Belgian fintech start-up Credix raises €11.3m
The start-up will use the Series A funding to help connect institutional investors with lenders
The Belgian crypto startup Credix has raised €11.32m (£9.79m) in a Series A funding round which it says will be used to help connect institutional investors with lenders and bring uncollateralised loans to the emerging markets.
The company's founder and CEO, Thomas Bohner, confirmed the funding in a Medium blog post, saying that the funds will enable the firm to help bring its protocol and platform for credit investing to investors.
Bohner said: “Credix is building the infrastructure to enable this at scale — we’re developing a next-generation credit platform matching institutional investors and FinTech lenders. Within the next decade, debt capital markets will be on-chain and democratised.”
Motive Partners and ParaFi Capital co-led the round, with participation from Valor Capital, Victory Park Capital, MGG Investment Group, Circle Ventures, Abra, Fuse Capital, and Claure Group.
Access to international capital
Credix helps fintech firms and other non-bank lenders to convert their receivables and real assets into investment capital using USDC and smart contracts, a process it claims creates efficiencies and greater transparency.
The Series A round comes nine months after it raised €2.5m in a seed round with the focus to provide greater uncollateralised loans to the South American region.
Bohner said: “From the beginning, we have been focused on building the bridge between DeFi and real-world assets. The total DeFi market cap has decreased by 63% while Credix was able to grow 20-fold and originate $23m in active loans in only six months.
“Credix is currently live in Brazil, and expanding into other emerging markets soon.”