Finagraph picks up $5m for SME risk data

Financial data startup Finagraph has raised $5m in round led by Moody’s Corporation the parent company of Moody’s Investors Service and Moody’s Analytics.

The Seattle-based company offer a software platform that enables lenders, accountants, consultants and business owners to access a company’s data for risk assessment.

It does this by linking directly into accounting systems to offer visualisation and performance indicators.

Founded in 2010 the company previously received an investment form Moody’s and helps to power the firm’s MARQ product that sits within Moody’s Analytics.

Moody’s Analytics’s senior director Nancy Michael highlighted the challenge Finagraph is attempting to overcome at the time of MARQ’s launch saying: “The difficulty of accessing small business financial information makes lending to this segment inefficient, inconsistent, and expensive.”

The new round takes its total funding to $7.1m and will be used to further develop the platform.

Copyright © 2016 FINTECH GLOBAL

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