The company closed a $5.9m venture round. The round was led by QED, with participation from Victory Park, Fifth Street Asset Management, Vikram Pandit, Ron Suber. The company's platform provides institutions and lenders the ability to view and purchase middle market loans in a centralized marketplace at smaller transaction sizes than have previously been practical.
Founded in 2015 and headquartered in New York City, MMKT provides qualified institutions and lenders the ability to view and purchase middle market loans in a centralized marketplace at smaller transaction sizes than have previously been practical. "Today MMKT moves closer to our goal of broadening access to middle market loans as we list the first syndication on our platform," stated President, David Tannenbaum, adding "We look forward to leading the automation of a previously cumbersome process, while continuing to think toward future applications of our technology beyond middle market loan syndication. It's definitely an exciting time." "The process for middle market loan syndications remains inefficient and has not changed in any meaningful way over the last few decades which has made it difficult for smaller institutions to access these loans."