Percent Continues Record Growth Streak in 1H

Private Credit Ecosystem Disrupting Private Markets Experiences Record Growth in First Half of Year, as Demand for Private Credit Opportunities Spiked Amid Extreme Volatility in Public Markets

NEW YORK, Aug. 16, 2022 /PRNewswire/ -- Percent, the platform powering the future of private markets, saw record-setting volume levels across its end-to-end ecosystem in the first half of the year, as the environment of market volatility, rising interest rates and economic uncertainty pushed more investors to search for yield stability in the private credit markets and several new borrowers joined the platform.

As of July 2022, Percent investors have earned more than $16 million in interest since the company launched its first deal in 2019. In the first half of this year alone, in the period ending July 31, 2022, investors on the platform earned $5.4 million, a 52% increase in earnings from the same time last year. Meanwhile, the historical average APY for investments on Percent's platform currently sits at 12.38%, while its current average APY is at 15.09%, presenting an extremely attractive opportunity for investors against the current market backdrop where in the first six months of 2022, the S&P 500 tumbled 20.6%. 

"The first half of the year was indeed a tumultuous time for the public markets, but at Percent we maintained a strong and steady growth trajectory across all of our business lines, as our platform was designed to offer investors solid opportunities for yield in any market environment," said Nelson Chu, Founder and CEO of Percent. "Now more than ever, our private credit ecosystem is offering rattled investors a private-market alternative option that is known in the industry for having shorter-durations and higher-than-average APYs. At the same time, we are leading the industry forward by bringing public market efficiencies to the private markets."

Key Milestones and Product Launches in 1H of 2022

• In January, Percent launched Percent Underwriter, streamlining the deal-making process for both sell-side and buy-side firms underwriting private credit transactions.
• Also in January, after closing on the acquisition of proprietary portfolio surveillance and risk management technology from MidCap Financial, Percent began building and planning the rollout of its soon-to-launch, AI-driven optimization and surveillance tool.
• In February, Percent entered into a multi-tiered due diligence agreement with MTAG Services, LLC ("MTAG"). This strategic initiative is now enabling Percent to roll out collateral verification capabilities, bringing an institutional-grade layer of oversight to its risk management framework and offering investors on its platform greater confidence and more peace of mind.
• In June, Percent partnered with Anzen to offer the industry's first credit default swap protection on private credit investment offerings.
• Also in the first half of the year, Percent was named one of the 2022 Best Places to Work in Financial Technology. Ranked No. 16 on the list of fifty companies being spotlighted this year, Percent was recognized for creating an open and welcoming workplace within Fintech. (The annual list put out by Arizent and Best Companies Group is based on compiled survey analysis from judges as well as employees.)

"Adding to our momentum, we successfully launched Corporate Loans in the first half of the year which offers VC-backed startups a fast and seamless way to tap minimally-dilutive venture debt financing options," said Prath Reddy, President of Percent. "This is another example of our suite of solutions offering all parties involved in private credit transactions 'the right product at the right time.' This innovative offering was created as an answer for the many startups that are now facing a slowing pace of VC-funding. At the same time, it brings a new asset class to our platform while opening up venture debt opportunities to accredited investors for the first time."

About Percent

Percent is the platform powering the future of private markets. Founded in 2018, the company leverages proprietary technologies, integrations, and data to bring first-of-its-kind transparency and efficiency to private credit transactions. Percent's innovative ecosystem enables companies of any size to raise the most flexible debt capital at a low cost through dynamic market pricing and standardized terms. To date, its platforms have powered more than $950 million in transaction volume in a multi-trillion-dollar private credit market.

For more information, visit the Percent website, and follow the company on Facebook, Instagram, LinkedIn and Twitter.

Media Contact:
Victoria Castelbuono
JConnelly for Percent
[email protected]
973-590-9314

SOURCE Percent