RapidRatings nets $30m in growth funding from FTV Capital

Financial health analytics platform RapidRatings has received a $30m growth investment from FTV Capital.

As part of the deal, FTV Capital partner Kyle Griswold will join the RapidRatings board of directors. LLR Partners will continue to hold a share in the company.

RapidRatings is a financial health platform that helps companies to understand the wellbeing of their third parties including suppliers, customers, underwriting counterparties, borrowers and investors. The platform uses algorithms to generate detailed analysis and actionable insights based on the data from a business’ customers and third parties.

Through this, companies are able to give risk, procurement and credit professionals better transparency, build stronger and more resilient third-party relationships, and to make business decisions with better and consistent outcomes.

In line with the company’s roadmap, RapidRatings will look to use this capital to support its growth, develop its technology, and increase its strategic partners.

FTV Capital partner Kyle Griswold said, “RapidRatings’ unique approach and proprietary platform is solving a massive pain point, especially as credit, supply chain and third-party risk management requirements grow in complexity. Business disruptions, regulatory pressure and consolidation of supply chains, for example, are driving the heightened importance of counterparty risk management across industries.

“Many of the financial institutions in FTV’s Global Partner Network rely on RapidRatings’ Financial Health Ratings to assess company risk because of the sophisticated rigor and reliability of the FHR solution and the consistently high-quality service provided by the company.”

Earlier in the year, FTV Capital made a $54.5m investment into the cybersecurity and regulatory compliance provider A-LIGN. The company provides assessments, audits and cyber risk advisory and testing services for companies ranging from small-medium sized businesses to large enterprises.

Copyright © 2018 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research

Investors

The following investor(s) were tagged in this article.