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CreditMax nabs equity for electronic debt exchange

August 18th, 2010

CmaxWEST PALM BEACH, FL – CreditMax, an electronic exchange for the sale and purchase of distressed consumer debt,  has received a growth equity investment in an undisclosed amount from PPF Finance, a subsidiary of PartnerRe Ltd. (NYSE: PRE) and Metropolitan Equity Partners.

The investment is designed to enable the rapid expansion of CreditMax’s NDSE Trading Platform and the launch of CreditMax’s debt lending program for qualified debt buyers.

CreditMax’s NDSE exchange enables sellers to list debt for sale on a national, regional, state, local, or even account-specific basis.  The platform enables buyers to identify and analyze portfolios in an efficient manner and to acquire those assets that have the most value to them.

The capital investment is being used to expand operations to increase the supply of debt on the NDSE as well as to provide financing on terms commercially unavailable elsewhere to portfolio buyers.

“The investment from PartnerRe and Metropolitan Equity,” said CEO Stephen Kass, “enables us to offer financial leverage to a range of debt buyers, from smaller buyers seeking $50,000 for spot trades to larger buyers seeking multi-million Dollar flow agreements.”

CreditMax is positioned to serve as a central clearinghouse for buyers and sellers.  Sasha Grutman, special partner of Metropolitan Equity Partners, explained, “As investors, we have seen what pricing transparency, electronic efficiency, and a deeply experienced capital markets team have done for numerous other financial services verticals.  CreditMax will bring those same benefits to the Distressed Consumer Debt Industry.”

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