of data and analytical tools. Prior to joining Experian, he held various leadership positions at Bank of America; Citigroup; HSBC; Credit One Bank; and Fair, Isaac and Company. He has worked across all risk spectrums, from super prime to subprime.

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    R. Jerry Nemorin
    Founder & CEO

    Jerry previously worked at Bank of America Merrill Lynch in the Financial Sponsors Group where he helped raise over $2.5 billion for clients in various industries. While at BAML, he was rated amongst the top of his class and selected as one of six Associates globally to lead training for the incoming Investment Banking Analyst group. He began his career in Tyco's Treasury group and earned his B.S. in finance from Univ of FL and MBA at Univ of VA.

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    Tom Coombs
    VP, Product Development

    Tom has more than 15 years experience in designing UI/UX for users across various web platforms, devices, and industries. He began his career at Goldman Sachs designing proprietary software and worked at Xerox and Opodo. Tom founded a consultancy firm, Man Woman and Child. Major projects have included redesign of Nokia.com and UI for Avaya Flare, Avaya’s flagship touchscreen desk phone. He earned a B.S. at Oxford U and a M.S. from Loughborough U.

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    Richard Munroe
    Business Development & Operations Consultant

    Rich is the Co-Founder of CFG, a buyer and seller of consumer debt that also provides scoring analysis, legal modeling, acquisition, and selling services to various issuers and debt buyers. He has over 20 years of experience in the distressed debt industry and has been involved in the acquisition of >$10 billion in debt portfolios. He currently serves on the Board of Debt Buyers Association as Vice Pres. and chair of State Legislative committee.

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    Michael Snyder
    Chairman

    Mike was CEO and Director of Vonage where he led the efforts for its successful IPO. Mr. Snyder began his career at ADT Security, a Tyco subsidiary, which spanned 30 years. Starting as a sales representative, he held several management positions, culminating in the role of President and COO for North America in 1997. During his tenure, Mike grew revenues more than 6-fold along with industry-leading levels of free cash flow and operating income.

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    KG Charles-Harris
    Director

    KG is a prominent international entrepreneur and spirited advocate for improving the way people work and connect through technology. Before EMANIO, he co-founded GenoMar, a genomics company focused on aquaculture and food safety. Prior to that, he worked as a technology investment banker with companies like NOKA Securities (Scandinavia) and Nesta Advisors & Capital. KG was awarded the United Nations Global Young Entrepreneur Award in 2000.

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    Scott Barton
    Advisor

    Scott is the CEO of 2nd Order Solutions, an advisory and consumer credit risk management firm that provide proprietary insights with best-in-class analytics to banks, collection agencies, loan servicers, and debt buyers to help reduce credit losses in their portfolios. Scott worked as CEO of Axiant and SVP of Risk Operations at Capital One, where he led the Collections, Recovery and Fraud department. He earned his B.S. at Duke and MBA at Tuck.

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    Colin Steele
    Advisor

    Colin has worked in IT, management and entrepreneurial environments. He wrote AOL's first Internet gateway. He started a business intelligence company and since has been programmer, CTO and board member on several companies. He led the team that launched Room Key's website, a highly scalable system based on a cutting-edge technology stack that has scaled from zero to 9 million unique hits a month over a six month period with 100% uptime.

Previous Investors

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    Byron Nimocks - Managing Director, First Manhattan Corporation
    Unconfirmed
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    Darden Graduate School of Business Incubator
    Unconfirmed