Fintech start-up Credit Benchmark secures $20m Series B
London-based credit risk data company will expand internationally and invest in its assessment platform
Independent consensus credit risk platform Credit Benchmark has raised $20m in Series B finance in a deal led by Balderton Capital.
Founded in 2012, the London-based financial technology (fintech) start-up anonymously pools data from the world’s largest banks to improve financial market benchmarks and risk assessment analysis.
Following a $7m Series A round led by Index Ventures last year, the fintech business will use the funding to expand its data gathering efforts with global IRB banks, extend its credit risk assessment platform and grow its international team and operations.
The company has also announced its launch in the US, as well as the appointment of ex head of global sales and client services at S&P Capital IQ, Harry Chopra, as its chief commercial officer in New York.
Credit Benchmark CEO, Elly Hardwick, discussed the company’s plans for growth: “This substantial new investment from Balderton and continued support from our partners at Index is powerful validation of our mission – and our ability – to shake up the credit ratings market.
“Every day we see new examples of the value Credit Benchmark consensus data offers. Our team of experts are poised to bring change to a sector ripe for disruption.”
Tim Bunting, general partner at Balderton Capital, said: “Credit Benchmark’s plan to provide transparent credit information on more than 200,000 companies will provide huge value to all market participants. The need for better data has never been higher.
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“The depth and transparency of the Credit Benchmark platform is a great leap forward in the biggest financial market of all. Balderton is very pleased to be joining the Credit Benchmark team.”