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Percent Introduces its First Digital Solution for Private Credit Underwriters
Leading Private Credit Platform Extends SaaS Offerings to All Lending Transaction Participants
Fremont, CA: Percent is the world's leading provider of financial infrastructure solutions. Founded in 2018, the firm uses unique technology, integrations, and data to provide lenders and credit transactions with unprecedented transparency and speed. Through dynamic market pricing and defined conditions, Percent's revolutionary ecosystem enables enterprises of any size to borrow the most flexible loan financing at the lowest possible cost.
Percent Underwriter, a digitally native solution meant to expedite the deal-making process for sell-side and buy-side organizations underwriting private credit transactions, launched.
Percent's underwriter solution integrates the whole lifespan of a private credit transaction into a single, user-friendly platform that provides time-saving workflow automation, directly addressing an inherently inefficient underwriting process. Financial firms on this critical side of private credit transactions, which previously had no other option but to rely on manual deal-making, can now use Percent's framework to proficiently potential source clients, structure market standard offerings, syndicate to a rapidly growing investor base, and use Percent's post-close reporting and servicing.
Percent got positioned for further growth in the rapidly developing private lending industry. The underwriting offering is the most recent in a series of product offerings that enable Percent market players. In late 2021, the firm introduced Sync to help the platform's creative fintech lenders and finance companies develop even faster. It also introduced Percent Blended Notes, which exposed investors to several private credit ventures through a single touchpoint and developed in response to strong investor demand.
Percent, led by CEO and founder Nelson Chu, has sponsored over 700 million dollars in transactions over more than 250 offers since its inception in 2019. Underwriters will now be able to use Percent's infrastructure framework and solutions and the company's revolutionary workflow tools and technologies while participating in an interoperable three-sided market driven by the startup.
"Our underwriter offering was built by underwriters for underwriters," said Prath Reddy, President of Percent. "Thanks to our evolving infrastructure, we are opening up an area of the market that until now has been uneconomical for underwriters to consider. The old saying, 'The $1 billion deal takes just as much time and effort as the $1 million deal' is no longer the case as we've been able to profitably execute on hundreds of 'smaller' private credit deals using this framework, which we are now making available to any qualified underwriter."