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.
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.