Credit Benchmark Gets Further $20M For Its Consensus Credit Risk Platform
TechCrunch: A year on from an Index Ventures-led $7M Series A, London-based fintech startup Credit Benchmark has extended its runway with a $20M Series B. The startup is building a platform aimed at improving financial market benchmarks and risk assessment analysis by aggregating anonymized credit risk data from multiple banks to build up consensus data.
Credit Benchmark’s new financing is led by Balderton Capital. Tim Bunting, general partner at Balderton, has joined its board of directors. Existing investor Index also participated in the round. The new funding will be used to expand its data gathering efforts with global IRB banks, extend its credit risk assessment platform and grow its international team and presence, it said today. “Staffing up is very important – data scientists, and customer-facing people are really where the focus is,” a spokeswoman told TechCrunch.
On the international expansion front, it announced the formal launch of its U.S. presence today (and the appointment of ex head of global sales and client services at S&P Capital IQ, Harry Chopra, as its a chief commercial officer there), although it already had a New York-based team. Chopra’s brief is to bring more banks on board and feeding data into the platform.