CIBC Innovation Banking is pleased to announce a $4.5M growth capital facility for Toronto-based Pitchpoint Solutions, Inc. (“Pitchpoint”), a leading provider of fraud prevention services across the US for multiple industries, including mortgage, background and tenant screening, and anti-money laundering.
Pitchpoint provides a comprehensive suite of services that enables lenders to detect and mitigate fraud risk early, and ensures compliance with investor guidelines, providing business process compliance across the organization. Pitchpoint enables creditors to instantly validate loan application data, reducing the risk of approving a fraudulent loan application, and ensuring compliance with mandatory fraud prevention regulations.
“Pitchpoint has a very strong competitive positioning in the US fraud verification market,” said Paul McKinlay, Managing Director in CIBC Innovation Banking’s Toronto office. “We are excited to work with the company and support their growth.”
“We are committed to providing a product that continues to evolve and support creditors of all types across the US,” said Stephen Schrump, Pitchpoint’s Chief Executive Officer. “We look forward to working with CIBC Innovation Banking as we continue to grow our business.”
About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to North American innovation companies at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Chicago, Denver, Menlo Park, Montreal, New York, Reston, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking and capital markets businesses in the U.S. and Canada.
About Pitchpoint
PitchPoint is a leading provider of data and analytics solutions that empower clients to make smarter and more efficient decisions through data-driven insights. PitchPoint is committed to being a premier solution provider that clients rely on for their strategic goals, superior service to their customers, and overall success by delivering best-in-class software, services, and solutions with a relentless commitment to excellence, innovation, and leadership.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210311005015/en/