Percent, the pioneering platform revolutionizing the private credit marketplace, announced today the successful closure of its Series B funding round, raising $29.7 million. This latest funding round, which more than doubles the company’s total funding to $48.2 million, was led by White Star Capital. Existing investors such as B Capital Group also participated, along with notable new investors including Susquehanna Private Equity Investments LLLP, BDMI, Forte Ventures, and Vectr Fintech.
The oversubscribed round highlights the tremendous demand for Percent’s platform, its rapid success, and the confidence of investors in its future.
Private credit is experiencing unprecedented demand, with Preqin forecasting the sector to grow to $2.3 trillion by 2027. Recent bank failures and increased regulatory scrutiny have further propelled the demand for private credit, reminiscent of the surge seen after the global financial crisis in 2007. This favorable market environment has positioned Percent to thrive. By providing a transparent and data-powered infrastructure, Percent has disrupted the historically opaque private capital markets, benefiting borrowers, underwriters, and investors alike.
Percent’s approach introduces public market efficiencies to the traditional private debt markets, streamlining the sourcing, structuring, syndication, and servicing of private credit transactions. The platform brings organization and accessibility to a fragmented market, meeting the rising popularity of private credit and establishing Percent as the go-to solution in today’s volatile market.
Nelson Chu, founder and CEO of Percent, expressed his satisfaction with the progress made, stating, “Our vision of building the first-ever vertical SaaS solution for an archaic and broken industry is paying off, with equity investors realizing the magnitude of what we’ve built and its immense potential.” Chu emphasized the significance of recent financial and startup events, which have thrust private credit into the spotlight.
As equity becomes scarce, debt emerges as a compelling option for all market participants, highlighting the value proposition of private credit. Chu expressed gratitude for the confidence and support of both existing and new strategic partners, viewing this funding round as a testament to the momentum and opportunity that lie ahead for Percent.
Eddie Lee, General Partner at White Star Capital, acknowledged the vast size and continued growth of the global private debt market. He commended Percent’s development of an end-to-end infrastructure solution for this trillion-dollar market, addressing the pressing need for alternative investment sources across the startup ecosystem. White Star Capital, as the lead investor in this round, is excited to continue supporting Nelson Chu and his team, alongside other excellent new investors, providing Percent with a strategic advantage as it enters its next phase of growth.
The funding round also included participation from strategic investors such as Evolution VC and Global Fintech Venture Partners, further solidifying Percent’s position as a key player in the private credit market.
With this substantial funding injection, Percent is well-positioned to meet the increasing demand for its innovative platform, shaping the future of private credit and offering alternative investment opportunities across the startup landscape.
