PeerIQ nabs $2.5m for peer-to-peer risk analysis

PeerIQ, a financial information service startup aimed at the peer-to-peer lending market, has raised $2.5m in a round of seed funding.

The capital comes from Victory Park Capital, Fenway Summer Ventures, Uprising and angel investors, including Morgan Stanley Chairman and CEO Joch Mack.

The New York-based startup aims to connect peer-to-peer lending companies with capital markets by providing institutional investors with the tools to analyse opportunities and manage risk in the space.

PeerIQ says the capital will be used to further develop its risk analysis platform, grow its institutional investors client base and expand its tech and client delivery teams.

“Despite the rapid growth in both P2P loan origination and institutional participation in this market, there are few providers of advanced risk management and reporting solutions,” said Philip Nanney, VP of Victory Park Capital.

“As the market continues to grow and mature, we believe many asset managers will require tailored risk analytics in the P2P space, and we are excited to support PeerIQ in meeting this market demand.”

PeerIQ says the round is an extension of the $6m seed round it raised in April and takes its total funding to more than $8.5m.

Copyright © 2016 FINTECH GLOBAL

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