Wiserfunding and modeFinance launch new credit rating service for SMEs

In what they claim to be a European first, Wiserfunding, the credit risk assessment startup, and modeFinance, the FinTech credit rating agency, have joined forces to launch a new credit rating service for small and medium-sized enterprises.

Fresh out the door, the new service will empower SMEs to show how creditworthy they are to both potential lenders and investors. At the same time, both traditional and alternative lenders will be able to use the tools to prove they’ve considered all risks associated with the assets in their portfolio.

Speaking about the new service, Gabriele Sabato, co-founder and CEO of of British Wiserfunding, believes it will provide a much needed tool for an underserved market. He argued that bigger banks usually fail extend enough credit to smaller firms because they’re riskier and harder to assess than big companies. “Our partnership with modeFinance will democratize access to credit assessment methods usually reserved for large corporates, levelling the playing field for SMEs in the UK,” he added.

Valentino Pediroda, CEO of Italian modeFinance shard this positive sentiment about the two companies’ new tool and highlighted how FintTech offerings have already given SMEs new ways of accessing credit. “With this new bond rating initiative aimed at European SMEs, we are helping a sector that has suffered greatly in recent years while on the hunt for credit to support their growth,” he said.

Wiserfunding was launched in 2016. The company is based in London.

modeFinance first saw the light of day in 2009 and has its headquarters in Trieste.

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