IOU Financial Originated $161.5M in Loans in 2021

IOU Financial is coming off of its biggest year ever. The company has revealed total loan originations of $161.5M for 2021, up nearly 100% year-over-year. The figure puts it ahead of rival Funding Circle USA in 2021, according to origination data compiled by deBanked.

In a public statement, IOU President and CEO Robert Gloer said, “The success of IOU’s marketplace strategy announced in 2021 is allowing us to scale up faster than previously possible. We’re proud of the team for breaking new origination records and giving us the extra latitude to further reduce corporate debt.” The latter comment was in reference to the company’s intention to repurchase approximately $1.2 million of its convertible debentures at par.

IOU’s full year 2021 financials are expected to be released next month.