Three quarters into the year, and increasingly businesses are facing challenges with access to financing due to rising interest rates, falling startup valuations, and the general economy.
More and more entrepreneurs are turning to a resource, previously unused, for raising capital — their data.
First adopted by alpha-seeking hedge funds over 10 years ago, alternative data today is something increasingly sought for use in the wider asset management space, among other areas.
According to a statement from the companies, the partnership will help more companies monetize their datasets and add data to the balance sheet as an asset.
Said Eagle Alpha’s CEO Niall Hurley, “Through our partnership with Gulp Data, we look forward to further supporting corporates and SMEs by opening up access to our all-in-one platform – providing a secure and compliant way for investors to view new data sources and to reduce the friction points for corporates wishing to access the investment and financial services vertical.”
“Within the partnership, we wish to accelerate the journey from a corporate’s monetization decision to data access by leading buyers in the investment vertical,” added the executive.
Eagle Alpha, founded in 2012, was one of the first to recognize the value of alternative data sources. The enterprise has since been investing in educating and connecting alternative data vendors and buyers.
Gulp Data, started in 2021, was founded to bring data-backed lending to the mainstream and solidify data as a leverageable asset.
The company’s has a goal of lending more than $100M over the next year, and leverages proprietary machine learning to perform rapid data valuations and offer non-dilutive loans using copies of the borrowers’ data as collateral.
Earlier this year Gulp Data secured $25 million to expand its lending capacity and bring data-backed lending to the mainstream with a $10 million credit facility.
This article includes a client of an Espacio portfolio company