Elevate Credit Inc., a Texas-based company that lends online to riskier borrowers, announced Monday it has relocated its analytics center in Solana Beach to an office twice the size in the Del Mar Heights/Carmel Valley area.
The company has named its new space Elevate Labs.
Elevate said it invests $40 million yearly in its technology and analytics capabilities, which includes the proprietary risk analytics platform that underlies its underwriting decisions.
The company’s technology and analytics team includes more than 35 data scientists worldwide; the San Diego office is its most concentrated and fastest-growing analytics center, the company said.
Elevate, which trades on the New York Stock Exchange as ELVT, says it has originated $4 billion in credit to more than 1.6 million borrowers to date.