Antwerp-based Credix, a decentralised credit marketplace connecting investors with fintechs in emerging markets, announced on Tuesday, September 6, that it has raised $11.25M (approximately €11.13M) in a Series A round of funding.
In December 2021, the company raised $2.5M in an early-stage Seed round funding with an aim to disrupt the global debt capital markets.
Credix says the funds from the current round will help it to accelerate the development of its platform, increase its workforce, and integrate with Web3 projects.
Investors in this round
The Series A round was led by Motive Partners and ParaFi Capital. Other investors include Valor Capital, MGG Bayhawk Fund, Victory Park Capital, Circle Ventures, Fuse Capital, and Abra.
Motive Partners is a specialist private equity firm focused on investing, building, and buying technology companies that enable the financial economy. The firm has over $5.5B in assets under management and serves five primary subsectors: banking & payments, capital markets, data & analytics, wealth & investment management, and insurance.
ParaFi is a crypto-native investment and technology firm that focuses on token, venture, and quantitative strategies. The firm manages more than $1B in AUM across digital assets, venture equity, and quantitative strategies.
Credix – Everything you need to know
Founded in 2021 by Thomas Bohner, Maxim Piessen and Chaim Finizola, Credix has introduced a decentralised debt capital markets ecosystem wherein asset originators can tokenise and securitise their assets, and subsequently finance them through decentralised credit markets.
Co-founder Thomas Bohner says, “From the beginning, we have been focused on building the bridge between DeFi and real-world assets (RWA). Since our launch, it has become increasingly clear that RWA can bring sustainable and scalable growth to the DeFi ecosystem. The total DeFi market cap has decreased by 63 per cent while Credix was able to grow 20-fold and originate +$23M in active loans in only 6 months.”
With the help of the Credix platform, fintech firms and other non-bank lenders can now generate investment money from their receivables and real estate. Using USDC & smart contracts, all funding takes place on-chain, resulting in immediate efficiency, settlement, and increased transparency.
Growth and development
The company recently launched V2, featuring multi-tranche structures, and arbitrary repayment schedules to allow for more complex deals. Since its launch, A55 (revenue-based financing), Tecredi (car loans), Descontanet (SME financing), Provi (student loans), Adiante (SME financing), and Divi Bank (SaaS financing) raised debt financing on Credix.
The company says, “We’re now working with dozens of new fintech’s, like MeuTudo, to launch more deals. Because of Credix’s strong focus on risk management and underwriting we have been able to attract institutional investors, such as Rockaway & MGG Investment Group, as liquidity providers on the platform.”
Specialised underwriters like Almavest, Addem Capital, and Cauris have also joined Credix’s platform to source, underwrite, and provide first-loss capital. Currently, the company is live in Brazil, and is looking to expand into other emerging markets soon.
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