8vdX, a technology-enabled category-first venture debt marketplace for start-ups, is expanding its operations in international geographies like United Kingdom (UK), Singapore, and Australia. The company aims to offer cross-border venture debt to start-ups through local entities in these geographies. By 2024, 8vdX aims to fund 100 start-ups in these countries with an AUM of $200million.
8vdX will be able to offer early-stage start-ups bridge financing to their Series A or Series B rounds by providing venture debt to meet their goals and extend their runway. Additionally, start-up founders can easily and conveniently obtain venture loans through an intuitive interface and choose to repay in their local currency including the British Pound, Singapore Dollars and Australian Dollars. The 8vdX loan is a good solution for early-stage start-ups who need additional funding to accelerate their growth prior to raising their next round of funding, at an attractive valuation.
Ravi Chachra, co-founder of 8vdX said: “We are delighted to announce the expansion of our operations in key markets like UK, Singapore and Australia within just eight months of launching 8vdX. We aim to offer a cross-border venture debt solution to the start-ups in these countries so that founders can spend more time on their businesses and less time on chasing small ticket investors. Start-ups do not require the ‘flip’ process in order to raise cash. We are working to solve a significant problem that start-ups and rapidly expanding businesses with a global presence are facing, and we’ll keep innovating to remove friction in the venture funding market.”
The company provides flexible, founder-friendly loans. If the firm is unable to pay back the loan, 8vdX has the option of turning the debt into equity or continuing to be a lender, therefore it does not seek personal guarantees from the founders or force start-ups to file for bankruptcy. Start-ups can choose to pay interest in the form of equity or a combination of equity and cash. There are no cash flow sweeps from the start-up’s bank account, and the 8vdX loan has no impact on the founders’ personal credit history. 8vdX chooses start-ups for underwriting and funding approval using data-driven underwriting techniques that are driven by their KPIs’ and growth metrics.
The company recently completed a successful $3million seed fund raising round, from investors like GMO Venture Partners (RazorPay, Drip Capital, MobiKwik, Treasury Prime, InstaMojo), Zillionize (Cruise, Boom, Rippling), Cathexis, Grant Park, Asymmetry Ventures, Earlsfield Capital Partners, and Fox Ventures.
As a member of Y Combinator’s (YC) winter batch of 2022, 8vdX provides founder-friendly venture loans with minimal dilution to assist startup founders accelerate their growth across sectors and geographies. 8vdX marketplace has an AUM of $10million and has funded more than 20 early-stage start-ups since inception, including three from India and four from Africa. 8vdX is rapidly expanding its worldwide footprint and is sector agnostic.