What Dext Capital does

Dext Capital is a privately held, technology-enabled direct equipment lender founded in 2018 and headquartered in Lake Oswego, Oregon. The company specializes in equipment financing for healthcare providers (hospitals, medical practices, med spas, and aesthetic practices) and technology vendors (OEMs, distributors, resellers), with transaction sizes ranging from $10,000 to $20 million and terms up to 120 months across capital leases, operating leases, equipment finance agreements, and loans.

Dext Capital's core technology is DART (Dext Access Real Time), a patent-pending mobile-first web application that enables partners and customers to enter, underwrite, and document deals 24/7. DART incorporates proprietary machine learning models trained on a dataset of over 10,000 historical underwritten deals to enable automated credit decisioning on application-only transactions up to $250,000, with a DocuSign integration (AutoDocs) for immediate document transmission. The company is also exploring large language models for legal document evaluation and agentic AI for customer service.

Dext makes money through transaction-based revenue on equipment financing and through recurring securitization, with six completed ABS securitizations and over $1 billion in securitized assets. Distribution runs through seven distinct sales channels — Client Solutions (direct), Vendor Finance, Third Party Originations, Capital Markets, Technology Vendor, Wellness (aesthetic/medical laser), and Wheels (transportation/vocational) — supplemented by the self-serve DART portal. The company is backed by Sightway Capital, a Two Sigma company, and holds approximately $500 million in bank facilities (including a $200 million Deutsche Bank facility closed in October 2024) and nearly $1 billion in expansion capital access. Dext Capital has surpassed $2 billion in cumulative originations, serves 12,000+ customers, and is ranked the 17th largest independent leasing company in the United States.

Name

Dext Capital

Legal name

Dext Capital, LLC

Website

https://dextcapital.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

51–100 employees

Short description

Dext Capital is a privately held, technology-enabled direct lender founded in 2018 that provides equipment financing to healthcare providers, technology vendors, and adjacent verticals across the United States through its patent-pending DART lending platform with ML-powered auto-decisioning.

Ownership category

akta.pro rank

Headquarters

HQ city

Lake Oswego

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Others

Revenue model

1. Equipment Finance Agreements (EFA): Primary revenue stream from equipment financing for healthcare providers and vendors. Provides capital leases, equipment finance agreements, and loans for equipment acquisition with terms up to 120 months. Revenue generated through interest payments and fees on financed equipment.
2. Vendor Finance Programs: Revenue from vendor partnership programs including standard referral programs, private label programs, managed services programs, and co-branded programs. Vendors receive same-day funding up to $5,000,000 and same-day approvals up to $500K.
3. Capital Markets Services: Debt only and single investor financing structures for middle-market bankable and non-bankable credits. Works with banks, independent finance companies, captive finance companies, and select brokers through formalized Master Assignment Agreement programs. Provides portfolio acquisition financing (small, mid and large ticket).
4. Asset Securitization: Dext Capital generates revenue through securitization transactions. The company has closed multiple ABS transactions, surpassing $1 billion in securitized assets and $2 billion in total originations. Recurring securitization revenue from recurring transaction structures.
5. Working Capital Loans: Working capital loans offered to healthcare providers as part of comprehensive financing solutions. Started offering working capital loans in 2021.
6. Technology Refresh Rentals and As-a-Service Finance: Usage-based financing models for technology including pass-through service/consumable bundles. Supports technology vendors in providing flexible payment options based on equipment usage.

Pricing tiers

Go-to-market motion7 records

Distribution channels8 records

Marketing channels6 records

Core offering

Dext Capital is a direct equipment finance company that provides capital leases, equipment finance agreements, operating leases, loans, and working capital financing to healthcare providers, equipment vendors, technology suppliers, and third-party originators across the United States. Deal sizes range from $10,000 to over $20 million with terms up to 120 months, delivered through multiple sales channels including direct sales, vendor finance programs, third-party originations, and capital markets. The company operates its proprietary DART digital lending platform to underwrite, document, and fund deals 24/7.

Product overview

Dext Capital is a direct lender specializing in equipment financing for healthcare and technology industries. The company's core offering is the DART platform (Dext Access Real Time), a patent-pending digital lending platform that enables 24/7 financing applications, auto-decisioning, and real-time transaction tracking. Surrounding this platform, Dext Capital offers multiple product lines: Vendor Finance Programs (with Standard Referral, Private Label, Managed Services, Co-Branded, and Usage-Based options), Third Party Originations, Capital Markets, Technology Vendor Channel, Wheels (specialty and vocational vehicles), Wellness (aesthetic/medical laser financing), and Client Solutions (direct equipment financing). Products include equipment finance agreements, operating leases, loans, and portfolio acquisitions ranging from $10,000 to $20 million+ with terms up to 120 months.

Differentiator

Problem solved

Functional benefit

Brands

• DART: Dext Access Real Time - a patent-pending lightning fast funding application platform for commercial lending that enables partners to enter, underwrite, and document deals on their own, around-the-clock, from anywhere.
• Dext Education

Products and services

• DART (Dext Access Real Time) Patent-pending mobile-first web application that enables partners and customers to apply for financing, underwrite, and document deals 24/7 with machine-learning auto-decisioning, accessible via mobile, tablet, or desktop browsers.
• Vendor Finance Programs Comprehensive vendor financing solutions including Standard Referral, Private Label, Managed Services, Co-Branded, and Usage-Based programs for OEM manufacturers, distributors, and resellers across healthcare, industrial, automation, construction, geospatial, software, and clean technology sectors.
• Client Solutions (Direct Equipment Financing) Direct equipment financing for end-user customers in healthcare, datacenter IT, robotics and manufacturing, ESG and green technologies, and material handling needs, led by John Sandoval.
• Wellness / Aesthetic Financing Aesthetic and medical laser financing with streamlined application process, funding up to $250,000, monthly payments starting as low as $99, and credit approvals within 2 hours.
• Wheels (Transportation / Specialty Vehicles) Financing solutions for transportation, vocational, and specialized equipment including day cabs, dump trucks, flatbeds, trailers, crane trucks, concrete mixers, and vac trucks, ranging from $20,000 to over $1 million.
• Technology Vendor Channel Financing solutions for technology manufacturers, solution providers, and resellers covering hardware, software, and services with flexible and customized financing solutions, led by Ralph Tomei.
• Third Party Originations Broker and third-party originator program featuring credit decisions in as little as 4 hours, real-time tracking via DART portal, risk-based pricing for A-B credits, and financing from application-only up to $1.5MM+.
• Capital Markets Third-party origination program for banks, independent finance companies, captive finance companies, and select brokers through Master Assignment Agreements, providing debt only and single investor structures and portfolio acquisition financing for middle-market credits.
• Working Capital Loans Working capital loans offered to healthcare providers as part of comprehensive financing solutions.

Quantifiable outcome

• Same-day credit approvals up to $500K with simple application and no financial statements
• +5 more outcomes

Named customers4 records

Segments7 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability6 records

Feature7 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Honour CapitalcoreStrategic or Co-development Partner · 1 January 2025Honour Capital team joined forces with Dext Capital, bringing additional expertise and resources to the organization in 2025.
• TEQleaseminorStrategic or Co-development Partner · 1 January 2024Dext Capital acquired certain TEQlease assets and launched Dext Education, expanding its capabilities and market presence.
• DocuSigncoreTechnology or IntegrationDocuSign integration enables AutoDocs feature on DART platform for immediate document transmission upon application and vendor approval. AutoDocs automates document assembly and distribution, allowing customization of points, doc fees, terms, and schedules.
• Lupus Foundation of AmericaminorOthersDext Capital supports the Lupus Foundation of America, which has been leading the Fight Against Lupus for over 40 years with pioneering contributions toward ending the brutal impact of lupus.
• Candlelighters OregonminorOthersDext Capital supports Candlelighters Oregon, which has supported more than 85,000 family members across Oregon and SW Washington since 1977.
• Ronald McDonald House Charities of Oregon & SW WashingtonminorOthersDext Capital supports Ronald McDonald House Charities of Oregon & SW Washington, providing access to medical care and a home away from home for seriously ill or injured children and their families.
• Big Brothers Big SistersminorOthersDext Capital supports Big Brothers Big Sisters, whose mentoring relationships support critical social and emotional development for children across America.

Scale indicators13 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• Ascentium Capital: Specialty equipment finance lender with strong presence in healthcare, wellness, and technology verticals; named in Dext's management bios as a prior employer for several sales leaders, making it a direct head-to-head competitor in similar customer segments.
• DLL Group: Global vendor and equipment finance specialist running vendor-finance programs across healthcare, industrial, and technology — directly comparable to Dext's vendor finance, technology vendor, and Wheels channels.
• Winthrop Resources: Healthcare-focused equipment finance provider serving hospitals and health systems; directly comparable to Dext's healthcare provider channel for diagnostic and capital equipment leases up to $20M.
• Balboa Capital: Independent equipment lessor focused on small- and mid-ticket transactions for SMBs; directly comparable to Dext's small-ticket wellness and transportation financing offerings.
• Marlin Business Services: Specialty equipment leasing platform focused on small businesses; comparable to Dext's small-ticket underwriting book and third-party originator program structure.
• Key Equipment Finance: Bank-affiliated equipment lessor with deep vendor program expertise; cited as a prior employer of Dext's Technology Vendor SVP and represents a direct competing model in mid-ticket vendor finance.

Broad incumbents

• U.S. Bank Equipment Finance: Bank-affiliated equipment finance division with healthcare and vendor program expertise; cited as a prior employer of multiple Dext executives and a core incumbent competitor across all ticket sizes.
• CIT Group: Large commercial bank with a substantial equipment finance franchise across healthcare, technology, and industrial verticals; a broader incumbent against which Dext competes on speed and flexibility for mid-ticket deals.
• Wells Fargo Equipment Finance: Major bank-affiliated equipment lessor originating through direct, vendor, and broker channels across the U.S.; competes with Dext's full channel portfolio and is named (via Norwest Financial Leasing) in Dext management backgrounds.
• Huntington Equipment Finance: Bank-affiliated equipment finance group led by a former Dext CSO; offers a comparable mix of direct, vendor, and middle-market equipment financing solutions across geographies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dext Capital