Cadence operates a securitization platform on top of the Ethereum blockchain that helps originators package and sell asset-backed securities while giving investors improved, verifiable asset performance data. The platform generates revenue from transaction fees and hosting performance data for underlying loans. To date the company has structured $88 million in notes across 76 offerings and 12 originators on its retail platform, and it completed a $40 million whole-business securitization for FAT Brands that cut that borrower’s interest costs by $2 million. Cadence’s public leaderboard shows its largest originators include Sellers Funding (~$23M) and Wall Street Funding (~$26M), and the company said it was the 21st largest structuring agent in the U.S. in 2020 so far. Longer term, the company plans to transition to a primarily SaaS model for originators and buyers to increase efficiency and align incentives across counterparties.

Total raised

$4M

Funding rounds

1

Latest round

Seed

Latest activity

Apr 2020