Private credit and asset-based financing (ABF) technology specialist Cardo AI has raised US$15 million in a Series A funding round led by Blackstone Innovations Investments, FINTOP Capital and JAM FINTOP.
The investment will help Milan-based Cardo AI expand its artificial intelligence-supported data and technology offering to markets in the US.
The company said it is dedicated to bringing order to the fragmented and “outdated manual” data and technology processes within the US$40 trillion private lending space.
“Our expansion into the US market, supported by such prestigious institutions, highlights Cardo AI’s ability to deliver powerful technology for the alternative credit industry,” said founder and chief executive Altin Kadareja.
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