Wall Street Journal: More Early Funding Pours Into Online Lending Data Startup

Telis Demos reports in the Wall Street Journal:

PeerIQ, the online lending marketplace data provider that was seeded with money from big Wall Street names including John Mack and Vikram Pandit earlier this year, has raised even more seed money.

The New York-based startup has yet to even do a Series A fundraising, so getting more cash already is a sign that investors are still really, really excited about the world of alternatives to bank lending—even as shares of the first to list, LendingClub Corp. and On Deck Capital Inc., have tumbled since debuting.

This time, the investment is from alternative investment firm Victory Park Capital and Fenway Summer Ventures, the venture capital firm run by former Consumer Financial Protection Bureau deputy director Raj Date. PeerIQ now counts two former regulators among its backers, Mr. Date and Arthur Levitt, former chairman of the Securities and Exchange Commission.

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