Finagraph Completes Financing Round Led by Moody’s Corporation
November 29 2016 - 10:30AM
Business Wire
Finagraph, The Financial Data Engine, announced today that it
has completed a $5 million financing round.
Led by a new investment from Moody’s Corporation (NYSE:MCO),
Finagraph will use this financing to accelerate product development
and expand its market reach in North America.
“Harnessing the power of technology to automate the exchange of
financial information between parties is transformative. Finagraph
streamlines the data collection process by replacing weeks of
back-and-forth emails and phone calls with the click of a button,
instantly transferring financial and credit information,” said
James Walter, Chief Executive Officer for Finagraph.
Founded in 2011, Finagraph offers innovations that automate the
collection of financial data by integrating directly with widely
used accounting software. Finagraph’s solutions provide
insight into a business’s financial performance and assess credit
risk.
This financing builds on an exceptional year for Finagraph,
which included a rapidly growing roster of clients, key executive
appointments, and expansion into a new company headquarters.
“Moody’s investment in Finagraph underscores the strength and
value of its innovative technology platform,” said Steve Tulenko,
Executive Director at Moody’s Analytics and a member of Finagraph’s
board. “Finagraph’s technology helps power Moody’s Analytics
recently launched MARQ portal, which helps bankers make better
informed, faster lending decisions to serve the growing small and
medium-sized enterprise market.”
This round of financing includes a follow-on from an investment
earlier this year by Moody’s, as well as funding from other
investors.
ABOUT FINAGRAPH
Seattle-based Finagraph collects, processes, and analyzes
financial data from small businesses with unparalleled accuracy, at
the speed of fintech. This streamlined workflow replaces the
traditional paperwork process, adding instant intelligence to best
understand a business’s financial health and trends. To learn more,
visit www.finagraph.com.
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FinagraphHeidi Ob’bayi, 206-922-4502 X708DirectorMarketing &
Communicationsheidi@finagraph.com
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