New funding round for credX AG: Tech entrepreneur Dominik Schiener acquires a stake of almost 10 percent in the fintech. The founder of the cryptocurrency IOTA and Chairman of the IOTA Foundation will actively help shape the future strategic development of credX AG, the
“With Dominik Schiener’s entry, we are continuing our growth trajectory. The expertise of our new investor supports us in further digitizing the complex processes involved in capital procurement for real estate and other companies through the use of modern technologies. The entire credX team looks forward to future collaboration with Dominik,” says Dr. Ralf Kauther, CEO of credX AG.
Dominik Schiener’s involvement supports credX in its endeavor to unlock the economic logic of digital marketplaces for complex and large-volume B2B financing processes as well. Both in terms of processes and products, the credX team and Dominik Schiener see numerous points of connection: credX will utilize Distributed Ledger Technologies on its existing regulated Transaction-as-a-Service platform to make transactions more secure, cost-effective, and independent of intermediaries. Simultaneously, it will increasingly make innovative financial instruments accessible to affiliated banks and institutional investors, in addition to traditional financing instruments such as loans, promissory notes, and bonds – for example, usage-based remunerated assets and security tokens.
Investor Dominik Schiener: “Many things impress me about credX: particularly that the startup has an excellent understanding of traditional processes and vigorously and persistently drives the improvements resulting from digitalization. Therefore, I see this fintech as a trailblazer for profound changes in financing and investment processes. I look forward to making a significant contribution to the further development of credX.”
Having already succeeded in making financing processes more efficient through the use of web and database technologies, the startup also aims to deploy novel technologies in the future, such as Artificial Intelligence (AI), the Internet of Things (IoT), and Distributed Ledger. This expands credX’s range of applications beyond proven instruments, for example, for innovative financing models for machines that are paid “per use.”