.jpg){kind=avatar}
.jpg){kind=avatar}
Congratulations Kent on this terrific spread in the FT! FinTech Collective is proud to have been one of the early investors helping you bring transparency to a totally opaque market. We also enjoyed the quote "a small, pushy company" - Well done!
Here is a quote from the FT that we think best describes the tear these guys have been on since we met Kent and invested in his business "The company sold its first subscription in April 2013, but now has more than 250 bought by some of the biggest hedge funds, private equity companies and law firms in the US. Each pays $50,000 to $150,000 a year, depending on its size, which funds 45 Reorg staff."
Reorg was set up in early 2013 by Kent Collier, a former investment bank and hedge fund analyst, initially to solve one of the most frustrating and time-consuming challenges in the distressed debt industry, in which investors snap up the loans and bonds of companies close to or already in bankruptcy. It is arduous work, and means constantly checking the Public Access to Court Electronic Records, or Pacer, the government’s archaic electronic information service. “You want to be ahead of the news,” Mr Collier lamented on his blog in 2009: “I check Pacer and various court dockets so many times it makes me sick . . . If anyone knows a way to automate this or wants to start a company that automates this with me, let me know.”
http://www.ft.com/intl/cms/s/0/8be816ce-8314-11e5-8e80-1574112844fd.html#axzz3t88FeCJo
