Protocol for financing based in Solana Credix and a US alternative investment management company that specialises in asset lending opportunities have partnered to achieve $60 million in credit financing. A $3 billion investment portfolio is managed by the company. Through a digital startup platform, the credit financing will supply priority debt to support small and medium-sized firms (SMEs) in the Latin American region. Brazilian SMEs will benefit from the first $7.5 million of the loan through funding for accounts receivable.
Credix concluded a $11.25 million Series A fundraising round, co-led by Motive Partners and ParaFi Capital, with participation from Valour Capital Group, Victory Park Capital, MGG Bayhawk Fund, Circle Ventures, FuseCapital, and Abra, as previously reported by Foresight News in September 2022. The money raised will go towards expanding into the Latin American region and stepping up platform development, team building, marketing, and integration with Web3 initiatives.