Metechi, a U.S.-based AI-powered debt trading platform, announced on Friday it secured $5 million through its latest investment round.
Founded in 2017, Metechi claims it empowers banks and Institutional Investors to better serve their clients, compete with larger institutions for business, and observe regulatory balance sheet constraints. The company also noted that its network of more than 1,000 U.S. banks, institutional investors, and brokers is expanding faster than ever and its funding facilitates our growing success as it leverages the challenges of today’s market.
“The pandemic has catalyzed a wave of distressed debt opportunities, particularly for distressed commercial real estate. While the largest institutions enjoy the benefits of economies of scale, we level the playing field by using technology to streamline deal flows for banks, brokers, and financial institutions. This round of funding is a game-changer for us. This is why we can reduce our buyers’ fees from an industry-rate of 5% to only 2% while remaining free for brokers and sellers. With increasing loan delinquencies, we’re meeting the rapidly growing demand for a technology-driven commercial lenders marketplace.”
Metechi Co-Founder and COO, Keren Goshen, spoke about the investment round by stating:
“With our proprietary technology, we empower brokers to sell more NPLs with much less effort. This is why we can reduce our buyers’ fees from an industry-rate of 5% to only 2% while remaining free for brokers and sellers.”
The investment rounds funds will be used to continue the development of the Metechi platform.