Cicada (Pre-Seed)
Funding Details
- Awarder
- Inbox
- Date Award
- October 04, 2023
- Vertical
- Credit Risk Management
- Funding URL
- View Funding Page
- Funding Amount:
- $9,700,000
Company Info
- Founders
- Sefton Kincaid
- Company Description
- Cicada is an on-chain credit risk management company founded by a seasoned team of former buy and sell-side credit professionals. Cicada's co-founders have deep crypto lending expertise, having underwritten $850m in loans at a 1.2% default rate during the prior cycle. Created following the collapse of FTX, Cicada facilitates the growth of institutional lending on public blockchains by enabling lenders to participate in risk-managed non-custodial lending products.
- Market
- Institutional Lending on Public Blockchains
- Location
- Boston, MA, USA
- Coinvestors
- Bitscale, Bodhi Ventures, Shiliang Tang