PowerPay
PowerPay is a Philadelphia-based AI-powered embedded lending platform that provides point-of-sale consumer financing for home improvement and elective healthcare through a network of 15,000 contractors and providers across all 50 states.
- Company typePrivate
- Founded2018
- HeadquartersKing Of Prussia, United States
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What PowerPay does
PowerPay is an AI-powered embedded lending platform founded in 2018 by Mike Petrakis and headquartered in Wayne, Pennsylvania, that provides point-of-sale consumer financing through a network of approximately 15,000 contractors and healthcare providers across all 50 U.S. states. Its core products include home improvement financing (for kitchen, bath, roofing, HVAC, pool, and landscaping projects), patient financing for elective healthcare (dental, fertility, vision, audiology, medspa, and veterinary), and fast-closing HELOC products, with a recently launched PowerPay 360 interest-only structure. Underlying the offering is a proprietary AI-driven underwriting engine that analyzes thousands of data points beyond FICO scoring and delivers millisecond credit decisions embedded directly into provider workflows via APIs, QR codes, and concierge support.
The company operates a hybrid B2B2C and direct-to-consumer distribution model: providers enroll at no cost and integrate financing into their sales processes, while borrowers can also apply directly via the website, mobile apps, and loan calculator. Pricing uses unit-based APRs ranging from 1% to 35.99% on terms of 6 to 120 months, with a one-time $99 account activation fee and no prepayment penalties; PowerPay funds providers via ACH at point of sale while consumers pay over time.
PowerPay generates revenue through loan origination and transaction fees paid by partner banks, interest income on retained balance-sheet loans, and structuring and servicing fees from asset-backed securitizations. Capital partners include KeyBank (lead underwriter, warehouse lead, and bond placement agent), Synovus Bank, Nearwater Capital, and FinWise Bank, with cumulative committed facilities exceeding $1.26 billion across corporate bonds, warehouse lines, and the $500 million PWRP 2025-1 ABS issuance. The company reports zero charge-offs since inception and has expanded its product surface into credit cards, mortgages, and insurance products.
PowerPay firmographics
Firmographics- Name
- PowerPay
- Legal name
- PowerPay LLC
- Website
- https://getpowerpay.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- PowerPay is a Philadelphia-based AI-powered embedded lending platform that provides point-of-sale consumer financing for home improvement and elective healthcare through a network of 15,000 contractors and providers across all 50 states.
- Ownership category
- akta.pro rank
PowerPay industry classification
Industry- Product category
- Consumer Lending
- NAICS
- Credit Card Issuing (522210), Credit Unions (522130)
- SIC
- Personal Credit Institutions (6141), Finance Services (6199)
- akta.pro primary industry
- Affordable Housing / Down Payment Assistance (DPA) Mortgage Origination (FSALAAAM)
Keywords
Where PowerPay is headquartered
LocationHeadquarters
- HQ city
- King Of Prussia
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
PowerPay business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D
Revenue model
- Point-of-Sale Financing Origination: PowerPay originates consumer loans for home improvement and healthcare procedures at the point of sale. The platform connects borrowers with lending institution partners and earns origination/transaction fees. Loans are originated through the platform and serviced by PowerPay.
- Interest Income from Owned Loans: Following the ABS securitizations and warehouse facilities, PowerPay retains certain loans on its balance sheet and earns interest income. The company doubled revenues to $200 million, indicating significant interest/fee income from loan operations.
- Securitization and ABS Issuances: PowerPay packages loans into asset-backed securities (ABS), generating upfront structuring fees and ongoing servicing income. The company completed $500 million ABS (PWRP 2025-1) and previously $118.9 million inaugural securitization.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Home Improvement Financing - Variable rate loans |
| One time/ perpetual license | Pay-as-you-go | Account Activation Fee |
| Unit Pricing | Monthly | Patient Financing - Healthcare procedures |
| Unit Pricing | Monthly | HELOC / Home Equity Financing |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels8 records
PowerPay product offering
Product offeringCore offering
PowerPay operates an AI-powered digital lending platform that originates point-of-sale consumer loans for home improvement projects and elective healthcare procedures. The platform enrolls a nationwide network of contractors and healthcare providers who embed PowerPay financing at checkout, with real-time credit decisions, ACH-funded disbursement to providers, and installment repayment by consumers. PowerPay also services loans and securitizes portfolios through warehouse facilities and asset-backed securities.
Product overview
PowerPay is an AI-powered embedded finance platform offering point-of-sale consumer financing across two primary verticals: home improvement and patient healthcare financing. The core platform consists of financing products (Home Improvement Financing, Patient Financing, and HELOC/Home Equity Financing), provider-facing platforms (Contractor Platform and Healthcare Provider Platform), and borrower-facing portals. Supporting tools include the PowerPay 360 interest-only product, Contractor Concierge Program, Loan Calculator, and mobile applications. The platform connects borrowers, contractors, healthcare providers, and lending institutions in a unified ecosystem, delivering AI-driven underwriting for instant credit decisions at the point of sale.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- Zero loan charge-offs across $8+ billion in loans processed since 2018
- +4 more outcomes
Companies that use PowerPay
Customer profileNamed customers3 records
Segments5 records
Ideal customer profiles4 records
PowerPay technology and API
TechnologyAPI detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability3 records
Feature5 records
PowerPay partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered minor.
- KBRA (Kroll Bond Rating Agency)minorKBRA served as the rating agency for PowerPay's $500 million asset-backed securitization (PWRP 2025-1), providing credit ratings for the notes.
- Alex's Lemonade Stand FoundationminorPowerPay partnered with Alex's Lemonade Stand Foundation to support childhood cancer research and family programs across its nationwide network of over 12,000 contractors, merchants, and medical professionals. The collaboration includes a custom PowerPay donation page and encourages employee participation and community engagement.
- West Shore HomeminorWest Shore Home CFO Philip Brenckle joined PowerPay CEO Mike Petrakis in a Bloomberg Businessweek segment discussing housing affordability and embedded finance. The partnership represents a major home improvement company leveraging PowerPay's financing platform.
Scale indicators16 records
Recent moves6 records
Expansion highlights6 records
PowerPay competitors and assessment
Company assessmentDirect peers
- GreenSky: GreenSky (acquired by Goldman Sachs) was the leading point-of-sale financing platform for home improvement, directly competing with PowerPay in the contractor-financed home improvement lending vertical with similar B2B2C model and instant credit decisioning.
- CareCredit: CareCredit (a Synchrony Financial product) is the dominant patient financing platform for elective healthcare procedures including dental, vision, audiology, and veterinary care — directly overlapping PowerPay's healthcare provider network and POS financing model.
- LightStream: LightStream (a Truist Financial company) provides online unsecured consumer loans for home improvement, medical, and other major expenses, competing directly with PowerPay on near-prime consumer credit decisions and project-based lending.
- Upgrade: Upgrade is a digital consumer lender offering personal loans and home improvement financing with mobile-first UX and soft credit pulls, closely mirroring PowerPay's tech-forward, instant-decision consumer lending experience.
- PatientFi: PatientFi provides patient financing exclusively for elective medical and aesthetic procedures through healthcare provider partnerships, directly overlapping PowerPay's patient financing vertical in dental, fertility, medspa, and similar categories.
- HFS Financial: HFS Financial is a home improvement financing lender offering POS loans through a network of contractors, directly competing with PowerPay in the home improvement contractor financing space with similar B2B2C distribution.
Broad incumbents
- Synchrony Financial: Synchrony Financial is the largest US provider of private label credit cards and POS financing, including CareCredit for healthcare and major home improvement retailer programs, making it the dominant incumbent across PowerPay's primary verticals.
- Affirm: Affirm is a leading BNPL and embedded lending platform expanding aggressively into home improvement, healthcare, and merchant POS financing, competing for the same contractor and healthcare provider partnerships and consumer financing demand.
- SoFi: SoFi is a large direct-to-consumer digital lender offering personal loans for home improvement and debt consolidation, plus mortgages and HELOCs, competing with PowerPay's consumer-direct channel and overlapping on home equity products.
Emerging players
- LendingPoint: LendingPoint is an online lender specializing in personal loans for prime and near-prime consumers, including financing for home improvement and elective medical procedures, with similar AI-driven underwriting and POS partner integrations.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
PowerPay social profiles
Digital presencePowerPay compliance and trust
Trust signalCompliance1 record
PowerPay financial estimates
Financial estimateRevenue estimate
Valuation estimate
PowerPay leadership team
Management profileNumber of profiles
Profiles4 records
PowerPay funding detail
Funding detailFunding overview
Funding rounds2 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PowerPay M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PowerPay
What does PowerPay do?
PowerPay operates an AI-powered digital lending platform that originates point-of-sale consumer loans for home improvement projects and elective healthcare procedures. The platform enrolls a nationwide network of contractors and healthcare providers who embed PowerPay financing at checkout, with real-time credit decisions, ACH-funded disbursement to providers, and installment repayment by consumers. PowerPay also services loans and securitizes portfolios through warehouse facilities and asset-backed securities.
Is PowerPay a public or private company?
PowerPay is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was PowerPay founded?
PowerPay was founded in 2018. It employs 101 to 250 people.
Where is PowerPay based?
PowerPay is headquartered in King Of Prussia, United States, in the North America region.
How does PowerPay make money?
Three revenue lines are on record. Point-of-Sale Financing Origination is the primary driver. The others are interest Income from Owned Loans and securitization and ABS Issuances.
Who are PowerPay's main competitors?
Direct peers on record are GreenSky, CareCredit, LightStream, Upgrade, PatientFi and HFS Financial. Broad incumbents are Synchrony Financial, Affirm and SoFi. LendingPoint is listed as an emerging player.
Does PowerPay have an API?
Yes. PowerPay offers an API-friendly platform with open APIs that enable seamless integration for contractors and providers. The platform supports embedded forms, unique links, and QR codes for customer applications. Providers can integrate the financing application process directly into their sales flow. ACH funding is available for quick payment disbursement.
What industry is PowerPay in?
PowerPay's product category is Consumer Lending. Its primary akta.pro industry code is FSALAAAM, Affordable Housing / Down Payment Assistance (DPA) Mortgage Origination. Its NAICS code is 522210 and its SIC code is 6141.