Cadence is a digital securitization and investment platform who uses distributed ledger technology for enabling a digital securitization of private credit investment products. Helping in creating a transparent and efficient capital market than before is a purpose of Cadence.
Private credit is one of the fastest-growing asset classes in private capital markets. It has reached a compound annual growth rate of around 20%.
The digital securitization and investment platform Cadence has raised $2 million in a fundraising round in 2019. Recharge Capital led the funding round. Cadre, Care/Of, dv01, RigUp, and Uala are the portfolio companies of Recharge Capital. Fantail Ventures, Argo Ventures, Coinbase Ventures, and blockchain are institutional investors who took part in the funding round. The current and former senior executives from various banks and asset managers are strategic angel investors who also took part in the funding round.
Nelson Chu is the founder and the Chief Executive Officer (CEO) of Cadence who said, “The securitization market for private credit has been in desperate need of innovation, especially when it impacts so much of our economy today. Think about the granola bar company that just got their first big purchase order from Whole Foods that they can’t fulfill or the mobile app developer that needs to make payroll while Apple takes 45 days to pay out their earnings from the App Store. Cadence is doing its part to help power the growth of small to medium sized enterprises by providing them market-driven cost efficiencies.”
The digital securitization and investment platform Cadence has created a suite of software and services. Streamlining the digital securitization fully is a purpose behind the suite. Cadence is created by keeping institutional investors in mind. It is created by keeping in mind not only the institutional investors but retail investors are also kept in mind for the creation of Cadence, PRNewswire reported.