Cognitive Credit secures £7.6m Series B funding led by ETFS Capital to expand product capabilities
ETFS Capital led the Series B financing, with participation from XTX Ventures, to support international expansion and product development.
Cognitive Credit provides specialist data and analytics software designed for corporate credit markets. The firm delivers automated credit models and workflow tools for institutional investors.
Cognitive Credit has secured £7.6m in a Series B funding round led by ETFS Capital. Existing backer XTX Ventures also participated in the raise. The fresh capital will be deployed to expand into new markets and advance the firm's product offering, with particular focus on algorithmic debt valuation and artificial intelligence solutions for institutional clients.
The latest financing brings the total capital raised by the company to $25m. Since closing its Series A round in late 2021, Cognitive Credit has scaled its client base fourfold, doubled its internal headcount, and increased annual recurring revenue more than seven times over amid growing demand for structured data in corporate credit.
From the founder
"With the digital evolution of credit now inevitable, we are pleased to have ETFS join our team given their deep experience in capital markets innovation. Building the best-in-class dataset for one of the world's largest asset classes remains an ambitious task, and we are excited about the opportunities ahead of us."
Robert Slater
CEO and Founder at Cognitive Credit
Investor perspective
"As global credit markets expand and increasingly transition to electronic trading, data and automation plays a crucial role for investors. Cognitive Credit's software has best-in-class proprietary data collection capabilities and presents this data in a web-based application which boasts an exceptional suite of functionality. This positions Cognitive Credit as an essential tool for credit investors. The Company's impressive growth to date underscores its potential, especially as it broadens its reach into additional fixed-income sub-categories and further enhances its platform's capabilities and product offering."
Martyn James
Managing Partner, ETFS Capital
Use of funds
- 01Expand into international markets
- 02Continue product development
- 03Fund research and development
Investors
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About the company
Cognitive Credit
Cognitive Credit builds data and analytics software for corporate credit markets.