Kasu

Formed as a joint venture between Apxium Technologies (an Australia-based FinTech accounts receivables automation platform) and Faculty Group (a Web3 consortium), Kasu offers a blockchain-based platform that connects DeFi lenders with real-world business borrowers. Lenders can deposit their crypto funds, which are converted to denominated pool currency, and earn risk-adjusted fixed and variable yields, while business borrowers can submit funding opportunities for review, acceptance, and addition.

As of January 2024, Kasu primarily extended its lending services to Apxium clients, which included accounting firms in the US, Canada, the UK, and Australia. Furthermore, the company also stated that its client base represents ~USD 150 million invoice financing opportunity for Kasu in the first year of operation. The solution leverages Apxium’s receivables and payables automation solutions to reduce accounts receivable administration and debtor days as well as reduce the risk of debtor’s positions before advancing funds against outstanding invoices.

Moreover, the platform offers its native token, KSU, which enables users to receive yield bonuses, a share of the protocol fees, and early access to new tranches and pools.

Funding and financials

In January 2024, Kasu raised USD 3 million in seed funding led by Woodstock, Morningstar Ventures, and Faculty Group to further develop its platform.