London-based Cognitive Credit has raised a $40m (about €35.7m) strategic growth investment led by Summit Partners, with existing backer ETFS Capital following on. The round is four times the size of the company's $10m Series B two years ago.
Cognitive Credit was founded in 2017 by Robert Slater and a team of former credit analysts. Their starting point was that fixed-income professionals were working with tools built for equity markets, despite corporate credit being one of the largest asset classes in the world. The OECD's Global Debt Report 2026 puts corporate bond and loan issuance at roughly $14tn in 2025 alone.
The company's platform combines verified financial data, analytics and generative AI built specifically for credit research. Its models are drawn from hundreds of thousands of financial reports and cover more than 3,500 corporate bond and loan issuers across the US, Europe and emerging markets.
The deal
Boston-headquartered growth equity firm Summit Partners led the round, and partner Chris Bon has joined Cognitive Credit's board. ETFS Capital, which led the $10m Series B in September 2024, took part again.
Neither the post-money valuation nor the size of Summit's stake was disclosed. Before this round, the company had raised a £6m Series A led by Fitch Ventures in November 2021 and the ETFS-led Series B. The new cheque is larger than its earlier disclosed priced rounds combined.
The shareholder register follows a familiar path for B2B data companies: a strategic backer (Fitch) first, then a sector specialist (ETFS), and now a generalist growth fund.
The numbers behind the round
Summit cited 240% growth in active users. It also said Cognitive Credit has more than doubled the number of bond and loan issuers it covers.
The company says its products feed analytical workflows at more than 80% of the 25 largest global asset managers by assets under management. They are also used by all ten of the top global debt league-table investment banks.
Customers can reach the data through a web application, an Excel add-in that streams financials into existing spreadsheets, a REST API, and a connector for third-party AI assistants. Cognitive Credit says every output can be traced back to its source document. For regulated institutions, that is a key requirement.
Use of funds
The money will pay for commercial expansion in the US and for new products. The first of these is DealConnect, which is due to launch shortly. It will give users on-demand credit models for private issuers that report through secure data rooms, a fast-growing part of the market as private credit expands.
The company is also preparing to roll out agentic credit analysis and plans to extend coverage into further credit markets. More capabilities are scheduled for 2027.
"Demand for credit-specialist technology will continue to accelerate from here," Slater said.
What's next
The round puts Cognitive Credit among a small group of London financial-data companies to win backing from a major US growth investor. Summit's money and its new board seat will most likely be tested in the US, where the company now has to compete directly with established data incumbents on their home ground.
Original source: EU-Startups — https://www.eu-startups.com/2026/10/londons-cognitive-credit-lands-e35-73-million-to-scale-its-ai-and-data-platform-for-credit-markets/
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