Citigroup has invested in commercial lending platform Numerated.
Citi will also engage Numerated to provide a financial spreading solution for the bank’s enterprise lending operations. The companies did not disclose the amount of the investment, which was made through Citi’s markets strategic investments unit.
The investment “underscores our dedication to driving innovation on a global scale,” Katya Chupryna, director at Citi’s markets strategic investments unit, said in the release. “We witnessed first-hand their innovative approach to commercial lending, enabling financial institutions to exceed borrower efficiency and convenience.”
“We are elated to be selected by Citi as a provider for its lending technology suite,” David O’Malley, Numerated president, added. “This signifies not only an investment in our technology but also a testament to the confidence Citi has in our capabilities.”