Reach Financial

What Reach Financial does

Reach Financial is a privately held, New York-based direct-to-consumer online personal lending platform founded in 2015 that originates unsecured personal loans (ranging from $3,500 to $40,000, at fixed APRs of 5.99%–35.99% over 24–60 month terms) used primarily for debt consolidation and credit card refinancing. Loans are underwritten and issued by FinWise Bank, a Utah-chartered FDIC member bank that serves as the lender of record, while Reach Financial operates the technology, brand, and loan servicing layer through its reach.com web platform. The platform supports customized payment schedules (bi-weekly, semi-monthly, or monthly), early and principal-only repayment without penalty, soft-pull rate checks, free monthly credit score monitoring, and online account management, distinguishing its simple-interest loan structure from compounding credit card debt.

The company's core technology stack is a lightweight, web-based origination and servicing portal integrated with Plaid for financial data aggregation and Mitek Systems for biometric identity verification. Reach Financial holds lending licenses across 32+ U.S. states and operates a dual acquisition channel combining the self-serve web funnel with targeted direct-mail pre-qualified offer codes. The company monetizes through origination fees (0%–8% of loan principal) and interest income on the loan portfolio, and the company has funded portfolio growth through twelve asset-backed securities transactions to date, including the $405.6 million Reach ABS Trust 2026-2 issuance in 2026.

Reach Financial shares common ownership with National Debt Relief, LLC and serves U.S. consumer borrowers seeking to consolidate high-interest credit card debt, with cumulative customer debt consolidation exceeding $3 billion since founding and an average reported interest savings of $14,484 per customer loan. The company employs 51–100 staff, suggests a lean operating model relative to its origination scale, and is funded primarily through ABS market access rather than disclosed venture or growth-equity capital raises.

Name

Reach Financial

Legal name

Reach Financial LLC

Website

https://reach.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

51–100 employees

Short description

Reach Financial is a New York-based direct-to-consumer online lender offering unsecured personal loans ($3,500–$40,000) for U.S. consumers seeking debt consolidation and credit card refinancing, originated through a FinWise Bank partnership and serviced via the reach.com platform.

Ownership category

akta.pro rank

Product category

Consumer Lending

NAICS

Credit Intermediation and Related Activities (522), Activities Related to Credit Intermediation (5223)

SIC

Personal Credit Institutions (6141), Asset-Backed Securities (6189)

akta.pro primary industry

Debt Consolidation Personal Loans (Unsecured Installment) (FSAKAAAD)

akta.pro secondary industry

Personal Loan Refinance (Rate/Term) (FSAKAIAB)

Keywords

• Personal lending platform
• Debt consolidation loans
• Consumer credit services
• Online loan origination
• Unsecured personal loans

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Personal Loan Origination Fees and Interest: Reach Financial earns revenue from interest charged on personal loans (APR ranging from 5.99% to 35.99%) and origination fees (ranging from 0% to 8% of the loan amount). Loans are used primarily for debt consolidation and credit card refinance. The company also securitizes its loan portfolios through ABS transactions (its twelfth overall securitization issued in 2026, totaling $405.6 million for the 2026-2 trust).

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Reach Financial operates a direct-to-consumer online personal lending platform offering unsecured personal loans ranging from $3,500 to $40,000 for debt consolidation and credit card refinancing. Loans carry fixed APRs of 5.99%-35.99%, terms of 24-60 months, origination fees of 0%-8%, and are issued by partner FinWise Bank. The product is differentiated by simple (non-compounding) interest, customizable payment schedules and amounts, no prepayment penalty, free monthly credit score access, and a soft-pull rate-check experience.

Product overview

Reach Financial offers a unified personal loan product designed to help consumers consolidate debt and refinance credit cards. The core product is an unsecured personal loan ranging from $3,500-$40,000 with fixed APRs (5.99%-35.99%) and terms of 24-60 months, issued by partner FinWise Bank. Key differentiating features include customizable payment options, free monthly credit score tracking, and a rate check tool that allows pre-qualification without credit impact. The company also facilitates ABS securitizations of its consumer loan portfolio. All products and features are accessed through the main web platform at reach.com.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Average customer interest savings of $14,484 per loan through simple interest debt consolidation
• +1 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• FinWise BankcoreOEM/ Whitelabel/ Licensing PartnerReach Financial loans are unsecured personal loans issued by FinWise Bank, a Utah chartered commercial bank, member FDIC. Reach Financial operates as the technology platform and brand, while FinWise Bank serves as the lender of record for loan origination.
• Plaid Technologies, Inc.coreTechnology or IntegrationReach Financial has partnered with Plaid to gather customers' financial data from financial institutions for account linking and financial assessment purposes in the loan application and servicing process.
• Mitek Systems, Inc.coreTechnology or IntegrationReach Financial has partnered with Mitek to collect biometric data (e.g., facial recognition/ID verification) for the purpose of verifying customer identity during the loan application process.
• National Debt Relief, LLCminorOthersReach Financial, LLC shares common ownership with National Debt Relief, LLC. Both companies are under the same corporate umbrella, suggesting shared strategic direction or affiliated operations in the consumer debt management space.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• SoFi Technologies: SoFi is a large direct-to-consumer online lender offering unsecured personal loans for debt consolidation alongside a broad fintech platform. While broader in scope (banking, investing, student loans), its personal loan product competes head-to-head with Reach for the same consolidation-focused borrowers.
• OneMain Financial: OneMain is a large established installment loan lender serving near-prime and subprime consumers—the same customer profile as Reach's higher-APR segment—via a hybrid digital/branch model. Serves as a comparable incumbent in the non-prime personal installment space.

Direct peers

• LendingClub: LendingClub operates a marketplace personal loan platform targeting debt consolidation and credit card refinance, with similar loan sizes ($1K–$40K) and a digital application flow. It is the most direct peer to Reach in product, customer, and channel terms.
• Prosper Marketplace: Prosper provides online unsecured personal loans primarily for debt consolidation and refinancing, with fixed terms and a digital application funnel—the same core model Reach uses against credit card debt. Comparable product, customer, and underwriting.
• Upstart Holdings: Upstart is an AI-driven online personal loan originator with bank partnership structure (loans issued through partner banks) that funds debt consolidation and credit card refinance. Most analogous fintech peer to Reach on product, bank-partner model, and ABS-funded origination.
• Best Egg (Marlette Funding): Best Egg is a digital-first lender providing unsecured personal loans ($2K–$50K) marketed heavily for credit card debt consolidation via direct mail and online channels—essentially the same playbook as Reach's direct-mail + digital GTM.
• Happy Money (formerly Payoff): Happy Money specializes in unsecured personal loans aimed at paying off credit card debt, with a mission-driven value proposition analogous to Reach's "outsmart debt" positioning. Direct overlap on consolidation use case and target borrower.
• Avant (Avant LLC): Avant is an online personal loan platform serving subprime-to-near-prime consumers—the same risk tier as Reach's higher-APR borrowers—and is funded through securitization. Comparable bank-partner model and origination strategy.

Emerging players

• Earnest (now part of Navient): Earnest offers online personal loans alongside student loan refinance, with a digital application flow and a focus on borrowers seeking transparent, customizable terms—a product philosophy close to Reach's. Comparable digital experience even if its loan-portfolio emphasis leans toward student refi.
• Figure Technologies: Figure originates personal loans and home equity loans via its fintech platform with a digital application funnel, targeting debt consolidation and refinancing use cases. Overlapping product line and ABS-funded origination model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Reach Financial