modeFinance, a Trieste, Italy-based company which specializes in the economic-financial valuation of and in the credit risk management of corporations, received a €1.3m investment from Gruppo Corvallis.
Gruppo Corvallis acquired a 43% stake in the company via Corvallis BI (business information), which is controlled by Corvallis Holding.
The funds will allow modeFinance to grow globally.
Created in Trieste-based Area Science Park by Valentino Pediroda and Mattia Ciprian, modeFinance applies Big Data to finance to act as a credit rating agency specialized in making economic-financial and credit risk management valuations of companies.
The company, a spin-off from Trieste University, recently obtained an ESMA (European Securities and Markets Authority) certification to operate as a credit rating agency. It can provide valuations of over 100 miilion companies worldwide processing over 100m balance sheets per year.
All of the assessments are available via the free mobile and web app s-peek.