Argyle lands $55m to transform credit decisioning

Argyle, an employment data platform that provides companies access to employment records, has raised $55m in Series B funding.

The round was led by SignalFire with participation from current investors including Bain Capital Ventures, Bedrock, and Checkr.

Argyle said it is transforming credit decisioning. The company believes consumers should not be evaluated on a single opaquely derived number, namely, the credit score. Instead, the company enables business customers to make decisions based on income verification and employment data that is real-time, user-permissioned, and equitable for all working individuals, not just full-time employees

Following Argyle’s $22.6m in prior funding, the company said the additional capital will be used to accelerate the growth of its in-house engineering team, fuel international expansion, and scale the company’s go-to-market operations.

Shmulik Fishman, founder and CEO of Argyle, said, “Workforce dynamics have evolved and it’s time to disrupt the status quo. While Equifax blazed trails in the employment data industry, the landscape has changed forever. It requires a dramatically different approach to employment data. It must be user-permissioned. It must be real-time. And it must be fair.

“Argyle is innovating technology solutions that meet these criteria to provide equitable access to financial services and products to today’s workers. It’s been our fastest year of growth to date as we’ve been turning our mission into reality. Adoption of our platform continues to exceed our expectations because consumers, financial institutions, and employers are eager for an alternative or supplement to static and incomplete data from legacy systems.”

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