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Mission Lane names CEO; secures $500M in financing

Shane Holdaway, previously of Capital One and former Barclays U.S. consumer bank chief, was named CEO of Mission Lane LLC.

Mission Lane also announced that it has raised more than half a billion dollars in equity and debt financing, which includes a series A investment of more than $200 million from Invus Opportunities, LL Funds LLC, QED Investors LLC and funds managed by Oaktree Capital Management LP. The capital will be used to scale the company.

The company has also secured a new debt facility of $300 million from Goldman Sachs and Oaktree.