ThinkFinance Lays off 15% Workforce – 20 Employees

ThinkFinance – TFHoldings.inc the Texas-based company that provides software capability for online lenders has announced to cut 15% of its Workforce.

We hear firsthand from one of the impacted employees that the company is letting go of 20 employees as part of these layoffs.

Think Finance was recently hit by a $44.53mn class action lawsuit for unfair lending practices, where the company agreed to settle the claims. The company had a settlement in 2021 for $57 million with Debt cancellations and cash payments.

TF Holdings, Inc., through its subsidiary companies provides credit and financial wellness tools to consumers, and licenses loan origination, risk underwriting and loan management software to lenders. The company’s businesses serve consumers and lenders with a portfolio of innovative products, including Jora Credit, Echo Credit, Rely Credit, Thinkflow, iQ Decision Engine and the Cortex loan management platform. TF Holdings, Inc. is based in Irving, Texas.

Layoffstracker has reached out to TFholdings.inc for confirmation of the layoffs and we haven’t received any comments as of this article.