Singapore-based digital private debt platform Kilde has secured US$1.12 million in seed funding from Big Sky Capital, Borderless Capital, AXL ventures, Algorand Foundation, and undisclosed angels.
With this money, Kilde aims to enhance its features, scale operations, and expand its market reach.
The fresh funds will also empower Kilde to drive the development of its newest flagship project SafeBay, a new treasury management system. This system, built on blockchain technology, is designed to help blockchain-native companies manage their short-term financial assets.
With SafeBay, Kilde aims to provide a full range of credit products compliant with industry regulations and can operate on the blockchain. In partnership with the Algorand Foundation, SafeBay will establish a regulatory-compliant infrastructure that bridges off and on-chain fixed-income capital markets. This approach lays the groundwork for a secure and compliant financial ecosystem.
Safebay is planned to launch to the public in Q3 of 2023.
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“To date, we have witnessed a surge in interest in private credit investments in 2023 from the family offices and HNWIs. Greater liquidity from investors allows us to focus on larger deals and negotiate better terms,” said Radek Jezbera, CEO of Kilde.
Founded in 2019, Kilde is an investment platform tailored for individuals and institutions. Investors can subscribe to bonds issued by Kilde’s borrowers, granting them entry into a diversified portfolio of consumer and SME lending companies. The security of the bonds is reinforced by cash-generating collateral in the form of receivables from the underlying loans.
Kilde holds a licence from the Monetary Authority of Singapore to deal in capital markets products and is registered as an Exempted Financial Adviser under the Securities and Futures Act.
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