# Lender Compliance Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lender-compliance-technologies

- Industry: Financial Services
- Headquarters: Colleyville, US
- Website: www.lct1.com
- Total disclosed funding: $4.2M
- Latest round: Series A (Jun 23, 2021)
- Investors on record: 2

## About

Lender Compliance Technologies provides innovative solutions for managing cancellations and refunds of Finance and Insurance products, focusing on regulatory compliance and operational efficiency for lenders in the finance industry.Founded in 2020, Lender Compliance Technologies is based in Colleyville, US, and specializes in streamlining the cancellation and refund process for lenders. The company has raised USD 4.15 mn in Series A funding as of June 23, 2021, co-led by Automotive Ventures and Driven Capital Partners. Although no pivots are mentioned, the firm has completed one deal to date with a focus on enhancing its technology solutions. No information is available on subsidiaries or previous company foundations by individuals.Lender Compliance Technologies (LCT) specializes in providing comprehensive solutions for managing cancellations and refunds of F&I (Finance and Insurance) products through its flagship offering, Refund Control™. This lender-managed system streamlines the cancellation process by enabling lenders to submit cancellation requests to dealers and providers simultaneously, ensuring timely access to refund data and promoting compliance with consumer protection laws. Refund Control™ addresses critical pain points in the refund workflow, such as inconsistencies in processing cancellations related to early payoffs, repossessions, and total losses. The primary users of LCT’s services include banks, credit unions, and finance companies across various sectors, including automotive, RV, marine, and powersports loan products. This SaaS solution is designed to serve the regulatory environments in the United States, where scrutiny of F&I product refunds is intensifying.Lender Compliance Technologies generates revenue primarily through the deployment of its Refund Control™ service to lenders, facilitating a streamlined refund process that adheres to regulatory standards. The company's transaction structure is B2B, as it partners with lenders who require efficient management of F&I product cancellations and refunds. Through its subscription model, lenders pay for access to the Refund Control™ system, which includes features such as automated cancellation notifications, audit-ready reporting, and compliance tracking. The firm’s revenue model is designed to help lenders manage their relationships with dealers while minimizing the risk of non-compliance.Following the recent funding round in June 2021, Lender Compliance Technologies plans to utilize the USD 4.15 mn raised to enhance its technology solutions and help lenders mitigate regulatory risks. The company is strategically looking to expand its offerings and possibly enter new markets, although specific details on the upcoming products or geographic regions targeted for expansion have not been disclosed.

## Funding rounds

- Series A, Jun 23, 2021, $4.2M — Automotive Ventures, Driven Capital Partners

## Investors

- Automotive Ventures (https://capitalatlas.ai/funds/automotive-ventures) — Series A
- Driven Capital Partners (https://capitalatlas.ai/funds/driven-capital-partners) — Series A