According to the complaint, the salesperson there told him the store needed a copy of his drivers license for verification of his identity for the financing arrangement. Muth had been CEO until last year, when Finnegan took over. We are overtly transparent on the terms of the arrangement.. Saunders, 34, is the son of Paul Saunders, founder and CEO of Goochland-based investment firm James River Capital. West Creek was founded by Rob Finnegan, Boomer Muth and a third, unnamed co-founder. In 2016, West Creek Financial received a $25 million senior secured credit facility from Victory Park Capital, and an additional $3 million in equity investments led by VPC, with other contributions from angel investors. The service requires full JavaScript support in order to view this website. If you have a lease with West Creek you can send payments to PO Box 5518, Glen Allen, VA 23058. Qualifying consumers may be approved for up to $65,000 in loan funding or $7,500 in lease-to-own funding. Heres what we learned about their approach. Here are some stats about them that may surprise you. Holdings. However, the complaint for this class action says he found he was being charged $2,700, with money being subtracted from his bank account every two weeks without his permission. See how they did it. New regulations put forth by the DOE will increase the upfront cost of new HVAC units. Other modern and bold brand elements . The last dairy farm in Hanover County is forging a new path with the addition of a great American comfort food: ice cream. Total amount raised across all funding rounds, Total number of Crunchbase contacts associated with this organization, Total number of employee profiles an organization has on Crunchbase, Total number of investment firms and individual investors, Total number of organizations similar to the given organization, Descriptive keyword for an Organization (e.g. If youre a dealer or retailer, please click here. There was a problem saving your notification. Muth is now president. Summary. The NYGBL 349 Class includes all class members whose transaction was within three years of the filing of the complaint. It is very simple and clean, Cavaliere said. West Creek Financial PO Box 5518 Glen Allen, VA 23058-5518. This field is for validation purposes and should be left unchanged. In our most recent NPS survey, we received a category leading score of 74 from our merchant partners. Will it impact my score. This is a lease-to-own product. Please enable cookies on your browser and try again. Founded Date 2014. {{start_at_rate}} {{format_dollars}} {{start_price}} {{format_cents}} {{term}}, {{promotional_format_dollars}}{{promotional_price}}{{promotional_format_cents}} {{term}}, Independent Contractor (Newspaper Carrier), Virginia From Above: The Diamond District, Former Virginia basketball coach Terry Holland dies after battling Alzheimer's, Poll: Youngkin trails Trump, DeSantis in Va. GOP presidential preference, Farmville native caught with 42 lbs of cocaine, $862K in drug money gets 17 years. www.moderntiredealer.com is using a security service for protection against online attacks. US 100 101. The company was one of West Creeks first retail clients. Headquarters Glen Allen, Virginia. For more information, please visit our website at www.nb.com. When typing in this field, a list of search results will appear and be automatically updated as you type. In which the purchase occurred at a vendors New York location or online where the vendor is incorporated or headquartered in New York. With the help of Koalafis advanced technology and analytics, delightful experiences, and world-class support, thousands of merchants nationwide have grown their businesses, and more of their customers can finally dream bigger. Daisley then asked the company for a copy of his contract. If you have a . How are you keeping up? Contact customer support at the following: We will continue to offer Koalafi to the same merchant partners. While the company does not reveal details about its computer algorithm, Muth said its decision-making methodology enables it to get approval rates exceeding 70 percent for lease-to-own deals that typically average about $1,000 in value. Finnegan founded West Creek Financial in 2014 with fellow Capital One alums Boomer Muth and Scott Barton. Other modern and bold brand elements better reflect our identity as a technology company and our distinctive approach to financing. If approved online, simply bring your approved application, account number, and photo identification to the Metro Mattress nearest you. West Creek Financial PO Box 5518 Glen Allen, VA 23058-5518, Customer Support Mon-Fri 8:00am-9:00pm Sat 8:00am-8:00pm 844.937.8275, West Creek Financial, Inc. 2023, all rights reserved. Ten other angel investors joined in the $3 million investment. However, the complaint claims that under New York state law, West Creek is required to keep the merchandise in working order, and to provide a substitute or loaner item if it cannot be repaired promptly. West Creek Financial is a company using big data analytics that make it easier for consumers to get approved on lease-to-own loans. The company, founded in 2014, provides point-of-sale, lease-to-own financing for consumers to buy home appliances, furniture and mattresses. What Is Lease-to-Own? We offer a transparent, and affordable no credit needed financing option. Founded 2014. Operating Status Active. West Creek has 5 employees at their 1 location and $13.5 m in total funding,. Also joining the company as chief revenue officer was Bob McCarthy, who had worked for 12 years as a sales manager and division vice president for mattress and pillow company Tempur Sealy International and its predecessor Tempur-Pedic. Koalafi offers Lease-To-Own and Lending solutions. Exciting new name. View contacts for Koalafi to access new leads and connect with decision-makers. Our goal at West Creekhas always been to deliver superior products and excellent service that exceeds your expectations. Daisley made the purchase at Electronics for Best in Jamaica, New York. West Creek itself has hired 26 people so far and expects to have 70 employees on board by the end of 2017. The company sent him a Lease Agreement with Ownership Option with a digital signature, but Daisley says the signature was not his. The company did not disclose the investors for the most recent round of funding. Dealer Login; Customer Login; Payment. According to the complaint, the Agreement does not comply with New York law and is materially deficient and unlawful, both in terms of its substantive terms and its disclosures to consumers of their rights, among other things. There was a problem saving your notification. Multiple Finance Accounts and Credit Cards Can Be Combined to Make a Purchase! Koalafi offers a single financing platform with pay-over-time products and services for every type of customer. He sold that business in 2012 and co-founded West Creek Financial in 2014. The merchant name on your billing statement will change from West Creek Financial, Inc. to WCREEK KOALAFIbut you wont need to do a thing. We now have over 1,300 retailers across the country, so we are a national company now, Muth said. Mark Every (left) is COO and Boomer Muth is CEO of West Creek Financial, which is able to analyze large sets of financial data and approve more customers for lease-to-own deals. You can cancel at any time. The tradeline will include our new name Koalafi. There will be no impact to your score. The complaint divides this class into two subclasses. Our relationship with you isnt changing and you will continue to have access to the same lease or loan capacity with the same terms. Finnegan said about 85 percent of its business comes from furniture and mattress purchases, while HVAC purchases are a new segment it jumped into this year. West Creek looks at larger data pools than simple FICO credit scores, and Muth said the company looks for reasons to say yes, where our competitors look for reasons to say no. Yet even with higher approval rates, the company is able to use its data systems to keep its risk profile in line, he said. Insider (Form 4) Ownership/Private Fund Data. To make matters worse, the laptop Daisley bought has had significant problems, including freezing and disconnecting from local networks. www.moderntiredealer.com is using a security service for protection against online attacks. Home; About Us; Dealer Benefits; FAQ; Contact Metro Mattress financing is provided by Koalafi from West Creek Financial. A Netherlands-based company that specializes in automated horticulture is coming to Chesterfield County. Website Exclusive Extreme Discount Specials. For six consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). Class includes class members whose transaction was within four years of the filing of the complaint. www.moderntiredealer.com is using a security service for protection against online attacks. Managers. Our rebrand coincides with the national expansion of our stand-alone financing solution which offers an array of Koalafis financing products to consumers with excellent to no credit through a single platform. Your subscription has expired. If you want to see an evening movie at Movieland at Boulevard Square, soon youll have to be age 17 and over. It was enough to open my eyes to say, Oh my gosh, this is an incredible business using technology to disrupt the status quo, he said. This process is automatic. West Creek was built on a foundation of excellent customer service, which continues to be a pillar of their business today, and one of the main reasons for their success. Ind. He said about 30 percent of the businesss customers do lease-to-own financing. Cerone Waddy, customer service rep, works in the West Creek Financial offices on Wednesday Dec. 4, 2017. But once he got to know Finnegan and Muth and did due diligence, Saunders said he was sold. With a Lease Agreement with Ownership Option substantially similar to the agreement attached to the complaint as Exhibit A. A big selling point for us to our retail customers was (West Creek) were one of the least expensive with fees and repayment rates.. There was no activity on this page for some time. Through the use of proprietary software, the company not only speeds up the process of applying for and receiving a loan, but it simultaneously makes the mechanisms of the decision more transparent for the consumers going through it. Based on West Creek Financial, Inc., the KOALAFI trademark is used in the following business: financing services; loan financing; loan origination services; lease-purchase financing; providing information in the field of durable goods financing; credit modeling and underwriting in the field of financial loans , Software as a service (SAAS) Website www.koalafi.com Formerly Known As West Creek Financial Ownership Status Privately Held (backing) Financing Status Private Equity-Backed Primary Industry Financial Software Primary Office Post Office Box 5518 Glen Allen, VA 23058-5518 United States +1 (844) 000-0000 Koalafi Timeline 2020 2021 2022 2023 West Creek says it offers financing through more than 3,000 retailers in 44 states more than double the retail outlets it worked with a year ago. {{start_at_rate}} {{format_dollars}} {{start_price}} {{format_cents}} {{term}}, {{promotional_format_dollars}}{{promotional_price}}{{promotional_format_cents}} {{term}}, Independent Contractor (Newspaper Carrier), Virginia From Above: The Diamond District, Former Virginia basketball coach Terry Holland dies after battling Alzheimer's, Poll: Youngkin trails Trump, DeSantis in Va. GOP presidential preference, Farmville native caught with 42 lbs of cocaine, $862K in drug money gets 17 years. In 2015, the company got $3 million in equity funding to support its operations, including hiring staff, as well as a $25 million secured credit facility, which West Creek is using to fund its leasing activities. Email notifications are only sent once a day, and only if there are new matching items.