StoicLane, a long-term growth platform making controlling and strategic minority investments in the Finance, Insurance & Real Estate (“FIRE”) verticals, today announced that its principals led a $175M strategic investment in Interfirst Mortgage Company (“Interfirst”), a leading, tech-enabled mortgage originator, through a special purpose vehicle with funds managed by Oaktree Capital Management, L.P. (“Oaktree”), MFA Financial, Inc, (NYSE: MFA), family offices and other strategic investors. Through its proprietary platform, Interfirst aims to eliminate the upfront fees, cut interest cost, and decrease the complexity of a traditional mortgage by utilizing technology and artificial intelligence (AI). StoicLane’s strategic partnership is designed to accelerate growth, innovation, and technology advancement.
"The mortgage industry is fragmented and ripe for disruption by tech-enabled, customer-centric platforms,” said Al Goldstein, Co-Founder, CEO, and Chairman of StoicLane. “We look forward to partnering with Interfirst’s talented management team and employees to help accelerate the realization of Interfirst’s potential.”
"We are thrilled to welcome StoicLane as our new partner, as Al and the team share our strategic vision for the long-term,” said Dmitry Godin, CEO of Interfirst. “StoicLane’s investment in Interfirst signifies their confidence in our commitment to innovate and deliver best-in-class technology for the mortgage industry. This partnership will help us continue to build as we drive the mortgage industry forward.”
Brian Laibow, Managing Director and Co-Head of North America for Oaktree’s Global Opportunities strategy, Jeffrey Hecktman, Founder & Chief Executive Officer of Hilco Global, and Brian Brooks, former CEO of Binance.US and former U.S. Acting Comptroller of the Currency, joined the Board of Directors.
About StoicLane:
StoicLane is a Chicago-based long-term growth platform making controlling and strategic minority investments in the Finance, Insurance & Real Estate (“FIRE”) verticals. The firm works closely with its portfolio companies by harnessing the power of data and technology to bring better service and quality to consumers. To learn more about StoicLane, visit stoiclane.com.
About Interfirst Mortgage Company:
Interfirst Mortgage Company is a high growth, tech enabled mortgage originator focused on delivering a transparent, streamlined customer experience. Founded in 2001 and relaunched in 2020, Interfirst is built on a proprietary loan origination technology platform and an expanded business model featuring an integrated retail and wholesale offering. With innovation at its core, Interfirst enables mortgage broker partners and loan originators the ability to operate efficiently and friction free through a technology-driven model based on service, speed, competitive products/pricing, and sustainability. For more information, visit interfirst.com.
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Contacts:
Prosek Partners
pro-stoiclane@prosek.com
