Farukh Kitchlew | Feb 19, 2024 | 0
Kilde receives $1.115 million to fund a project to tokenize securities.
Kilde, a private debt platform, has secured US$1.115 million in seed funding from backers, including Big Sky Capital, Borderless Capital, AXL Ventures, and Algorand Foundation. SafeBay’s project to tokenize securities and expand its private credit offerings will benefit from additional funds. Kilde, founded in 2019, offers accredited and institutional investors access to private credit deals with the potential to generate annual returns of up to 13.5% per year, with 11.9% yearly returns given to investors. Other investors include Algorand Foundation, Big Sky Capital VC, Borderless Capital, and AXL Ventures.
Kilde CEO Radek Jezbera has seen a spike in family offices and high-net-worth individuals’ interest in private credit investments in 2023, allowing them to focus on bigger deals and bargain for better terms. In his LinkedIn post, he wrote, “Most family offices and individuals have limited access to private debt investments. Kilde is dedicated to bringing a robust solution that bridges the gap between traditional banking products and alternative financing options.”
Jahn Karsybaev, Managing Partner at Big Sky Capital, said, “The past three months have proven to be the most conservative for investors. Robust solutions like Kilde provide diverse investment opportunities regardless of market conditions.”
Kilde’s new project, SafeBay, a treasury management system, will help blockchain-native businesses manage their short-term financial assets and collaborate with the Algorand Foundation to construct facilities for fixed-income capital markets. It is expected to be available by the third quarter of the year. Kilde holds a license 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.
Bjorn Halta, Director of SafeBay, said, “Real-world-asset tokenization presents a compelling application in the form of collateralization. This function, which has proven successful in traditional finance’s credit markets over decades, holds great potential when transferred onto the blockchain.”