San Diego –LEAP Financial, a vehicle leasing company that serves consumers who have difficulty obtaining credit, shared milestones on the company’s rapid growth during 2011.  Overall the company experienced over 600% growth in total revenues year-over-year. 

“LEAP Financial achieved several key milestones in 2011 and we are seeing even more momentum ahead, driven by a strong management team and expanded adoption of our products and services in the marketplace,” said Tim Condon, CEO of LEAP Financial. “We believe our unique approach helps both lenders and borrowers wrestling with auto loan default or repossession.”

Key metrics demonstrating LEAP’s rapid expansion during 2011 include:

• Application volumes and monthly originations more than quadrupled
• Number of customers grew over 300%
• Number of employees grew from 15 in 2010 to 52 in 2011
• New headquarters established with space doubling to accommodate growth
• LEAP was named one of San Diego Venture Group’s 25 Cool Companies for Innovation

“Finances for the average consumer are unlikely to improve significantly for the foreseeable future, and lenders need to continue to find ways to work with customers who have a willingness to pay, but have limited resources,” noted Condon.  “People need their cars to maintain employment, shop for groceries, and take care of other necessities in a difficult economy.  LEAP’s solution is attractive to both lenders and consumers; LEAP allows severely delinquent borrowers to remain in their cars.”

Condon recently published ‘Seven Myths  about Repossession’ that highlights opportunities for lenders to think differently about managing their vehicle  portfolios.

For more information about LEAP and how it can benefit your business or clients, please contact Lindy Hood at [email protected].

About LEAP Financial

LEAP, headquartered in San Diego, CA, is a vehicle leasing company serving consumers who have difficulty obtaining credit either keep their current vehicle or get another one.  The company’s unique product enables customers who are unable to qualify for traditional financing to lease a vehicle.  Customers are sourced through referrals from business partners and direct-to-consumer marketing.  Backed by Austin Ventures and staffed with experienced auto finance professionals, LEAP is currently operating in most states.  Visit www.leapautoloans.com for more information.

About Austin Ventures

Austin Ventures (“AV”) has worked with talented entrepreneurs to build valuable companies for over twenty-five years. With $3.9 billion under management, AV is the most active venture capital and growth equity firm in Texasand one of the most established in the nation. Visit www.austinventures.com for more information.