Historic Growth and Unprecedented Momentum: Doc2Doc Lending Helps Meet the Financial Needs of Physicians with up to $100 Million from Rivonia Road Capital

Posted 10:00AM on Tuesday, April 30, 2024

ATLANTA--(BUSINESS WIRE)--Apr 30, 2024--

Doc2Doc, Inc. and Rivonia Road Capital LLC today announced a financing that represents a momentous stride in Doc2Doc’s trajectory. Rivonia Road has agreed to provide up to $100 million, making this transaction the largest in the Company's history and affirming its dedication to offering impactful financial solutions exclusively and uniquely for doctors.

“As we enter this evolutionary partnership with Rivonia Road Capital, it’s more than just a transaction; it's a merging of mutual values and a shared understanding of our core mission—to empower doctors by providing financial tools that propel their personal and professional aspirations,” said Chris Cronk, Chief Financial Officer, Doc2Doc. “The successful closing of this inaugural Loan Purchase Agreement with Rivonia Road Capital underscores our relentless pursuit of excellence and innovation in service to our members.”

The Rivonia Road Capital partnership comes on the heels of a remarkable year for Doc2Doc, in which it generated 200% year-over-year revenue growth and a 131% increase in membership. Coming off Match Day 2024, the Company is on the brink of another significant period as tens of thousands of medical students transition to residency. Understanding the financial challenges this transition presents, the Company remains committed to easing this journey for doctors in training. By offering personal loans exclusively tailored to their needs, Doc2Doc lending alleviates the financial stress associated with this critical phase of their careers.

“These achievements are not merely milestones but steppingstones towards a future filled with even greater possibilities. As we continue to grow, our resolve to support and empower doctors at every phase of their career journey becomes even stronger,” said Dr. Zwade Marshall, MD, MBA, CEO and Co-Founder, Doc2Doc. “We are deeply thankful to Rivonia Road Capital, our esteemed team, and most importantly, the doctors we serve.”

“We are excited to partner with Doc2Doc and its outstanding management team by providing the capital needed to offer an unparalleled lending experience to physicians,” said Brad Smiedt, Co-Managing Partner of Rivonia Road Capital, “We believe strongly in the Company’s mission and look forward to supporting its achievement.“

About Doc2Doc Lending

Founded in 2017, Doc2Doc Lending’s financial products and services are built to address the nuances of a doctor’s life — from high-interest debt to hectic schedules to professional and family pressures — and delivers one-of-a-kind solutions. Doc2Doc believes doctors deserve better than the status quo and delivers on that promise.

Doctors don’t have time to waste. That’s why Doc2Doc has fast-tracked their lending process and streamlined their platform to give doctors exactly what they want when they need it. The company accelerates the speed from application to action and eliminates the hassles so doctors can focus on what they do best — helping patients thrive. And, if anything comes up along the way, a real person (not an AI bot or call center) is available to talk, text, in real-time to assist in any way possible. For more information, go to www.doc2doclending.com

About Rivonia Road Capital

Rivonia Road Capital is a global alternative asset manager that offers a unique combination of deep institutional investment experience with significant operating expertise in the private asset-based financing markets. Rivonia provides strategic debt capital to growing financial technology and related companies, allowing those businesses to unlock significant value for their shareholders, customers and employees. Founded in 2017 and headquartered in Los Angeles, the firm has an active investment portfolio and has financed assets across the consumer, commercial, and real estate markets. For more information, go to www.rivoniaroad.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20240430658329/en/

CONTACT: Melissa Skabich

PCE Communications

[email protected]

973-760-9926

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA GEORGIA

INDUSTRY KEYWORD: OTHER PROFESSIONAL SERVICES PRACTICE MANAGEMENT FINANCE GENERAL HEALTH HEALTH HEALTH TECHNOLOGY PROFESSIONAL SERVICES OTHER HEALTH

SOURCE: Rivonia Road Capital

PUB: 04/30/2024 10:00 AM/DISC: 04/30/2024 10:02 AM

http://www.businesswire.com/news/home/20240430658329/en

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