PeerIQ gets major funding from Macquarie - and others

By David Tuckwell on Thursday 3 August 2017

Alternative LendingDigital Banking

The company has completed a $12ml series A, helped by major backers

Data company PeerIQ completes a huge series A. 

Credit data provider PeerIQ has closed a $12 million series A funding round, co-led by Macquarie Group and former Morgan Stanley CEO John Mack.

With the fresh cash PeerIQ will expand its data platform to include traditional lending and improve its real-time credit monitoring and reporting tools, a press release from the company said.

“Since launching our platform in 2015, we’ve seen tremendous growth, expanding our customer base from asset managers to now investment banks, lenders, and ABS investors,” said Ram Ahluwalia, CEO of PeerIQ.

“This investment, along with the strategic support that comes with it, will further extend our platform into those new segments, led by new data offerings, credit facility management, and ABS toolkits.”

As part of the deal PeerIQ will make board seats available to its new investors, with directors from TransUnion and Hearst’s Financial, both of which took part in the series A, joining its board.

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