Private credit marketplace platform Percent lands $29.7m Series B funding
US-based private credit marketplace platform Percent has secured $29.7 million in a Series B funding round led by White Star Capital.
The round, which brings Percent’s total funding to $48.2 million, also saw participation from existing investor B Capital Group and new investors including Susquehanna Private Equity Investments, BDMI, Forte Ventures, and Vectr Fintech. The company will use the new funding to propel its next phase of growth.
Founded in 2018 and based in New York, Percent provides what it calls a “transparent and data-powered” private capital markets infrastructure for borrowers, underwriters and investors.
The company says its tech powers “the sourcing, structuring, syndication and servicing of private credit transactions from beginning to end” and increases the speed of transactions at a fraction of the cost.
“The global private debt market is massive, and its growth shows no signs of slowing,” says Eddie Lee, general partner at White Star Capital.
“Percent is developing the first ever end-to-end infrastructure solution for the private debt markets, which addresses a massive trillion-dollar market and taps a real need for alternative investment sources across the start-up ecosystem.”