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Fintech Launched by PNC Banking Vet to Target Middle Market Raises Funding

April 19, 2018, 08:01 AM
Filed Under: Fintech

Cerebro Capital, an online platform designed to revolutionize how corporate credit facilities are sourced and managed, announced a Series A investment from Sterling Partners, a diversified investment firm committed to building great companies and inspiring growth, and the State of Maryland’s TEDCO fund.

Powered by 20 years of data from over 80 banks and a network of lenders with approximately $4.7 trillion in assets, Cerebro is an online platform that allows middle market borrowers and corporate lenders to analyze, manage, and source credit facilities. Founded at CEO’s Matthew Bjonerud’s kitchen table, Kevin Dieter, CTO, and Bjonerud spent nearly two years designing Cerebro to transform and revolutionize how middle market companies secure and loan capital.

Bjonerud has over 10 years of experience in corporate finance as both banker and borrower. He most recently worked in corporate finance at Laureate Education, a multibillion dollar, public corporation, where he played an active role in debt and equity transactions. Between his time working as a corporate banker and his time working at Laureate, he dealt firsthand with the frustrating process of originating and managing credit facilities.

Dieter has over 25 years of experience developing, managing, and leading technology operations and teams across industries including telecommunications and investment banking-related technologies.

Cerebro has seen explosive growth since its launch in October 2017. In a little less than six months, corporate borrowers have trusted Cerebro to source or manage over $1.0 billion in loans on the platform. Cerebro will use the capital from Sterling’s investment to focus on scaling its online marketplace, broadening the capacity for complex debt transactions, and building out its sales, marketing, and engineering teams.

“Cerebro gives middle market borrowers financial self-awareness that previously had only been available to public companies. Cerebro takes it a step further by giving their borrower users the ability to connect to the lender network that is providing the data. The value created for both borrowers and lenders made this a natural decision for Sterling to become involved,” said Doug Becker, Co-Founder of Sterling Partners.

“We’re extremely excited about our partnership with Sterling and TEDCO and what this investment means for Cerebro’s future,” said Bjonerud. “CFOs have a fiduciary responsibility to get the best terms possible, yet it’s incredibly time-consuming, difficult, and confusing to understand the market. We started this platform because there was a clear need in the marketplace to make corporate lending more efficient and transparent. With this capital, we will help companies grow their businesses, expand our own capabilities, and further revolutionize the practice of lending.”

This transaction was facilitated by Miles and Stockbridge P.C. and Perkins Coie LLP.


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