Dear Debitum Network community,
It is great to announce the expansion of our network. We are very excited as a new credit rating company CrediWeb from Latvia has joined Debitum Network platform. This is the second credit risk rating agency cooperating with us to provide accurate risk rating for business loans uploaded on the platform. We believe this partnership will help us provide our users with an even better product. From now on, CrediWeb will provide a risk rating for assets from Latvian loan originators.
Debitum Network aims to be a decentralized marketplace connecting additional parties in the lending process. With the expansion of our platform to other markets within the EU, we expect to onboard a lot more counterparties to facilitate the process. CrediWeb is a valuable partner that has extensive experience in risk rating and will help us to deliver a more qualitative lending service by providing a more precise credit risk assessment for the assets uploaded on our platform.
CrediWeb, in cooperation with licenced re-user SIA Crefo Rating, provides online access to information from the Register of Enterprises of the Republic of Latvia, providing clients with the most actual information and changes, which are updated along with changes registered in the Register of Enterprises.
Latvian largest companies trust and use CrediWeb solvency index CrefoScore to assess the financial position of potential or existing business partners or clients. Index accurately and clearly shows the probability of default. CrefoScore is their unique solvency rating and one of the most important components of the report – showing the probability, at which the company will be unable to pay its debts in the next 12 months. CrefoScore is calculated on a daily basis for every Latvian company, taking into account various factors, such as financial data, credit history, and other economic and financial components.
We understand the importance of versatility and, therefore, we are working to bring in more partners on our platform: loan originators, risk assessors, and debt collectors. Partnership with CrediWeb brings us closer to an effective financing ecosystem for the financing of SMEs. Stay tuned for more upcoming updates!
Disclaimer: Investments in financial products are subject to market risk and any investment should only be done with risk capital. The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.