Is Liquidity profitable in 2026?

No audited revenue or profit figures have been disclosed. Liquidity self-reports 500 to 600 percent annual growth in 2022 to 2023 and a 0.00 percent default rate, but these are unaudited company claims, not confirmed financial statements, as of July 2026.

Who owns Liquidity (formerly Liquidity Group)?

Israeli investment house Meitav held roughly 33 percent fully diluted after the February 2023 raise. Other equity backers include Spark Capital, MUFG Innovation Partners and Apollo Funds, per a February 26, 2023 Globes report.

What is Liquidity's current valuation?

Liquidity was valued at $1.4B in February 2023 after a $40M MUFG-led round, up from about $800M in 2022 and $100M in 2020. No public valuation update has been reported since, despite claimed 500 to 600 percent growth.

Could AI replace Liquidity's lending business?

Liquidity already runs AI-driven underwriting internally, patented in 2021, so external AI tools threaten its speed edge more through rival adoption than replacement. Its capital relationships with MUFG, Apollo and KeyBank and multi-jurisdiction lending licenses cannot be replicated by AI alone.

Who are Liquidity's biggest competitors?

Hercules Capital (HTGC), with a $4.31B portfolio as of September 30, 2025, TriplePoint Capital, with over $10B deployed since 2006, and Runway Growth Finance (RWAY, acquired by BC Partners Credit in January 2025) are the closest venture and growth debt peers.

Has Liquidity had any loan defaults?

Liquidity claims a sub-1 percent, later stated as 0.00 percent, default rate on its loan book, a self-reported and unaudited figure. The private credit sector broadly showed stress signals in March 2026, including BlackRock limiting withdrawals on a private-credit fund.

Israel · Israel

Liquidity

AI-underwriting lender providing venture debt to growth-stage tech and SaaS firms.

Losing its protection

Assessed 29 July 2026 · Evidence as of 29 July 2026

The structural protection is eroding.

On the recordSince 29 July 2026 · Checkable from 2026-2027 · Every call on the record Checkpoint: First full credit-cycle test of its claimed 0.00% default rate amid 2026 private-credit stress

The call

Liquidity has real lenders and licenses behind it, but its AI-speed pitch is a head start that bigger, better-funded venture debt players can still close.

Liquidity lends money to software companies using artificial intelligence to make lending decisions faster than traditional lenders. The company has real banking relationships and licenses across multiple states, which took time and money to build. However, bigger competitors like Hercules Capital and TriplePoint Capital can copy the AI speed advantage because they have more capital and scale, and banks are already moving into this space themselves. The private credit market is under pressure in 2026, software company defaults are rising, and Liquidity's valuation has not moved in 3.5 years despite claims of huge growth, which suggests the market may not believe the growth story or the company is facing headwinds it is not fully disclosing.

Why

AI pressure: Hercules Capital, TriplePoint Capital, and bank-owned venture arms building comparable AI underwriting tools. Liquidity's pitch is fast AI-driven underwriting, but rivals with more capital can copy the same speed within a credit cycle. Could AI do the core job? Only partly.

Bigger players: Hercules Capital, TriplePoint Capital, and bank-affiliated lenders like MUFG. These lenders already run venture debt books with more capital and scale than Liquidity, competing head-on for the same SaaS borrowers. Could a giant copy it? Probably.

What protects it. Existing capital relationships with MUFG, Apollo, and KeyBank plus multi-jurisdiction lending licenses give it deal flow rivals still have to build.

What would change this call

Liquidity raises new equity round or discloses updated valuation above or below $1.4B. Shows whether growth claims are backed by real investor demand after 3.5 years stale.
Hercules Capital or TriplePoint Capital launches an AI-driven underwriting product within 12 months. Would show incumbents closing the speed gap that is Liquidity's main pitch.
MUFG or Apollo publicly reduces or unwinds their credit/partnership ties with Liquidity. Would signal capital partners losing confidence amid private-credit sector stress.

Key numbers

$1.4B valuation, unchanged since Feb 2023 round (2023-02)
$775M in credit facilities, $425M from Apollo (2022-04)
Meitav holds ~33% fully diluted stake (2023-02)

Named risks

Valuation stuck at $1.4B since Feb 2023 despite claimed 500 to 600 percent growth, suggesting market skepticism. Severity: medium
Private credit sector stress including BlackRock gating in March 2026 could tighten Liquidity's funding partner base. Severity: high
SaaS-heavy borrower book exposed to AI-driven margin compression and potential defaults. Severity: medium
Core AI underwriting speed advantage replicable by better-capitalized incumbents like Hercules or bank-owned venture arms. Severity: medium
Key metrics (growth rate, default rate, headcount) are self-reported or aggregator-estimated and unaudited. Severity: medium

Rivals, as read in July 2026

Rival	Direction	Evidence
Hercules Capital	contesting	$4.31B portfolio fair value as of Sept 30, 2025 vs Liquidity's smaller, unaudited book
TriplePoint Capital	contesting	>$10B deployed to 1,000+ companies since 2006, longer track record
Runway Growth Finance	contesting	Acquired by BC Partners Credit Jan 2025, $946M portfolio as of Sept 2025
Banks (JPMorgan, Wells Fargo) and mega-funds (Ares, Blue Owl, Blackstone)	gaining on	Broader capital access into private credit ecosystem noted in 2026 sector reports

Questions people ask

Is Liquidity profitable in 2026?: No audited revenue or profit figures have been disclosed. Liquidity self-reports 500 to 600 percent annual growth in 2022 to 2023 and a 0.00 percent default rate, but these are unaudited company claims, not confirmed financial statements, as of July 2026.
Who owns Liquidity (formerly Liquidity Group)?: Israeli investment house Meitav held roughly 33 percent fully diluted after the February 2023 raise. Other equity backers include Spark Capital, MUFG Innovation Partners and Apollo Funds, per a February 26, 2023 Globes report.
What is Liquidity's current valuation?: Liquidity was valued at $1.4B in February 2023 after a $40M MUFG-led round, up from about $800M in 2022 and $100M in 2020. No public valuation update has been reported since, despite claimed 500 to 600 percent growth.
Could AI replace Liquidity's lending business?: Liquidity already runs AI-driven underwriting internally, patented in 2021, so external AI tools threaten its speed edge more through rival adoption than replacement. Its capital relationships with MUFG, Apollo and KeyBank and multi-jurisdiction lending licenses cannot be replicated by AI alone.
Who are Liquidity's biggest competitors?: Hercules Capital (HTGC), with a $4.31B portfolio as of September 30, 2025, TriplePoint Capital, with over $10B deployed since 2006, and Runway Growth Finance (RWAY, acquired by BC Partners Credit in January 2025) are the closest venture and growth debt peers.
Has Liquidity had any loan defaults?: Liquidity claims a sub-1 percent, later stated as 0.00 percent, default rate on its loan book, a self-reported and unaudited figure. The private credit sector broadly showed stress signals in March 2026, including BlackRock limiting withdrawals on a private-credit fund.

Timeline

2026-06Won Best AI-Driven Private Credit Platform 2026 award from Wealth & Finance International
2026-06Provided $100M facility to Perk
2026-05Provided $50M facility to Nala for stablecoin payments infrastructure
2026-03BlackRock limits withdrawals on a private credit fund amid sector-wide gating
2025-10Co-led $35M Series B for Simple Life with Hartbeat Ventures
2025-06Opened European HQ in London, pledged 1.5B GBP UK investment over five years
2025-03Secured $450M debt facility from KeyBank
2023-05Raised additional $40M, launched 250M USD Europe debt fund
2023-02Reached $1.4B unicorn valuation after $40M MUFG-led round
2022-04Secured $775M in credit facilities, including $425M from Apollo

Revision history

29 July 2026

First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.

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