777 Partners, a Miami based investment firm recently announced the acquisition of Uown Leasing (“Uown”), a lease-to-own company based in Tampa, Florida.
Uown, founded in 2008, partners with retailers of durable consumer goods to offer a lease-to-own financing product as an alternative to traditional credit. Currently, Uown offers its product in over 450 locations across the United States, with a focus on retailers of furniture, bedding and appliances.
Under the terms of the acquisition, Uown Leasing will combine operations with Mollie Financial, 777 Partners’ existing lease-to-own product, and operate solely under the Uown Leasing name going forward. Uown will utilize Mollie Financial’s best-in-class technology, including its innovative merchant portal.
“We look forward to expanding Uown into a nationally recognized leader in the lease to own industry, and we think that 777 Partners and Mollie Financial are the ideal partners to fuel explosive growth,” says Daniel Klein, the CEO of Uown.
“We are excited to add Uown to 777 Partners’ portfolio of consumer finance companies. Daniel and team have a built a market leading platform and we look forward to contributing to the future growth of Uown,” says Aaron Levy, Principal at 777 Partners.
About Uown Leasing: Uown Leasing operates lease purchase programs to select furniture and electronics retailers across the United States. The company was founded in 2008 and is headquartered in Tampa, Florida. Uown Leasing currently supports dealers operating in over 46 states.
About 777 Partners: 777 Partners is a Miami-based investment firm focused on a broad spectrum of financial services businesses across insurance, lending, specialty finance, and financial technology. Operating in attractive markets and often times esoteric asset classes, 777 seeks to make control investments across the business life cycle in companies with scalable profiles and ambitious management teams. 777 Partners senior management team is composed of industry veterans with backgrounds in private equity, venture capital, investment banking, insurance, financial technology, actuarial science, asset management, structured-credit, ABS, risk, analytics, complex commercial litigation and computer science.