AI-Powered Debt Trading Platform Metechi, partners with DDC Financial Group for European Launch
US based platform Metechi has partnered with DDC Financial Group to launch its successful plug-and-play solution for distressed debt deal management in Europe. With an initial focus on the Greek market, DDC.Metechi provides a powerful and secure platform for matching NPL, REO, Distressed Assets, Structured Products and Funds with vetted targeted buyers globally.
The smart technology employed by the platform makes deal management for brokers a seamless process. Comprehensive trading functionality allows brokers and lenders to fully optimize the bidding process and control every deal from start to finish. Brokers grant buyers access to secure data rooms that ensure confidential documents are in a safe and centralized location. Brokers can also monitor, track, communicate, and report multiple deals at once directly on the DDC.Metechi platform.
Since graduating from D.E. Shaw's startup accelerator, Metechi has experienced exponential growth in the US by leveraging the challenges of today's market. The pandemic has catalyzed a wave of distressed debt opportunities, particularly for distressed commercial real estate. With increasing loan delinquencies, DDC.Metechi meets the rapidly growing demand for a technology-driven commercial lenders marketplace.
A recently raised $5 million round of funding is facilitating Metechi's growing success, with over 1,000 US banks, institutional investors, and brokers already on the platform. Buyers and sellers are granted access to this vast, pre-screened network that continues to grow by the day. The new partnership aims to increase this growth by leveraging DDC's broad network of European contacts garnered from DDC Summits, its successful series of Europe-wide NPL and distressed investing events, along with the wide readership of its sector specific proprietary publication, Debt Business Magazine.
"While the largest institutions enjoy the benefits of economies of scale, we level the playing field by using technology to streamline deal flows for banks, brokers, and financial institutions. It's a game-changer," Keren Goshen, Co-Founder and COO of Metechi states.
"With our proprietary technology, we empower brokers to sell more NPLs with much less effort. This is why we can reduce our buyers' fees from an industry-rate of 5% to only 2% while remaining free for brokers and sellers," Goshen explains.