Bellevue-based Finagraph yesterday announced it has completed a $5 million round of funding led by Moody’s Corporation.
Finagraph, a provider of financial intelligence software, said this round of funding will allow the company to continue building upon recent growth.
“This financing builds on an exceptional year for Finagraph,” said James Walter, CEO of Finagraph. “We’ve added several key clients, are building a world-class team, and have expanded into a new company headquarters. This round of funding will enable us to accelerate product development and expand our reach into North America.”
For financial institutions, accounting firms, and small to medium-sized businesses, Finagraph’s technology helps automate the collection of financial data, providing insight into a business’ financial performance and assess credit risk.
“Moody’s investment in Finagraph underscores the strength and value of its innovative technology platform,” Steve Tulenko, executive director at Moody’s Analytics and a member of Finagraph’s board, said in a press release. “Finagraph’s technology helps power Moody’s Analytics’ recently launched MARQ portal, which helps bankers make better informed, faster lending decisions to serve the growing small and medium-sized enterprise market.”
This recent round of financing brings Finagraph’s total funding to date to $7.1 million.