Index leads $7m round for Credit Benchmark

The funding will be used by Credit Benchmark to further develop its new data source in the credit risk information industry, a market the company says is worth $6bn.

Credit Benchmark has also announced the launch of its commercial service for banks. The company claims that a dozen banks in the US, UK and continental Europe are already committed to contributing their data.

The company will also use the funds to increase its headcount by 30 and bolster its presence in the US. The firm is set to open a New York office later this year.

Company
Founded in 2012 and headquartered in London, Credit Benchmark is developing a contributed data model that gathers credit risk information from major banks.

Credit Benchmark's product is designed to gather internal estimates produced by analysts for institutions. The company anonymises the estimates, then analyses and aggregates the data to produce consensus views.

People
Elly Hardwick is the CEO of Credit Benchmark. The company was founded by Mark Faulkner and Donal Smith. Jan Hammer is a partner at Index.

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