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MMKT raises USD5.9m

MMKT Exchange, a secure digital exchange that introduces efficiency, liquidity and transparency to the middle market loan syndication process, closed a USD5.9MM round of funding on.

The round was led by QED Investors, with Victory Park Capital, Fifth Street Asset Management Inc, Vikram Pandit, Ron Suber and other strategic high net worth and institutional investors also participating.
MMKT will use the funding to accelerate the growth of its infrastructure and sales team, expand its product offering and execute its product roadmap.
"MMKT leverages a robust technology platform to transform one of the few remaining outdated processes in financial services – loan syndications. We believe the platform will be beneficial to all
constituents: to middle market loan origination platforms, to purchasers who currently don't have access to the market, and to sponsors and borrowers by providing a level of transparency that
previously has not been possible. We look forward to partnering with MMKT as they continue to expand their business and drive the next wave of evolution in the middle market loan syndication space," says Frank Rotman, a Partner at QED Investors.
Founded in 2015 and headquartered in New York City, MMKT provides qualified institutions and lenders the ability to view and purchase middle market loans in a centralised marketplace at smaller transaction sizes than have previously been practical.
"Today MMKT moves closer to our goal of broadening access to middle market loans as we list the first syndication on our platform," says President, David Tannenbaum (pictured), adding: "We look forward to leading the automation of a previously cumbersome process, while continuing to think toward future applications of our technology beyond middle market loan syndication. It's definitely an exciting time."
"The process for middle market loan syndications remains inefficient and has not changed in any meaningful way over the last few decades which has made it difficult for smaller institutions to access these loans. In response to the demand for middle market loans, FSAM partnered with David to create a technology-based workflow solution that we believe provides an upgrade to the current syndication process, improving transparency and liquidity. We are pleased to have closed our initial round of funding with a cohort of strategic investors that we believe will be instrumental in assisting MMKT through its next phase of growth," adds Interim CEO and Chairman of MMKT, Leonard M
so-layout-grid-align:none;text-autospace:none'>Towards the end of the Tech Business Programme, Sup’s achievements will be judged at the Tech Business Awards by representatives from Blick Rothenberg, The Investors Chronicle, Tech City News and Channel 4 News.

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