Late-stage tech backer Liquidity raises $775 million for its fintech platform from Apollo and MUFG – TechCrunch
Credit-oriented fintech platform Liquidity groupfunding for later-stage tech companies, announced a new $775 million in private equity funding at Apollo and MUFG Bank.
In a statement Ron Daniel, Co-Founder and CEO of Liquidity Group, said: “The new capital partnership with Apollo and the continued and successful partnership with MUFG is a confirmation of the scope of our mission. Our founding vision was to use artificial intelligence to transform capital markets.”
The round was led by funds and institutions managed by affiliates of Apollo (NYSE: APO). The commitments include $425 million from the Apollo Foundation for a line of credit to help Liquidity expand its lending operations to late-stage tech companies. It also includes $300 million from MUFG Bank (NYSE: MUFG), to a debt fund venture called Mars Growth Capital. This will now invest in late-stage tech companies. Finally, there is a $50 million SAFE note investment by Apollo Funds, MUFG Innovation Partners and Spark Capital.
Founded in 2018, Liquidity uses machine learning and real-time data to automate the entire credit investment lifecycle, committing more than $1 billion in capital. Investments to date include Etoro, Zetwerk and Homer.
Apollo partner Joshua Black will also join Liquidity’s Board of Directors.
Bret Leas, Apollo Partner and Global Head of Structured Corporate Credit & ABS said: “Ron and his team at Liquidity are connecting technology borrowers and credit investors through through an innovative, data-driven ecosystem, and we look forward to partnering with them as they scale their businesses.”