John Mack-Backed Data Startup Announces New Funding and Partners
- PeerIQ raises additional $12 million; links up with TransUnion
- Partnership will unlock data on $13 trillion in loans
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PeerIQ, a startup tracking loans originated through marketplace lenders, has secured $12 million in additional funding and announced a partnership with TransUnion that will give it access to more traditional credit data.
The move is the latest in a series that have blurred the lines between traditional finance and marketplace lenders, which once sought to bypass big banks by using new technology to directly connect borrowers to lenders. Lending startup On Deck Capital Inc. partnered with JPMorgan Chase and Co. in 2015, while Wall Street has been securitizing loans originated through online platforms.