Belgian Credix secures 11.1 million euros for a new decentralized credit market to connect investors to fintechs
Antwerp-based Credix, a decentralized credit marketplace connecting investors to emerging market fintechs, announced on Tuesday September 6 that it had raised $11.25 million (approx. a Series A financing round.
In December 2021, the company raised $2.5 million in a first round of seed funding in an effort to disrupt global debt capital markets.
Credix says the funds from the current round will help it accelerate its platform development, grow 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 private equity firm specializing in investing, building and buying technology companies that promote financial economics. The company manages more than $5.5 billion in assets and serves five primary subsectors: banking and payments, capital markets, data and analytics, wealth and investment management, and l ‘insurance.
ParaFi is a crypto-native investment and technology company that focuses on token, venture capital and quantitative strategies. The firm manages over $1 billion in assets under management across digital assets, venture capital and quantitative strategies.
Credix – Everything you need to know
Founded in 2021 by Thomas Bohner, Maxim Piessen and Chaim Finizola, Credix has established a decentralized debt capital markets ecosystem where asset originators can tokenize and securitize their assets and then fund them through credit markets decentralized.
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. Total DeFi market cap decreased by 63% while Credix was able to grow 20x and generate +$23M in active loans in just 6 months.
With the help of the Credix platform, fintech companies and other non-bank lenders can now generate investment funds from their receivables and real estate. Using USDC and smart contracts, all funding takes place on-chain, resulting in immediate efficiency, settlement, and increased transparency.
growth and development
The company recently launched V2, with multi-tranche structures and arbitrary repayment schedules to allow for more complex transactions. Since its launch, A55 (revenue-based financing), Tecredi (car loan), Descontanet (SME financing), Provi (student loan), Adiante (SME financing) and Divi Bank (SaaS financing) have raised debt financing on Credit.
The company says, “We are now working with dozens of new fintechs, like MeuTudo, to initiate more transactions. Thanks to Credix’s 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.
Specialist underwriters like Almavest, Addem Capital and Cauris have also joined the Credix platform to find, underwrite and provide first loss capital. Currently, the company is established in Brazil and plans to expand into other emerging markets in the near future.
Watch our interview with Paul Down, Head of Sales at Intigriti.