$7m Series A Financing Completed

Credit Benchmark, an innovative financial technology company founded by serial entrepreneurs Mark Faulkner and Donal Smith, announces today that it has raised $7m in a Series A financing round led by Index Ventures to accelerate its development of a new data source in the $6bn credit risk information market.

Today also marks the launch of Credit Benchmark’s commercial service for banks. Following completion of a proof of concept, a dozen global banks in the US, UK and Continental Europe have already committed to contribute their data, with more set to follow.

Credit Benchmark unlocks an immense untapped resource in institutional credit risk: internal estimates from the world’s largest banks. Produced by highly skilled analysts using models validated by regulators, these estimates represent the views of qualified market participants with “real skin in the game.” Credit Benchmark, for the first time, transforms the value of these estimates by anonymizing and aggregating them to create precise and dynamic consensus views.

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