Weekly Industry Update: Surge in FinTech Financings; PeerIQ Closes Series A

By August 7, 2017Blog

This past week featured a slate of fintech venture financings. Kabbage (Series F: $250M), Dianrong (Series D: $220M), Bread (Series B: $126M), and Juvo (Series B: $40M) all announced major financings.

And last, but not least, PeerIQ announced our $12M Series A round, led by TransUnion, Hearst Financial Venture Fund, and Macquarie Group. It was great to announce the investment—and the major strategic partnerships that come with it; the outreach we received across the fintech landscape was heartfelt and inspiring. And most wanted to know what this means—both for PeerIQ and the industry.

For PeerIQ, it means continuing to execute upon the vision we shared at our seed financing just over two years ago. This fall, we will be launching our first products uniting TransUnion’s dataset with the PeerIQ analytics platform. The initial offerings including credit performance trends, modeling archives, benchmarking analysis, and regulatory compliance tools. (These are offerings we are demoing already for clients; if interested in learning more, please let us know.)

Along with its investment, Hearst brings several major holding companies, including auto data provider, BlackBook, and Fitch Ratings, the global ratings provider, which opens up many new value propositions for our customers. Finally, we are working hand in hand with Macquarie, a major provider of capital to the fintech space, to improve tools for warehouse lenders and their borrowers alike.

For the industry, it’s notable that we’ve established a foundation of key partners that share and can accelerate our ultimate vision: the transparent, liquid, and efficient financing of consumer credit via the capital markets. Certainly this is just the beginning. The prevailing risk infrastructure linking lending to the capital markets has not changed in decades. There is much we can do to apply loan-level analytics, modern data science, and technology to strengthen markets and investor confidence.

We are grateful and appreciative for all of the tremendous support!

PeerIQ in the News:

Industry Update:

Lighter Fare:

  • Reinforcement Learning (MITTechnology Review, 8/5/17) By experimenting, computers are figuring out how to do things that no programmer could teach them.