10 years ago

Credit Benchmark Raises $20 Million for its Consensus Credit Risk Platform

  • Credit Benchmark, a London-based fintech startup, has raised $20 million in Series B funding led by Balderton Capital

  • The company is building a platform to improve financial market benchmarks and risk assessment analysis by aggregating anonymized credit risk data from multiple banks

  • The new funding will be used to expand its data gathering efforts, extend its credit risk assessment platform, and grow its international team and presence

  • The company also announced the formal launch of its U.S

  • presence, with the appointment of Harry Chopra as its chief commercial officer

  • Credit Benchmark has been working on its platform for a year and has now launched its commercial service, which will provide risk assessment data on various entities that are not assessed by traditional credit risk sources.

      • ProblemFinancial Services

      "Traditional credit risk assessment models are limited in their coverage and often outdated, leading to inaccurate and incomplete risk assessments. This can make it difficult for investors and lenders to make informed decisions, particularly when dealing with unrated entities such as sovereigns, hedge funds, and unrated public and private companies."

      Solution

      "Credit Benchmark's platform aggregates anonymized credit risk data from multiple banks to build up consensus data, providing a more precise and up-to-date model for credit risk assessment. This allows for more comprehensive and accurate assessments of a wider range of entities, including those not typically covered by traditional credit rating agencies."

      Covered on