Wiserfunding, a London provider of credit risk assessment for SME lenders, secured a £ 3million investment from BGF and signed Revolut as a client.
Founded in 2016 by Gabriele Sabato and Edward Altman, creator of the Altman Z-score, Wiserfunding has built a proprietary risk assessment platform that uses AI to provide accurate, reliable and unbiased assessment of credit risk. to determine the credit quality of SMEs and private enterprises.
The company says its methodology has been shown to be up to 30% more accurate than that of its competitors, leveraging financial history as well as publicly available structured and unstructured data, including corporate governance, management experience and macroeconomic indicators.
The startup is profitable, with more than 60 clients – bank and non-bank lenders, insurance companies, payment providers and asset managers – on three continents.
Jason Snelling, Head of Corporate Credit at New Client Revolut Business, says: “At Revolut Business, we use the Wiserfunding scoring model to support the risk assessment of our business clients that expose us to credit risk. We also plan to deploy this solution in our underwriting process to speed up decisions going forward. “
The new funding will be used to drive international growth and create new products for the supply chain and purchasing world.
Sabato says: “This investment, combined with BGF’s expertise, will provide strategic support to our global expansion and allow us to support the recovery of SMEs that require on-demand financing. ”