Data Analytics

Cognitive Credit raises £6mn to expand its credit data analytics

Cognitive Credit, the UK-based developer of analytics software for corporate credit markets, is pleased to announce it has closed its latest funding round, a £6mm Series A raise led by Fitch Ventures, the equity investment arm of Fitch Group, with XTX Ventures, the venture capital arm of XTX Markets, Pentech, a venture capital investor in category leading software companies, and several industry insiders also participating. The Company will use the funding to extend its market leadership, growing its team in the UK and entering the US. It expects to launch multiple products across global credit markets in the coming year, and is currently hiring across its engineering, commercial, and data divisions in both regions.

Today the Company counts among its clients the world’s leading investment banks, asset managers, hedge funds, and financial/legal advisory firms. It has experienced significant growth in 2021, as an ever-greater number of credit market participants look to harness technological innovation to gain competitive edge and/or mitigate increased operating costs. Cognitive Credit has raised £10mm in funding to-date to develop machine reading technology and web-based modeling tools custom-designed for credit markets.

At over $10 trillion, corporate credit is one of the world’s largest investment markets, yet credit analysis remains a specialist domain overlooked by the major financial technology providers. Every year institutional investment firms each spend millions searching corporate reports to analyze data essential to their businesses in a process that is time consuming, costly, tedious, and prone to human error.

Since its founding nearly 4 years ago, Cognitive Credit has worked with major buy-side and sell-side firms to develop intuitive, advanced software that relieves investment teams of mundane, repetitive data processing so that they can allocate more time to their highest value-added work. The Company’s innovative, data-driven application combines modern productivity tools, analytical features that enable more efficient and precise corporate credit analysis, and data resulting from proprietary extraction technology that is fast, accurate, and guarantees transparency.

Robert Slater, CEO and Founder of Cognitive Credit, said, “We are thrilled to be adding the resources and expertise of Fitch Group and XTX to the Cognitive Credit mission. Every day we strive to push the boundaries of what technology can do for credit investors, and we see huge opportunities to collaborate with our new strategic partners in this area. We have received phenomenal feedback from clients over the past year, and with this capital raise and near-term additions to the team, we couldn’t be more excited about our global expansion and further product roll-out in 2022.”

Shea Wallon, Managing Director at Fitch Ventures, said, “Cognitive Credit is transforming the way credit market participants access fast moving data and insights to make investment decisions. Its cloud-based platform, powered by robust AI/ML, enables its clients to maximize their analytical capabilities across investment, trading, and advisory businesses. We are excited to be part of Cognitive Credit’s journey as they continue to expand their products and services.” 

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