Covered Holdings Announces Follow-on Investments by Fortress and Westlake

New Investments to Support Platform Diversification and Growth

DALLAS, May 25, 2022 /PRNewswire/ — Covered Holdings, a buy now, pay later financing platform for people typically declined traditional credit, announced today that it closed follow-on investments from affiliates of Fortress Investment Group LLC and Westlake Financial.  The new $8mm combined investment is on top of $200 million in existing lending facilities from the two firms.

“The demand for better financing options, especially in healthcare, has never been stronger and we’re currently installing our solution in hundreds of new locations each month,” said Ken Rees, founder, and CEO of Covered Holdings.  “This new investment will support the rapid scaling of our business as we diversify our platform and expand into new verticals.”