PactFi, a New York-based fintech company focused on solving the pain points of the private credit market, closed its first institutional venture capital funding round of undisclosed amount.
Backers were not disclosed.
The company intends to use the funds to continue to expand operations and its business reach.
Led by co-founder and CEO Emma Zhang, who previously specialized in credit trading, origination and structuring at Deutsche Bank, and co-founder and CTO Alexa Halcomb, who came from Reorg Research, a distressed debt data and analysis company, PactFi provides workflow and data structuring platform which captures transaction data and helps deal managers with product distribution and investment management. Its first focus area is the middle market private credit space.