Key Takeaways
- • Transparency Analytics, a financial benchmarking company focused on private credit, completed its second funding round led by Deciens Capital, according to a Business Wire announcement.
- • Financial terms of the private transaction were not disclosed.
- • Participants include Allianz Life Ventures, Mouro Capital, FJ Labs, SUM Ventures, and Core Innovation Capital.
- • The company provides corporate credit ratings to institutional lenders managing more than $1 billion of credit assets and is pursuing NRSRO designation from the SEC.
- • Proceeds will fund scaling of its technology platform, go-to-market refinement, and development of a private credit index.
Summary
Transparency Analytics, a New York-based financial benchmarking business focused on private credit, has completed its second funding round led by Deciens Capital, the company announced via Business Wire. Allianz Life Ventures, the corporate venture arm of Allianz Life Insurance Company of North America; Mouro Capital; FJ Labs; SUM Ventures; and Core Innovation Capital also participated. Financial terms of the private transaction were not disclosed.
The company, founded in 2024 by a team combining Wall Street analytics and Silicon Valley engineering, offers a quantitative, model-based approach to corporate credit ratings that it describes as fully transparent. Its real-time indicative ratings portal provides rapid feedback on a company's credit standing. Transparency Analytics currently rates a range of debt structures, including credit tenant leases and project finance, for institutional lenders managing more than $1 billion of credit assets.
CEO Michael Brawer said the company aims to provide highly transparent ratings amid heightened market concern about elevated risk in largely illiquid private credit debt. The company cites expected growth of private credit to $3.5 trillion by 2028 as underscoring the need for consistent measurement and pricing of risk across capital providers, managers, borrowers, regulators, and insurers.
Daniel Kimerling, Founder and Managing Partner at Deciens Capital, said the firm believes the company can digitally transform the traditional credit ratings process. Jeff Weinstein, Partner at FJ Labs, and Chris Gottschalk, General Partner at Mouro Capital, also commented on the round; Mouro participated in the first funding round and said the company is working toward NRSRO designation with the Securities and Exchange Commission.
Proceeds will be used to scale the technology-enabled platform, refine go-to-market strategies, and develop financial benchmarking products, including a planned private credit index.
The company, founded in 2024 by a team combining Wall Street analytics and Silicon Valley engineering, offers a quantitative, model-based approach to corporate credit ratings that it describes as fully transparent. Its real-time indicative ratings portal provides rapid feedback on a company's credit standing. Transparency Analytics currently rates a range of debt structures, including credit tenant leases and project finance, for institutional lenders managing more than $1 billion of credit assets.
CEO Michael Brawer said the company aims to provide highly transparent ratings amid heightened market concern about elevated risk in largely illiquid private credit debt. The company cites expected growth of private credit to $3.5 trillion by 2028 as underscoring the need for consistent measurement and pricing of risk across capital providers, managers, borrowers, regulators, and insurers.
Daniel Kimerling, Founder and Managing Partner at Deciens Capital, said the firm believes the company can digitally transform the traditional credit ratings process. Jeff Weinstein, Partner at FJ Labs, and Chris Gottschalk, General Partner at Mouro Capital, also commented on the round; Mouro participated in the first funding round and said the company is working toward NRSRO designation with the Securities and Exchange Commission.
Proceeds will be used to scale the technology-enabled platform, refine go-to-market strategies, and develop financial benchmarking products, including a planned private credit index.
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