Percent raises $12.5M Series A to develop more efficient alternative investment markets
Summary
With a new fundraising round, Percent will accelerate the development of the companys infrastructure to help convert a pipeline of over 250 data-driven originators and $2 billion in pending transaction volume. "Success for us will be measured in how fast we can source, structure, syndicate, and surveil the assets of our originators," says Prath Reddy, President of Percent. "The private credit market has grown rapidly even without strong infrastructure or an established category leader," said Karen Page, General Partner at B Capital Group. Oliver Wriedt, former Co-CEO of CIFC, and Navtej S. Nandra, former President of E*Trade, both of whom participated in prior fundraising rounds, also serve on the companys Board of Directors. Founded in 2018, Percent is creating the first ever efficient market for private credit, facilitating a higher velocity of transactions at a fraction of the cost.