PeerIQ Raises $12 Million

Tech startup PeerIQ announced the close of $12 million in Series A financing. TransUnion, Hearst Ventures, Macquarie, and Uprising participated in the funding.

PeerIQ is a New York-based financial information services company that is creating tools to analyze, access, and manage risk in the peer-to-peer lending sector. The company pools detailed loan data to provide authoritative, independent analytics and benchmarks that institutional clients use to price instruments, value loan portfolios, develop investment views, and manage risk. PeerIQ’s goal is to strengthen the P2P lending sector by increasing transparency, enabling efficient risk management, and providing analytics that support better investment decision-making.

According to the company, it intends to use the funds to expand its core platform, extend into traditional as well as online lending markets, and collaborate on new product initiatives with strategic partners.