According to Mark Almeida, President of Moody’s Analytics, the investment is based on the company’s desire to help FIs that lend to SMEs. Almeida explained:
“Finagraph’s technology and insight into small business financials enable us to accelerate our efforts to transform the way lenders interact with small businesses, helping bankers make better, faster lending decisions for the growing SME market.”
Known as BBC Easy when it demonstrated its technology at FinovateSpring 2013, Finagraph provides business owners with tools that help them see trends in working capital, find hidden cash, and monitor risk indicators like declining cash or a rising expenses vs revenues ratio.
Finagraph’s Financial Dashboard plays well with accounting systems such as Xero and QuickBooks and, as of mid-February, is now available for free. Finagraph also offers financial skills training through its Finagraph Academy, and courtesy of its new relationship with Moody’s, Finagraph will provide business credit scores based on Moody’s Analytics Risk Quality or MARQ.
Finagraph was founded in 2010 and is headquartered in Seattle, Washington. The amount of Moody’s investment was not disclosed. The company will gain a seat on Finagraph’s board of directors are part of the deal.