By: David Fisher, CEO
May 30, 2014
Yesterday, we celebrated our 10th Anniversary with a companywide celebration including food, beverages, and raffle items that correlated with major business developments over the past decade.
We’ve come a long way since 2004, when two brothers founded a company called Check Giant. Today, Enova has seven products in four countries, and we are 1,200 employees strong. To help commemorate our 10th anniversary, here’s a look back at some of our major business milestones throughout the years:
- 2004 – Two brothers founded Enova under the name Check Giant. By the end of the year, the business was renamed CashNetUSA and provided short-term loan services in 10 states.
- 2005 – CashNetUSA turned profitable only 11 months after inception. Our technology was upgraded to a cutting-edge platform using Ruby on Rails, and we doubled our reach to 20 states.
- 2006 – Cash America acquired CashNetUSA, and we become part of a publicly traded company. Our online lending process evolved with a real-time decision-making model. We also became a member of the Community Financial Services Association and grew our reach to 30 states.
- 2007 – We launched QuickQuid in the U.K. and co-founded the Consumer Finance Association. We also made our 3 millionth loan transaction.
- 2008 – CashNetUSA joined CIFAS, the U.K’s fraud prevention service – becoming the first admitted institution to be headquartered outside of the EU.
- 2009 – Our services expanded to Canada and Australia, and CashNetUSA began offering installment loans in select states. CashNetUSA, QuickQuid and both DollarsDirect brands collectively became Enova Financial.
- 2010 – Enova was recognized for exceptional customer service as a Stevie Award finalist. U.K. installment loan company Pounds to pocket was founded, and CashNetUSA began offering lines of credit in certain states.
- 2011 – Enova Financial became Enova. We operated in five countries, providing single-pay loans, installment loans and other credit services to 2 million customers.
- 2012 – Enova launched the U.S. installment brand NetCredit, offering our highest-ever loan amounts.
- 2013 – This is the year I joined Enova as CEO. We set out on a new path to diversify our product portfolio and celebrated 3 million customers served.
We certainly have a lot to remember and a lot to celebrate, but more importantly, we have a lot to look forward to. Our passionate, dedicated and talented team members have enabled our growth as a company over the past ten years and will continue to push us forward. Here’s to another successful decade for Enova.