DeFi platform Credix raises $11.25M to tie institutional investors with emerging market fintechs
Credix, a decentralized credix marketplace platform, has raised $11.25 million in a Series A funding round led by financial technology-focused venture capital firm Motive Partners and Cryptocurrency-focused outfit ParaFi Capital. The fresh capital injection will be used toward platform development, hiring and integration with other Web3 projects.
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The Credix platform aims to connects institutional investors such as large banks and hedge funds with credit fintechs and non-banking lenders in emerging markets who are looking to raise capital. Credix can handle the underwriting, and institutional investors can gain access to higher lending rates with a lower risk. Financing happens on-chain using the USDC stablecoin and smart contracts for transparency.
"Credix is currently available only in Brazil but has plans in place to expand into other emerging markets soon".
“Within the next decade, Debt Capital Markets will be on-chain and democratized," wrote founder and CEO of Credix Thomas Bohner in a Medium post. Credix is building the infrastructure and technology to enable this at scale – we’re developing a next-generation lending platform matching institutional investors and FinTech lenders."
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Other venture capital investors in the round included Valor Capital, MGG Bayhawk Fund, Victory Park Capital, Circle Ventures, Fuse Capital and Abra.
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