AltFi Data announces appointments to advisory board and completion of funding round

Published on August 21, 2017

AltFi Data has today announced that it has closed a significant equity funding round and has appointed two new investors to an advisory board.

Advisory Board

Roger Spooner and Peter Wilson will join Michael Baptista, an existing member of the executive board, on a newly established ‘advisory board’. This board will serve to provide assistance, insight, and expertise, as the company attempts to become further established as the standard for performance verification in the tech enabled finance sector.

Michael Baptista began his career as a banking sector equity research analyst. He recently founded Assembly Capital Advisors, a Fin Tech specialist VC firm, and prior to that held a number of head of department and ExCo roles at investment banks in both Europe and Asia including Credit Suisse, UniCredit, ABN Amro and RBS.

 

Roger Spooner is a financial sales consultant working in the capital markets fin tech sector. Prior to this Roger worked for a number of investment banks in London and New York including CIBC, UBS, Daiwa, and West LB. Most recently he was a member of the management committee at Markit where he was head of global client management.sp;

 

Peter Wilson has over 20 years’ experience as a private equity investor having been a founder director of Electra Partners Europe and a Partner at Warburg Pincus. Until stepping down in April 2016 he was the inaugural CEO of British Business Bank Investments where he was responsible for £1.5bn of UK Investment in UK SME’s, including some of the earliest institutional investments made to fuel growth of the UK marketplace lending sector.

 

Equity Funding Round

The company has also announced that it has raised new equity funding that is expected to see the firm to break even and allow the company to satisfy a reported ‘tipping point’ in institutional demand for marketplace lending assets. Alongside Peter Wilson and Roger Spooner new investors include a European family office, an institutional client of AltFi Data’s analytics services, a European real estate entrepreneur and a number of high net worth individuals with networks and expertise relevant to AltFi Data.

Rupert Taylor – Founder and CEO of AltFi Data – commented:

“Institutional Investors are being attracted to this asset class by a track record that is now impossible to ignore: 5%+ net returns, un-levered, for a 2-3 year term is unrivalled in established capital markets. Furthermore, third party verified disclosure is allowing the industrialisation of the due diligence and monitoring process.”

He continued:

“Investors need to be able to appraise lending performance, using consistent metrics, that allow a like for like comparison of both risk and return. They also need to know that they will be able to monitor, value, and risk assess portfolios of assets going forwards. But perhaps most importantly they need to be assured that their originator partners are as motivated by quality of lending as they are. Standardised, third party verified, disclosure can solve all of these challenges. It facilitates due diligence, provides the benchmarks for effective risk management and robust valuations, and enhances the reputational ‘skin in the game’ that creates alignment between originator and investor.”

Mr. Wilson commented:

As an early institutional investor in the emerging tech enabled lending space I saw first-hand the need for objective and consistent data to support investment diligence and portfolio monitoring.  As the clear UK market leader in such data AltFi Data plays a key role in supporting the continued development of the alternative lending sector.”

Mr. Spooner confirmed:

Marketplace lending is an asset class which will attract increasing institutional investment. This growth will depend on high quality, independent, data, valuations and benchmarks. AltFi Data is already established as the reference data set by many market participants and I am very excited about the chance to work with the company to deliver on a very significant opportunity.”

Samir Desai, Co-founder and CEO of Funding Circle, observed:

“AltFi Data is an important part of the fast growing direct lending environment, providing market leading tools and analytics to investors on platforms. We are pleased to see the business go from strength to strength, and look forward to seeing the new products.”