CredCore Raises $16 Million for AI-Powered Debt Capital Market Tool

Debt management platform CredCore has raised $16 million for its AI-powered solution.

The New York-based company’s Series A funding round, announced Thursday (Feb. 20), will help it expand its artificial intelligence (AI) capabilities, add staff and enhance its platform to support a wider range of credit market participants and deal types.

“CredCore is addressing a critical need in the enterprise credit industry, which transacts $5 trillion annually but has seen limited technological innovation,” the company said in a news release.”By focusing on domain-specific AI, CredCore accelerates deal throughput and empowers customers to scale their teams and assets under management.”

The release added that the CredCore platform has seen surging demand and supports some of the largest asset managers and corporations in the U.S., overseeing more than $650 billion in assets under management (AUM).

According to the release, CredCore’s offering covers the complete debt deal lifecycle, “including pre-deal evaluation, during-deal diligence, and post-deal management.” The company’s Agentic platform lets customers analyze, summarize and glean insights from deal-related documents in hours rather than days, speeding capital deployment.

“Marrying credit and technology has historically been insurmountable. The industry is fragmented, complex, and specialized, with data that is often unavailable and inconsistent. At CredCore, we are solving this with proprietary AI models trained on $5 trillion worth of data,” said Saumil Annegiri, one of the company’s co-founders. “However, technology is just a part of the solution. Expert oversight remains indispensable to ensure precision and trust. This is where we differentiate ourselves with domain-specialists-in-the-loop.”

Elsewhere in this space, London-based 9fin in December announced it had raised $50 million in a Series B round to build the next generation of its AI-powered analytics platform for global debt capital markets.

As noted here at the time, the company offers subscribers intelligence on high-yield bonds, leveraged loans, distressed debt, collateralized loan obligations (CLOs), private credit and asset-backed finance.

Meanwhile, research by PYMNTS Intelligence and NCR Voyix has found that 72% of finance leaders are actively using AI in their operations.

The report – “Is AI the Master Key to Banking’s Next Era?” – showed that common applications of AI in the financial sector include fraud detection and customer onboarding automation, which are used by a respective 64% and 42% of finance leaders.

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