Newfi Lending, owned by funds managed by Apollo Global Management, has announced an expansion of its partnership with Dunmor, a national fintech lender, to include a minority equity investment.
The investment expands upon the partnership between Newfi and Dunmor that was announced in June 2024.
Dunmor was established in 2021 to meet the growing needs of real estate investors and developers seeking Residential Transition Lending (RTL). Under the terms of the expanded partnership, Newfi continues to provide an initial financing facility to expand Dunmor’s origination capacity for bridge, fix-and-flip, and ground-up construction loans for real estate developers.
Additionally, Newfi is providing a strategic minority investment to empower Dunmor to capture the growing market opportunity within the RTL sector.
Founder and CEO of Dunmor, Franck Ruimy, expressed his enthusiasm about the company’s new partnership in the business lending space, stating, “Our team has created a remarkable platform and brand, and we are now set to embark on a new growth phase with Newfi as a key strategic partner together with Apollo’s backing. This equity investment positions us to continue delivering the high level of service our clients expect, complemented by an even stronger commitment to providing innovative funding solutions at highly competitive rates.”
“Over the past 6 months Dunmor’s platform and performance continues to impress us, and we are looking forward to expanding our relationship with a minority equity investment,” said Newfi founder and CEO, Steve Abreu.
The transaction aims to hit several milestones that are structured to further align and strengthen the relationship between Newfi and Dunmor over time, including opportunities to increase equity ownership.
