Credix has scored $2.5m from a seed funding round led by DRW Cumberland and ParaFi Capital.
The round also saw participation from Solana Ventures, Transfero Swiss BRZ Solana Ecosystem Fund, Fuse Capital, Petrock Capital, Parrot Finance, Mercurial, MGNR and other angel investors.
Credix – set to go live in January 2022 – is develop an enterprise-grade DeFi credit marketplace, which seeks to connect FinTechs in emerging markets with investors globally and help democratise credit.
The company is providing debt funding to four credit FinTechs and has already commited to fifteen others across Latin America. It is also planning to launch its Credix token next year.
According to Credix, borrowers, credit FinTechs and non-bank loan originators in emerging markets can borrow up to $20m USDC using their off-chain loan book as collateral, which they are then able to return lend to their clients in their local currency.
Credix noted it is planning to open up the liquidity pool during the first half of 2022, providing early access to its growing community.
Credix CEO and founder Thomas Bohner said, “We firmly believe that blockchain technology has the vast potential to disrupt the global debt capital markets. By bridging the world of decentralised finance with real-world assets, we can unlock huge value for the market. Credit in emerging countries costs up to 250% a year. With the confidence and commitment of our investors, we will be even better positioned to accelerate our mission to democratise credit investing with a positive impact.”
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