What Icap Crif does

ICAP CRIF S.A. is a Greece-headquartered business information and credit risk management group operating across Southeastern Europe (Greece, Romania, Bulgaria, Cyprus) and serving 7,000+ clients. Founded in 1964 as ICAP A.E., the company was acquired by Italian credit information multinational CRIF S.p.A. in December 2021 and rebranded ICAP CRIF in February 2022. It functions as the SE European arm of the CRIF group and is the self-described market leader in Credit Risk and Business Information Solutions in the region, with 260+ employees and revenue of €22.9 million in 2021 (nine consecutive years of record revenue and profit through 2024).

The company's product architecture combines credit rating, business information, ESG, and analytics layers. Core offerings include ICAP CRIF Ratings — an ESMA- and Hellenic Capital Market Commission-certified Credit Rating Agency operating since July 2011 across corporate, structured finance, financial institutions, project finance, and shipping — plus Business Information Services, the Synesgy global ESG assessment platform, Risk.Profiler (banking risk intelligence), the newly launched AI-powered MYRA credit risk analysis platform, Data.Prisma analytics, findbiz B2B directory, and Credit.Eye monitoring. The stack is anchored by 60+ years of proprietary Greek company data, daily-updated, and reinforced by the Trade Exchange Program (B2B invoice/payment behavior data from member firms) plus CRIF's global open banking infrastructure. The company also publishes 40+ annual sector studies and operates flagship events (Credit Risk Management Conference, ESG Summit, True Leaders Awards, Women in Business Forum).

Revenue is generated across six streams: credit rating and monitoring subscriptions, business information reports (subscription and one-time), sector studies and research publications (pay-as-you-go via online shop), ESG consulting and Synesgy platform subscriptions, marketing and sales solutions (Adrenaline, findbiz), and consulting/professional services including the Risk Training Institute. Pricing is quote-based and not publicly disclosed; sector studies are sold individually via icapcrif.com/shop with payment through Piraeus Bank Paycenter. The go-to-market is enterprise field sales targeting banks, financial institutions, large corporates, and government bodies, supplemented by digital self-service for mid-market clients and participation in CRIF's global distribution network (including Dun & Bradstreet Worldwide Network membership).

Name

Icap Crif

Legal name

ICAP CRIF S.A.

Website

https://icapcrif.com

Company type

Private

Founded year

1964

Operating status

Operating

Headcount range

251–500 employees

Short description

ICAP CRIF is an ESMA-certified Greek credit rating agency and business information group serving banks, corporates, and government bodies across Southeastern Europe (Greece, Romania, Bulgaria, Cyprus) with proprietary company data, ESG assessment (Synesgy), sector studies, and AI-driven credit risk analytics through its 7,000+ client base.

Ownership category

akta.pro rank

Product category

Credit Risk Management & Business Information Services

NAICS

Credit Bureaus (561450), Activities Related to Credit Intermediation (5223), Credit Intermediation and Related Activities (522)

SIC

Miscellaneous Business Credit Institution (6159), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

akta.pro secondary industries

Asset-Backed Securities (ABS) (FSACACAA), IT Governance, Risk & Compliance (IT GRC) Platforms (HDAEALAK), Private Credit — Structured Credit (CLOs, ABS, Private Securitizations) (FSAHAJAH)

Keywords

• Credit risk management
• Business information services
• Credit rating agency
• ESG assessment platform
• Sector research studies

Headquarters

HQ city

Kallithéa

HQ country

Greece

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Credit Rating & Monitoring Subscriptions: Annual/recurring subscriptions for credit ratings, scores, and monitoring/alert services provided to banks, financial institutions, and corporate clients. Revenue generated through contract renewals and rating surveillance fees. Certified by ESMA.
2. Business Information Reports: One-time and subscription sales of business reports, company data, and credit risk reports to businesses, banks, and government entities.
3. Sector Studies & Research Publications: Sale of industry/sector studies (over 40 sectors), economic reports, and specialized research publications. Sold individually or via subscription. Includes D&B Global Bankruptcy Reports.
4. ESG Consulting & Synesgy Platform: ESG consulting engagements and the Synesgy platform subscription for sustainability assessments, used by corporates and across supply chains.
5. Marketing & Sales Solutions: Sales and marketing tools (findbiz.gr), advertising in business publications, marketing data solutions for customer acquisition and prospect targeting.
6. Consulting & Professional Services: Fees for consulting engagements including digital transformation, financial management, compliance, customer analytics, business strategy, and training (Risk Training Institute).

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

ICAP CRIF provides credit risk management, business information, and ESG assessment solutions to banks, corporates, and government entities in Southeastern Europe. As an ESMA-certified Credit Rating Agency since 2011, it issues credit ratings for corporates, financial institutions, structured finance, project finance, and shipping, and operates the Synesgy global ESG platform, AI-powered MYRA credit risk analysis, and publishes 40+ annual sector studies on the Greek market.

Product overview

ICAP CRIF is a leading business information and credit risk management group serving southeastern Europe (Greece, Romania, Bulgaria, Cyprus) with over 60 years of experience. The portfolio is organized as a platform-plus-modules architecture centered on credit risk intelligence. The core offerings include ICAP CRIF Ratings (certified Credit Rating Agency under ESMA), Business Information Services, and the AI-powered MYRA credit risk platform. Key modules include Synesgy (global ESG platform), Risk.Profiler (banking solution), Data.Prisma (data analytics), findbiz (business directory), Adrenaline (marketing tools), ESG Consulting Services, Open Banking Solutions, and the Risk Training Institute. The company also publishes comprehensive Sector Studies covering 40+ Greek industries and offers the Credit.Eye monitoring service. Mobile access is provided via ICAP CRIF OntheGo application. D&B-branded products are offered through Dun & Bradstreet partnership.

Differentiator

Problem solved

Functional benefit

Brands

• Synesgy: Global ESG platform for sustainability assessment and ESG ratings
• MYRA
• Risk.Profiler
• Risk Training Institute
• Credit.Eye
• Data.Prisma
• findbiz
• Adrenaline

Products and services

• ICAP CRIF Ratings (Credit Rating Agency Services) ESMA-certified Credit Rating Agency providing Corporate, Structured Finance, Financial Institutions, Project Finance, and Shipping Credit Ratings and Scores for banks, financial institutions, and corporates in SE Europe.
• Business Information Services Comprehensive business information solutions providing company reports, financial data, credit risk assessments, and commercial intelligence on Greek and SE European companies. Targets banks, corporates, and government entities for credit risk and counterparty evaluation.
• Synesgy ESG Platform Global digital ESG platform enabling companies to assess and report on Environmental, Social, and Governance criteria; provides sustainability ratings and benchmarking for corporates and supply chains.
• Risk.Profiler Risk solution for banks providing credit risk intelligence, portfolio analysis, and risk scoring for financial institutions' lending decisions.
• MYRA - My Risk Analysis AI-powered digital platform for credit risk analysis, enabling companies and banks to assess counterparty risk using machine learning and predictive analytics.
• Credit.Eye Monitoring and alert service that tracks changes in credit ratings, financial status, and business information of monitored companies for ongoing risk management.
• Data.Prisma Advanced data analytics platform for business intelligence, company data analysis, and sector-level market intelligence.
• findbiz B2B business directory and search tool for Greek companies, enabling identification of business prospects and company information lookup for sales and marketing teams.
• Credit Passport Innovative credit assessment service providing comprehensive credit reports and risk evaluations for businesses.
• Adrenaline Marketing and sales solution platform supporting customer acquisition, lead generation, and sales pipeline management for B2B teams.
• ESG Consulting Services Advisory services helping companies develop ESG strategies, implement sustainability practices, and prepare for ESG reporting requirements.
• Open Banking Solutions Services enabling secure access to banking transaction data through open banking frameworks, supporting financial data analytics, credit modeling, and enriched decisioning.
• Risk Training Institute Educational institute providing training programs in credit risk management, compliance, and professional development for financial sector professionals across SE Europe.
• Customer Portfolio Analysis & Credit Risk Services Analysis of customer portfolios for credit risk assessment, portfolio quality evaluation, and risk management recommendations for banks and corporates.
• Industry Ratings Suite Sector-specific credit ratings and benchmarks enabling comparison of companies within their industry context, covering 40+ Greek industries.
• Sector Studies (Κλαδικές Μελέτες) Industry and sector research reports analyzing Greek market trends, sector performance, and economic indicators across 40+ industries; sold individually or via subscription via the online shop.

Quantifiable outcome

• 9 consecutive years of revenue and profit growth (through 2024)
• +3 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability6 records

Feature8 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• Date Firme (Romania)minorStrategic or Co-development Partner · 18 July 2024ICAP CRIF acquired Date Firme in Romania, expanding its footprint in the Romanian business information market. This is an expansion of the group's geographic reach through acquisition.
• CRIF S.p.A.coreStrategic or Co-development Partner · 23 December 2021CRIF S.p.A., a global leader in credit information and open banking solutions, acquired ICAP and rebranded it as ICAP CRIF in December 2021. The acquisition strengthened CRIF's leadership in the SE European credit information market. ICAP CRIF now operates as the Greek arm of CRIF, leveraging CRIF's global technology infrastructure, open banking APIs, scoring models, and international partnerships.
• Dun & Bradstreet (D&B)coreTechnology or IntegrationICAP CRIF distributes D&B products (D&B Hoovers, D&B Global Bankruptcy Reports, D&B Finance & Compliance Solutions) in Greece. The company is a D&B Worldwide Network member. CRIBIS D&B is the D&B entity integrated within ICAP CRIF's offerings for international business information and bankruptcy data.
• EASE (Greek Association of Marketing and Communication Executives)coreGTM or Marketing PartnerICAP CRIF co-publishes the EASE/ICAP CRIF CEO Index, a quarterly economic sentiment indicator surveying Greek CEOs. The partnership produces one of the most recognized economic barometers in Greece.
• European Securities and Markets Authority (ESMA)coreOthersESMA certifies ICAP CRIF as a Credit Rating Agency, granting it regulatory recognition under the EU CRA Regulation. This regulatory partnership enables ICAP CRIF to issue legally recognized credit ratings used by financial market participants across the EU.
• Hellenic Capital Market Commission (HCMC)coreOthersThe HCMC granted operating approval to ICAP CRIF as a Credit Rating Agency in Greece, working in conjunction with ESMA to regulate the company's rating activities.
• Trade Exchange Program Members (Banks & Corporates)coreStrategic or Co-development PartnerGreek banks and corporations that share B2B invoice and payment data with ICAP CRIF's Trade Exchange Program. Members contribute and access trading behavior data, creating a mutually beneficial data-sharing network.
• Piraeus BankminorGTM or Marketing PartnerPiraeus Bank serves as the payment processor for ICAP CRIF's online shop (Piraeus Bank Paycenter integration for credit/debit card transactions), enabling secure online sales of sector studies and reports.

Scale indicators6 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Bureau van Dijk (Moody's): Global private company information database (Orbis), now part of Moody's. Directly comparable in corporate B2B information, ownership data, and credit risk analytics; competes with ICAP CRIF in multinational credit decisions for Greek subsidiaries and SE European corporates.
• CRIF S.p.A. Italian parent company and global credit information / open banking leader. Directly comparable business model (business information, ratings, scoring, open banking APIs) and the entity that owns ICAP CRIF — its product roadmap and pricing set the framework for ICAP CRIF's offering.
• Cerved: Italy's leading business information and credit rating group (now under ION Group). Closely comparable as a domestic-anchored credit information + CRA franchise expanding into adjacent European markets, with similar product breadth (ratings, business reports, marketing data).
• Creditsafe: European and global business credit reports and monitoring provider. Direct competitor in subscription-based credit reports, monitoring alerts, and SME-focused business information; comparable customer base among banks and corporates.
• Allianz Trade (Euler Hermes): World-leading trade credit insurer and business information provider with CRA capabilities. Direct peer in combining credit ratings, business reports, and trade credit analytics for B2B counterparties, with overlapping European bank/corporate customer base.
• Dun & Bradstreet: Global business information and credit risk data vendor. ICAP CRIF distributes D&B products in Greece through its Worldwide Network partnership and competes against D&B's data in the SE European corporate market. Closest direct competitor in business information and credit reports.
• Coface: French credit insurer and CRA-adjacent business information provider offering corporate credit opinions and trade credit management. Comparable in combining CRA-style ratings, business information, and B2B credit risk analytics for banks and corporates.

Broad incumbents

• Experian: Global credit bureau, analytics, and business information incumbent. Overlapping in commercial credit data, scoring, and monitoring; broader portfolio but competes for the same enterprise contracts when Greek banks/fintechs choose pan-European data vendors.

Emerging players

• Modefinance: Italian-originated ESMA-registered CRA offering corporate, structured finance, and ESG ratings with proprietary scoring methodology. Comparable niche CRA + ESG positioning but smaller scale and earlier international expansion stage than ICAP CRIF.

Regional players

• Hellastat: Greece-domiciled credit rating agency (ESMA-certified) and business information provider. Closest local Greek competitor — overlapping rating services, business reports, and SE European intelligence but smaller scale and narrower product portfolio than ICAP CRIF.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/icap-crif

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Icap Crif