American Banker, by Kevin Wack (Sep. 15, 2015)
PeerIQ, which provides data to firms that invest in marketplace loans, has raised $2.5 million in early-stage financing.
The New York-based startup said in a press release Monday that it plans to use the funding to accelerate its core growth initiatives.
Those efforts include adding new features to the firm’s platform, which allows institutional investors to analyze and manage risk in marketplace loans. PeerIQ also plans to use the funding to add staff and market its services to new customers.
New investors in PeerIQ include the private-equity firm Victory Park Capital and Fenway Summer Ventures, which is headed by Raj Date, the Consumer Financial Protection Bureau’s former deputy director. Also participating in the funding round was John Mack, the former Morgan Stanley chief executive officer.
PeerIQ was founded in 2014. Mack, former Citigroup CEO Vikram Pandit and Arthur Levitt, the former chairman of the Securities and Exchange Commission, were among the investors in an earlier $6 million funding round that PeerIQ announced in April 2015.
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