Monday, 22 October 2018

Credit Benchmark gets some money!

Yes, yes. Another firm has got its greasy mitts on some money! That's all right, ain't it? I take my hat off to them. 'How much, boss?' Er, hang on ... $7 million, it says here. 'Where?!' Christ! It's a PR email. Here -

New York - October 18, 2018 - Credit Benchmark, the leader in consensus based credit analytics, has announced plans to expand its offerings and scale its contributed data model, solidifying its standing as the largest source of credit risk data for rated and un-rated entities. The expansion will be fueled by a $7 million investment led by Index Ventures, Balderton Capital, Communitas Capital and a group of private investors that includes former Goldman Sachs Vice Chairman and the co-chief executive officer of Goldman Sachs International Michael Sherwood. Mr. Sherwood will also join the Credit Benchmark Board of Directors.

Okay, okay. Rated and un-rated entities? Whatever! / Let's hear more about the company ...

Having grown rapidly since publishing its first credit risk views in 2015, Credit Benchmark is the first financial data company to provide consensus credit risk estimates on a global range of corporates, sovereigns, financial institutions, and funds. The company draws its credit risk insights from a contributed data model that harnesses the collective intelligence of the world's leading financial institutions. Now receiving contributed credit risk and probability of default data from a collection more than 30 of the world's top financial institutions - a list that includes all of the largest banks in North America and the UK - Credit Benchmark is now publishing credit risk views on roughly 22,000 counterparties, the largest and most unique coverage globally.

Okay. Wow! 'No endorsements, boss.' Obviously not, Voice. But still ... anyway, uh, Donal wants to say something. 'Donald?' Donal. 'Donal?' Yes. 'Okay. As long as he's happy.' He is.

"We have created the conditions to support rapid adoption of our products and data, and this new round of funding will help us reach our goal of becoming a global standard for credit and risk management," says Donal Smith, Credit Benchmark Executive Chairman. "I look forward to working closely with our investors, contributors, and board members to seize this opportunity."

Nice one! You see, dear reader(s)? Guys like our Donal are always seizing opportunities. 'Ha! He's been listening to Grant Cardone, no doubt.' Yes. More of that later. 'Why not now, boss?' Because Billy wants to speak now. FFS!

"Over the course of the last three years, Credit Benchmark has expanded its coverage from c.1,000 entities based on the consensus estimates of just six contributors to more than 22,000 entities with insights derived from three dozen of the world's largest financial institutions," says William Haney, CEO of Credit Benchmark. "The appetite for our consensus view of credit risk is so enormous because it is differentiated from the traditional credit rating; it is truly comprehensive, with deep reach into the un-rated universe; and it is trusted because it is based on the internal regulatory processes of the world's leading financial institutions."

Okay. Wow! He's talking about the universe. 'Yeah. The un-rated universe. What's that?' It's, uh ... planets and shit that haven't got into the guide yet. 'Oh.'


Right. Anything else? Music, pop fan(s)? I'm not doing music updates no more. 'Oh, since when?!' Since today, idiot! This is a finance blog. 'Okay.' And I'll be ready when I'm ready. Maybe January. Just leave me alone! 'All these delays, boss. You're like Elon with his cars.' So what? That's great! He's making the best cars in the world. Good things take time.

NOW(!) ... Cardone? Sleep programming? Does it work? Well, I went to sleep last night listening to The 10X Rule, and I woke up this morning feeling really positive. So ... it's the best way to fight negative dreams, I reckon. I mean, you can't dream about depressing shit while Cardone is screaming in your ear: That's garbage, man. You've got to get success for yourself, baby! Or something like that. You dig?