Credit solution platform Cortera raises $10m in its Series B

Cortera, which provides credit data solutions, has raised $10m in its Series B which was led by Hearst Fitch Group Financial Venture Fund.

Existing backers Volition Capital, Battery Ventures, Allen & Company and Tomorrow Ventures, were among the other investors to the round.

As part of the transaction, Hearst Fitch managing director Shea Wallon will join Cortera board of directors.

Florida-based Cortera provides clients with analytical insights into the purchase and payment behaviour of private and public companies. The platform utilises behavioural modelling, predictive risk scores and proactive monitoring.

Features include infographics, self-service batch appends, robust APIs and real-time scorecard wizards to simplify information.

The company exchange is fuelled by more than $1.3trn in annual B2B transactions across 20 million US business transaction. Through this it can provide private companies with deep insights into risk implications in 45 segments.

This equity injection will be used to support the expansion of the platform.

Cortera CEO Jim Swift said, ?We are passionate about fuelling profitable business growth in the US. For too long, the flow of capital has been hamstrung by the need for more complete and timely insights into private companies. It is exciting to be at a point of network coverage where businesses now have a powerful alternative to traditional sources.p>

Earlier in the year, Fitch Group acquired finance and distressed debt analysis platform Fulcrum Financial Data.

Copyright ? 2018 FinTech Global

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