PeerIQ, a New York-based provider of data and analytics for the lending sector, closed a $12m Series A funding.
The round was co-led by TransUnion, Hearst’s Financial Venture Fund and Macquarie Group, along with existing investors Uprising and former Morgan Stanley CEO John Mack. In conjunction with the funding, Steve Chaouki, executive vice president and head of TransUnion’s financial services business unit, and Shea Wallon, managing director of Hearst’s Financial Venture Fund, joined the PeerIQ board.
The company intends to use the funds to expand its core platform, extend beyond online into traditional lending markets, and collaborate on new product initiatives with its strategic partners.
Led by Ram Ahluwalia, Founder and CEO, PeerIQ provides a data and analytics platform that streamlines workflows across the consumer credit funding cycle –
from whole loans to credit facilities to ABS – offering transparency, data validation, and loan-level credit analytics to enable parties to transact with confidence and secure movement of capital into the lending markets.