Fintech
Fintech firm Stream Innovations, Inc. secures $400 million inventory from Goldman Sachs
The company moves its headquarters to Conshohocken, Pennsylvania
CONSHOHOCKEN, Pennsylvania, June 13, 2024–(COMMERCIAL WIRE)–Stream Innovations Inc. (“STREAM”), a U.S.-based financial technology company that provides point-of-sale financing for home renovations and solar installations, has closed on a $400 million Goldman Sachs Bank USA warehouse. This facility will be used to expand STREAM’s rapidly growing portfolio of home loans.
STREAM’s primary business partner is Power Home Remodeling (“POWER”), the nation’s largest full-service exterior home remodeler, specializing in energy-efficient exterior home improvements. STREAM currently has $670 million in loans under management and expects to disburse more than $800 million in high-quality home improvement loans in 2024.
“STREAM is focused on financing sustainability-related home improvement projects. It combines best-in-class technology and delivery processes with an empathetic approach to servicing, providing confidence in the quality of the loans we underwrite and service,” said PJ Singh, CEO of STREAM. “A financing of this size from one of the world’s leading financial companies is not only confirmation of our vision and work to date, but also a substantial benefit that comes early in our company’s history and will fuel growth and innovation in the years to come.”
Additionally, STREAM has evolved its name and location. Originally named “Stream Financial,” the company updated it to “Stream Innovations, Inc.” to take into account its differentiating technology stack and broader thinking. It also moved to a new office in Conshohocken, Pennsylvania, increasing the company’s staff by a multiple of five and providing a centralized location with easy access to Philadelphia, the International Airport and surrounding locations.
About Stream Innovations Inc.
Stream Innovations Inc. is a leading financial technology company focused on providing point-of-sale financing solutions for the home improvement industry. Founded in 2020, the company is headquartered in Conshohocken, Pennsylvania and does business throughout the United States.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240611972136/en/
Contacts
Stream Innovations, Inc.
pr@streamfinancial.com
610-922-1070