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First Access Accesses Venture Capital Debt

Wednesday, January 21, 2015 5:48:00 AM PDT | VentureDeal
   New York, New York  --  Financial services technology company First Access has landed $1.5 million in venture capital debt investment, according to an SEC regulatory filing.

First Access says that its technology "combines financial and mobile data to reliably predict credit risk for borrowers in informal markets."

The net benefit to financial providers is that it can help reduce costs and loan losses.

Investors in the financing were not disclosed, nor was how the company intends to use the funding proceeds.

First Access previously raised an undisclosed amount of financing in April 2014, also as a convertible debt round of financing.

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