Archway Software offers CovenantIQ, an AI‑powered SaaS platform that connects directly to borrowers’ accounting systems, normalizes financial data, and maps it to loan covenant definitions. The solution provides real‑time monitoring, automated compliance alerts, and actionable risk insights across entire middle‑market loan portfolios, helping banks and private credit funds reduce servicing costs and proactively manage covenant breaches.
Funding
$22M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Middle-market lenders often rely on manual data collection and spreadsheet-based analysis to monitor cash‑flow‑based loans, leading to high servicing costs, delayed detection of covenant breaches, and limited visibility into portfolio risk.
Solution
CovenantIQ offers an AI‑powered platform that connects directly to borrowers’ financial systems, normalizes the data, and maps it to loan covenant definitions. The platform continuously analyzes financial performance, flags emerging compliance issues, and surfaces actionable insights without manual data entry. Lenders can monitor covenant compliance and default risk across their entire portfolio from a single dashboard, enabling proactive risk mitigation and faster decision‑making. By automating analytics and reporting, CovenantIQ reduces servicing costs and eliminates surprise covenant breaches for both lenders and borrowers.
Target Audience
Primary customers are banks and private credit funds that originate cash‑flow‑based loans to middle‑market companies and need efficient, automated loan monitoring and covenant compliance tools.
Features
- Direct integration with borrowers’ source accounting systems for real‑time data ingestion
- Automated normalization of financial statements and key performance metrics
- AI engine that maps granular borrower data to covenant clauses and detects early‑warning signals
- Interactive dashboard with compliance status, risk indicators, and trend analytics
- Configurable alerts for covenant breaches and emerging financial stress
- Collaborative portal allowing lenders and borrowers to review and discuss covenant performance
- Scalable SaaS architecture supporting portfolios of multiple banks and private credit funds