JG Wentworth acquires a Silicon Valley Fintech digital consumer lending platform and appoints new SVP of Lending
CHESTERBROOK, Pa., Mar. 8, 2023
Industry leading consumer financial services company JG Wentworth announced today that after its recent acquisition of Stilt Inc., it is appointing Stilt co-founder and ex-CEO Rohit Mittal as Senior Vice President and General Manager of the Lending division of The JG Wentworth Company effective December 1, 2022. In his role Mittal will be responsible for the P&L of JG Wentworth’s soon to be released consumer lending business and will work closely with various teams across the JG Wentworth brand.
Mittal comes to JG Wentworth as part of its recent acquisition of Stilt Inc., a San Francisco based fintech and personal loan lender. Mittal founded the company in 2015 with his co-founder Priyank Singh (now CTO at JG Wentworth). Prior to its acquisition by JG Wentworth, he led Stilt Inc.’s fundraising which included $14 million in Series A funding, and the company’s foray into fintech infrastructure with a product called Onbo. He also oversaw the raising of $375 million in Stilt’s equity and debt financing.
Mittal joins JG Wentworth with extensive experience in credit risk analytics and data science and spent years building risk and fraud models for top U.S. banks. He also brings on expertise in fintech compliance, regulations, modernization of lending products, debt capital strategies etc. In addition, he also advises companies across various stages on embedded lending, credit underwriting, and risk management. Prior to founding Stilt, he worked at Verisk Analytics optimizing credit risk, and was the founding member of the data science team at PopSugar, an American Media and Technology company. He has a bachelor's degree from Delhi College of Engineering in India, and a master's from Columbia University in the City of New York.
“I am thrilled about Rohit and the Stilt team joining JG Wentworth. This will be a major addition to the company’s capabilities. He (Rohit) brings on leading edge credit risk expertise along with a strong background in working collaboratively with regulators across the country and will be a primary driving force as we roll out our new consumer lending service.” said Randy Parker, Chief Operating Officer at The JG Wentworth Company.
About JG Wentworth
JG Wentworth is a consumer financial services company that focuses on helping everyday Americans achieve their financial goals. Its services include structured settlement payment purchasing, annuity payment purchasing, lottery and casino payment purchasing, and debt resolution services. Most recently, the company launched its consumer lending arm, with a focus on debt consolidation. JG Wentworth was founded in 1991 and is headquartered in Chesterbrook, Pennsylvania.
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About Stilt Inc.
Stilt is a leading mission-driven company building technology to democratize access to transparent credit products for the millions who are currently shut out by the financial system, such as immigrants, international students, DACA and visa holders. Stilt also provides businesses with the infrastructure to offer credit products to their customers in as little as two weeks, without requiring a bank sponsor. Founded by immigrants on visas, Stilt has lent to people from more than 150 countries around the world
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