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Business & Technology

Index Leads $7M Round in Banking Benchmark Startup, Credit Benchmark

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Index Leads $7M Round in Banking Benchmark Startup, Credit Benchmark

2014-07-09 08:48:53

London has chalked up another financial technology investment today: Index Ventures has led a $7 million Series A round in Credit Benchmark, a startup that’s looking to improve financial market benchmarks by aggregating anonymized credit risk data from multiple banks. Credit Benchmark describes its system as a “contributed data” model. The data is rigorously anonymized — it says it has created “robust technological, security and legal frameworks for managing contributed data, guaranteeing the confidentiality of individual contributors’ estimates and allowing it to act as a trusted intermediary." The company has so far managed to sign up a dozen global banks in the US, UK and Continental Europe committed to supplying data.

Posted by Samantha Wilson

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