Percent Sees Continued Growth and Recognizes Significant Milestones in H1 2024

Published 6 months ago via Business Wire

Private credit innovator closes out Q1 & Q2 with strong performance, solidifying its position in the private credit space

Percent, the platform that has created the modern private credit marketplace, continues to build on the previous year’s strong momentum and growth, reporting a record H1 in 2024. As of June 2024, the company achieved an AUM of $215.5 million, its highest level to date, representing 24.1% quarterly growth and 106.4% growth year over year. Percent’s efforts over the past two quarters have concentrated on forging strategic partnerships with reputable underwriters, introducing high-quality offerings to its marketplace, and enhancing its technological infrastructure to improve the investor experience. As a result, the company has navigated complicated market dynamics to quickly become the premier destination for private credit transactions.

In January, Percent announced it crossed the $1 billion threshold in marketplace issuance and has since continued the year with recording breaking momentum. Its sustained success is a testament to Percent’s ability to deliver attractive returns even in shifting market conditions. In Q2 alone, Percent saw the highest number of active borrowers and underwriters as well as the highest number of active retail and institutional investors.

“Coming off a record 2023, we had to make several key strategic shifts to further propel our growth. We expanded impactful partnerships while focusing on quality offerings, technological innovation, and transparency. Enhancing this experience has led to remarkable results, underscoring the right strategic decisions we made to get here,” said Nelson Chu, Founder and CEO of Percent. “Our commitment to building a three-sided marketplace is strengthened by our partnerships with underwriters, the growth of our borrower base, and the increasing demand for private credit and our marketplace from our investors. The record investor sign-ups, issuance volumes, and new borrowers we had in our marketplace these first six months of the year only further validate the heightened interest in private credit as an asset class and we continue to be very well positioned to navigate this rapidly evolving market.”

Key performance metrics year to date included:

  • In H1 2024 alone, Percent’s issuance volume reached $151.6 million over 108 deals, and $215.5 million in assets under management (AUM).
    • Total AUM saw a 45.9% increase in the first half of the year.
  • Interest earnings distributed to investors were over $13.3M, with principal returns nearing almost $100M.
  • Percent welcomed 23 new borrowers, and the number of active programs on Percent grew by 128.1% from this time last year.
  • Percent welcomed five new underwriters, who syndicated $10.6 million across 9 deals.
  • Percent diversified its offerings, spanning across asset classes, borrowers, geographies and sectors, giving investors an even richer, deeper, and more personalized variety of opportunities.

Looking ahead, Percent will continue to innovate its technological infrastructure and double down on providing the best offerings. With the prevailing themes of inflation, higher costs of capital, and market volatility due to elections, private credit is still positioned for growth. Percent is primed to navigate these challenges, develop opportunities, and expand access to the private credit asset class in an unprecedented way.

About Percent

Percent has created the modern credit marketplace, empowering investors, borrowers, and underwriters with innovative technology to increase the speed and velocity of transactions at a fraction of the cost. The company’s core infrastructure delivers public market efficiencies to the multi-trillion-dollar analog private credit market by powering the sourcing, structuring, syndication, surveillance, and servicing of private credit transactions from beginning to end. Founded in 2018, Percent’s platform is becoming the market standard for asset-backed and corporate lending, powering over $1.5 billion in total transaction volume across retail and institutional markets. For additional information, please visit www.percent.com and follow the company on Facebook, Instagram, LinkedIn and Twitter.

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