Fintech Startup Credix Nabs €11.32M For Building Lending Platform On Blockchain Tech

September 06, 2022 | 2 minutes read

To build Credit Platform on Blockchain technology the fintech startup Credix nets €11.32M.

In the world where Blockchain technology is on exponential rise, a fintech startup Credix is ready to make its mark. With an aim to construct the lending platform on  blockchain technology, the startup has gathered funding of  €11.32M in the latest Series A funding round. Led by  Motive Partners and ParaFi Capital including backers  Valor Capital, Victory Park Capital, MGG Investment Group, Circle Ventures, Abra, Fuse Capital and Claure Group. Also,  angel investor  Ricardo Villa Marina, chairman of Itau LatAm participated.

Fascinating Growth of Blockchain

The fascinating growth in blockchain technology is mainly because of security, transparency and traceability-bestowing it with the trust of investors, tech moguls, entrepreneurs and business people.  Also, as per stats, the worldwide spending on blockchain is expected to reach 19 billion U.S. dollars by 2024.

Although, most of this increase comes from the development of blockchain mobile apps focused on fintech as well as education.

Credix: Use Cryptocurrency as Means of Investment

Now Credix with its grandeur motive of connecting investors with credit companies in the emerging market is here. Founded in 2022,  the startup allows investors to use cryptocurrency as their means of investment in the emerging markets. The credit company receives stable coins and converts them into local currency before offering loans to their end customers.

Future Plans of Credix With Investment

Now this heavy new investment in the wallet will allow the startup to surpass the $100-million mark. The company states that credit companies in several emerging markets have borrowed more than $25 million via the platform in recent months.

CEO and founder Thomas Bohner said:

“With the substantial injection of capital, we want to further innovate and scale up our global credit infrastructure. We want to expand our teams in Antwerp, New York and Sao Paulo in the short term. We are also focusing on expanding the ecosystem of funds, investors, and credit companies.”

The company also plans to expand into Mexico and Colombia where access to bank loans is still expensive.