REDD Intelligence, an online fixed-income intelligence and analytics platform focused on the emerging markets, today announced that it closed a $5.8m equity financing round, effective immediately.
This is REDD’s first institutional financing and was led by Nassau Point Investors. Other investors include Neil Osborn, Chairman of REDD Intelligence and Thomas Barry, President and CEO of Zephyr Management L.P. Terms of the transaction were not disclosed.
Proceeds from the capital raise will be used to finance the launch of REDD’s Central & Eastern Europe, Middle East, and Africa (CEEMEA) emerging market fixed-income coverage expected later this summer. CEEMA coverage will be managed from REDD’s new London office and other key CEEMEA locations. The company said that this launch will complete REDD’s Global Emerging Markets offering, which includes the company’s successful Latin America and Asia platforms.
Proceeds will also be used for the further development of AI and alternative data technology to support REDD’s core focus on event driven, special situation credit opportunities.
“REDD continues to meet growing market demand for proprietary, specialized EM credit research, data, and insight, and we welcome our new strategic investors to enable this expansion,” said Group CEO and Co-Founder Valeria Morozovsky Girimonte.
“We are thrilled to announce the launch of CEEMEA, our final geographic region of coverage. More than ever, in today’s global markets, REDD’s focus on emerging market high-yield and distressed debt is helping subscribers identify, understand, and take advantage of early stage, event driven opportunities.”
New Board Members
REDD also announced today that it is welcoming new members to its Board of Directors under the leadership of Chairman Neil Osborn. New Board members include:
- Jonathan Wendell, Founder and Managing Member of Nassau Point Investors;
- David Tenney, Operating Partner of Nassau Point Investors and former Co-Chief Operating Officer of Global Research at Goldman Sachs
- Christopher Fordham, CIO at Daily Mail and General Trust (DMGT) and former CEO of Euromoney Institutional Investor PLC.
“We welcome these new Board members and the experience, expertise, and insights that they will bring to REDD,” said Mr. Osborn.
Today’s news from REDD comes on the heels of a series of recent milestones:
- In the six months to June 30, 2020 REDD delivered 42% global revenue growth (GAAP) year-on-year (YoY) with Asia growing at over 100% YoY, demonstrating accelerating momentum and market recognition in the region, coupled with the company’s proven market leadership in Latin America.
- In October 2019 REDD appointed Jorge Wilmer as COO to support this global expansion. Mr. Wilmer brings a wealth of knowledge to REDD Intelligence as a veteran banker and an expert in emerging markets, and manages the daily operations of REDD’s growing global business while advising the executive management team.
- Ahead of the CEEMEA launch expected later this summer, REDD has built an experienced team in major business centers spread across four continents. REDD’s emphasis on developing local teams to access primary intelligence in the emerging markets sets it apart from competitors that rely on secondary information sourced offshore.
About Nassau Point Investors
Based in Greenwich, Conn., Nassau Point Investors LLC is an investment firm which works closely with the founders and management of lower-middle-market companies to help them grow their businesses and create substantial value for all stakeholders.
Headquartered in New York, Risk Event Driven Distressed Intelligence (REDD Intelligence) is a leading provider of material intelligence on emerging market event driven special situations.
Through an online platform and mobile applications, REDD delivers real-time news and analytics on more than 1,400 emerging market companies. REDD’s recognized team of journalists and analysts continuously reports on trading catalysts, allowing bankers, asset managers and advisers to focus on opportunities relevant to their unique market or business needs.