Percent is looking to digitize the analog world of private credit. Here's the 18-page pitch deck it used to raise a $30 million Series B.
It supports borrowers, investors, and underwriters with its software solution.This startup is building a digital solution for the historically analog world of private credit.
Examples of private credit include student loans taken from outside the government, small-business loans, and consumer loans. It is a $1.2 trillion market as of October 2022, according toPercent handles everything from finding the borrowers , setting the terms to the loan , finding and dividing the loan across investors , monitoring the loan after it's been issued , and distributing the money back to investors on behalf of the borrower .
The minimum investment on Percent is $500 and the shortest investment period is one to three months. The startup's average investment syndicated on the platform is $2 million, according to Chu. "The beauty of private credit and credit in general is that the complexity and the work required to do a $500,000 deal is the same as a $500 million deal," Chu said."If you solve the workflow once you solve it for the entire stack."
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