Finagraph, a Seattle, WA-based provider of automated financial data collection and business intelligence solutions, received an investment from Moody’s Corporation (NYSE:MCO).
Under the terms of the investment, whose amount was not disclosed, Moody’s will gain a minority ownership stake in Finagraph and will receive a seat on its board of directors.
The company will use the proceeds to further develop its technology and drive product adoption among both SMEs and small business lenders.
In partnership with Finagraph, Moody’s expects to broaden its offering of credit risk solutions covering SMEs, including Moody’s Analytics Lending Cloud software and default risk models.
Founded in 2011, Finagraph integrates directly with widely-used accounting software to automate the collection of financials and allow banks to analyze this data to gain insight into borrowers’ financial performance and assess credit risk.
FinSMEs
26/02/2016