Fintech unicorn Juniper Square has acquired Tenor Digital with plans to build out its fund operations software offering with new private credit capabilities. The terms of the deal have not been disclosed.
Tenor Digital is a solutions provider specialising in post-close loan operations in private markets. Its suite includes services for loan servicing and administration, financial tracking and reconciliation, reporting and communications, and data validation and borrower monitoring.
The company is based in Holly Springs, North Carolina, and is led by CEO Tony Chung, who co-founded Tenor Digital with CTO Jesus Mirabal in 2023. As part of the transaction, Chung has joined Juniper Square as managing director of private equity and private credit, while Mirabal moves to VP of credit products.
In a statement, Juniper Square says Tenor Digital’s technology will be “tightly integrated” with its software, data and fund administration services platform, which provides private credit fund managers with a “one-stop shop for private credit fund operations”, according to its website.
This integration will include Tenor Digital’s flagship AI technology Nia, which uses optical character recognition to process loan agreements and notices, automate post-close workflows, and deliver real-time calculations and portfolio analytics to private credit teams.
Nia will prove particularly advantageous to Juniper Square, which launched its own Agentic AI platform, called JunieAI, in June this year. JunieAI is built to handle broader fund operations and investor relations tasks, while Nia’s loan-specific AI will enable Juniper Square to offer automation across both fund management and credit operations.
The launch of JunieAI, and the subsequent purchase of Tenor Digital, come after Juniper Square raised $130 million through a Series D funding round led by Ribbit Capital. The raise valued the San Francisco-based company at $1.1 billion, and was supported by Fifth Wall, Blue Owl Capital, Redpoint Ventures, and HighSage Ventures, among others.
Source: https://www.fintechfutures.com/
