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We’re in the thick of Q4, and the number of money moves is slowing down as the holidays approach.
What is happening, though, are moves that represent the Delaware market’s commitments, from supporting high school students to preserving farmland and helping “high-risk” people secure loans.
Plus, a new outdoor casino, an accounting acquisition and multifamily real estate investments.
Read on for details on those transactions, plus other money moves, after the chart showing which companies are hiring in Delaware this month.
Best Egg lands a $500M purchase commitment
North Wilmington-based fintech company Best Egg recently announced that it secured a $500 million loan purchase commitment from investment companies Fortress Investment Group LLC and Edge Focus. The purchase is intended to foster the growth of Best Egg’s personal loan product, which is expanding efforts to lend to traditionally high-risk borrowers with limited savings.
“The purchase commitment we’ve secured from Fortress and Edge Focus will allow us to serve more American borrowers,” Andrew Deringer, chief financial officer of Best Egg said in a press release. “We remain committed to providing flexible and accessible capital to borrowers, and this partnership expands our capacity.”
Since 2014, when the company launched as Marlette Funding, Best Egg has lent more than $30 billion in personal loans via its online application process. The company, whose headquarters anchors Concord Plaza, is an Inc. 5000 company that saw 115% growth in 2023.
More money moves:
- Longwood Foundation will invest $60 million in Wilmington high school students.
- Pennsylvania CPA advisory firm Herbein and Company Inc. acquired the Wilmington-based Bumpers & Company, a full-service accounting and advisory firm.
- Sussex County purchased 165 acres of farmland near Dagsboro for $2.6 million to preserve for future agricultural use as housing development in the county skyrockets.
- Wilmington-based Corten Real Estate, cofounded by Buccini Pollin Group leadership, has raised a $283M fund for multifamily real estate investments
- Delaware Park adds a $5 million year-round open-air casino to its recent expansion investments.
Disclosure: Longwood Foundation has provided philanthropic support to Technical.ly. That relationship had no bearing on this report.
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