Company Information

Get to know Elektra USA

Grupo Elektra is a major Latin American corporation founded in 1950, with two primary divisions: commercial (retail) and financial services. Its U.S. presence, commonly referred to as Elektra USA, is focused exclusively on financial services through its wholly-owned subsidiary, Purpose Financial, Inc. (formerly Advance America). Purpose Financial is one of the largest non-bank providers of short-term credit and other financial services in the United States, offering payday loans, installment loans, title loans, and check-cashing services to consumers through a network of physical stores and online platforms under various brand names.

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Elektra USA

United States

Founded in

2019 (7 Years)

Founded

Last online: No recent activity

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BridgerPay

(180 reviews)

Cyprus

2017

(9 years)

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.