Possible Finance, a Seattle-based fintech providing small-dollar loans as an alternative to payday lending, reached a $125 million revenue run rate last year and posted its first annual profit. The company recovered from a pandemic period that threatened its future, after cutting more than a third of its staff in 2022. Possible is now expanding again, with about 150 employees globally and plans to double its office footprint near Pike Place Market to accommodate up to 100 people locally. Leadership is being reinforced with new hires, including a returned co-founder to lead AI initiatives, plus executives covering people, general counsel, product, and chief of staff roles.
"Possible Finance, a Seattle-based fintech startup that provides small-dollar loans as an alternative to payday lending, hit a $125 million revenue run rate last year and posted the first annual profit in its history, recovering from a rough stretch during the pandemic that put its future in doubt."
"One of the recent additions is actually not new to the company at all: co-founder Prasad Mahendra, who left two years ago to join another startup, returned last month to help lead Possible's AI initiatives."
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