Metechi raised $5 million in funding for its AI-powered debt trading platform that facilitates the buying, selling, origination and syndication of commercial loans.
The investment round was led by angel investors, including Shimon Weintraub, the co-founder of Brack Capital Group. Zion Kenan and Arik Pinto, former CEOs of Bank Hapoalim, also took part.
Metechi, which gradued from D.E. Shaw’s startup accelerator, has more than 1,000 U.S. banks, institutional investors and brokers on its platform.
“While the largest institutions enjoy the benefits of economies of scale, we level the playing field by using technology to streamline deal flows for banks, brokers and financial institutions. It’s a game changer,” Keren Goshen, co-founder and COO of Metechi, said. “With our proprietary technology, we empower brokers to sell more NPLs with much less effort. This is why we can reduce our buyers’ fees from an industry rate of 5% to only 2% while remaining free for brokers and sellers.”
