Company Beats Revenue Expectations as Private Credit Continues to Heat Up; Funding Raised Will Help Fuel Continued Growth
Percent, the innovative platform that has created the modern credit marketplace, announced the successful close of a $29.7 million Series B funding round, more than doubling the company’s total funding, which now sits at $48.2 million.
Latest Fintech Interview: Global Fintech Interview with Peter Barcak, CEO and Co-Founder at credolab
“The global private debt market is massive, and its growth shows no signs of slowing. Percent is developing the first ever end-to-end infrastructure solution for the private debt markets, which addresses a massive trillion-dollar market and taps a real need for alternative investment sources across the startup ecosystem”
The round was led by White Star Capital, with participation from existing investors such as B Capital Group, and notable new investors, including Susquehanna Private Equity Investments LLLP, BDMI, Forte Ventures, and Vectr Fintech. In addition to being oversubscribed, this latest funding round is evidence of the incredible demand for Percent’s platform, its growing success and the confidence of investors in its future. Percent has disrupted private capital markets by providing a transparent and data-powered infrastructure for the historically opaque asset class for borrowers, underwriters and investors.
Private credit has never been more in demand. Preqin forecasts that private debt will continue to grow to $2.3 trillion by 2027. With the recent bank failures drawing even more regulatory scrutiny, demand for private credit has surged once again, similar to what happened after the global financial crisis of 2007. These have all acted as positive tailwinds for Percent and the industry at large. Percent’s approach brings novel public market efficiencies to the analog-era private debt markets at a pressing time. By powering the sourcing, structuring, syndication and servicing of private credit transactions from beginning to end, Percent organizes the fragmented market, bringing understanding and access through its platform. As private credit’s popularity continues to rise, demand has positioned Percent’s platform as the go-to solution in today’s volatile market.
Read More About Fintech Interview: Global Fintech Interview with Brian Duncan, President at me&u
“Our vision of building the first ever vertical SaaS solution for an archaic and broken industry is paying off, with equity investors realizing the magnitude of what we’ve built and its immense potential,” said Nelson Chu, founder and CEO of Percent. “Recent events in the financial and startup world have pushed private credit into the spotlight. In this new normal, equity is hard to come by, and debt can be the best option for all market participants – borrowers, investors and underwriters, illustrating private credit’s value proposition. We’re grateful for our core and new strategic partners’ confidence and support, and believe this funding underscores our momentum and opportunity.”
“The global private debt market is massive, and its growth shows no signs of slowing. Percent is developing the first ever end-to-end infrastructure solution for the private debt markets, which addresses a massive trillion-dollar market and taps a real need for alternative investment sources across the startup ecosystem,” said Eddie Lee, General Partner at White Star Capital. “We’re really excited to continue backing Nelson and his team as the lead investor in this latest round, that includes some excellent new investors, which will provide Percent with a strategic edge in their next stage of growth.”
Browse The Complete Interview About Fintech : Global Fintech Interview with Greg Oslan, CEO at Arturo
[To share your insights with us, please write to sghosh@martechseries.com]
