Percent, the company behind the groundbreaking private credit market platform, has successfully wrapped up an oversubscribed Series B funding round, generating nearly $30m.
This investment, totalling $29.7m, comes from a pool of investors both existing and new. White Star Capital spearheaded the round, with B Capital Group continuing its support for the company. Fresh backers included noteworthy players such as Susquehanna Private Equity Investments LLLP, BDMI, Forte Ventures, and Vectr Fintech. This round sees Percent’s total funding more than double to $48.2m.
Founded in 2018, Percent operates an innovative platform designed to restructure private capital markets. This is achieved by promoting transparency and data-driven infrastructure for this traditionally murky asset class. The platform targets three key market participants: borrowers, underwriters, and investors.
Given the anticipated growth of private debt, set to reach $2.3tn by 2027 according to Preqin, Percent’s platform is poised for success. In light of increased regulatory scrutiny on banks and the growing demand for private credit, Percent is harnessing this momentum. It effectively organises the fragmented private credit market by overseeing all aspects of private credit transactions, from sourcing to servicing. This approach has made Percent’s platform the go-to solution in the volatile market of today.
This newly secured funding is intended to fuel the continuous growth of the company. As the demand for private credit continues to rise, Percent’s aim is to introduce public market efficiencies to the analog-era private debt markets, while addressing their potential growth.
Nelson Chu, founder and CEO of Percent said, “Our vision of building the first ever vertical SaaS solution for an archaic and broken industry is paying off, with equity investors realising the magnitude of what we’ve built and its immense potential.”
This round also included strategic funding from Evolution VC and Global Fintech Venture Partners, further bolstering Percent’s resources and reach.
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