Cauris is a mission driven, technology-enabled company that provides capital to fintechs. Our financing to fintechs provide much needed capital to financially excluded consumers and SMEs in international markets, in Africa,Asia and Latin America.
|Asset Type||Fintech Debt|
|MIP6 Application||MIP6 Application: Cauris Global Fintech Fund - Collateral Onboarding Applications (MIP6) - The Maker Forum|
Please give a brief history of the company and, if applicable, group structure.
Cauris was established in 2021, with the goal to give 100 million more people access to capital through our fintech borrowers. Cauris provides financing to fintechs (1 to 3yr loan terms) who in turn lend to consumers and SMEs using data driven approaches in their underwriting and portfolio management. The loans that fintechs give to their customers are typically of low amounts (less than $1,000) and have a short duration (7 to 90 days on average).
Please give an overview of the legal structure.
Cauris has launched Cauris Global Fintech LLC (“Issuer”), a Delaware Limited Liability Company, which will offer for sale to investors tokens, corresponding to certain payment obligations owed to the Issuer by various fintechs
How many full-time equivalent team members do you have and what do they do?
Cauris has 3 co-founders/ full time employees and a part-time legal counsel.
Alexandre Liege (Co-founder/ CEO) heads the company and drives business development. Alex brings industry expertise in fintech having recently served as Head of Product and Credit at Juvo (fintech lender) and previously launched a mobile money payment network in Africa and Latin America
Azer Songnaba, CFA (Co-founder/ Chief Investment Officer) heads the investments functions (underwriting, structuring and portfolio management). Azer brings a wealth of experience in risk management, structured finance from Goldman Sachs and Mastercard.
Charles Packer (Co-founder/ Chief Technology Officer) heads our technology solution. Charles brings a wealth of knowledge in engineering, smart contracts and blockchain technology. He recently served as Head of Engineering at Juvo and Gaia.
Ramesh Dhanaraj ( Legal Counsel) structures deals from a legal standpoint. Ramesh has decades of experience in Early stage equity investments and private credit at Fortress Investment Group, and worked as a financial services lawyer at Sidley Austin and Blank Rome.
Have you sold equity? Are you venture funded, if so please describe the previous rounds, money invested, and lead investors.
Cauris has raised $600K of funding from a venture capital firm.
Is your business sustainably profitable or well funded with sufficient cash runway?
Cauris has secured revenue and cash runway for two years worth of activity and with our projections we expect to turn profitable within a year.
Describe the asset collateral that you seek to finance.
Describe your previous track record related to this business proposal.
To date, Cauris has originated $10M of financing with no default. Our loans are senior secured facilities extended to reputable fintechs.
What is the average collateral asset size?
Our financings will vary from $500K to $10M in size, disbursed in tranches
Describe the risk of the assets you are proposing. How do you evaluate and manage that risk?
The main risks associated with fintech lending revolve around the performance of the underlying portfolio which in turn depend on the fintech ability to assess borrowers’ creditworthiness and collect on payments. Cauris utilizes a strong risk management which consists of:
- Asset level underwriting
- Evaluation of fintech strategy
- Due diligence of operations (underwriting, disbursement and collection policies) & management team
- Historical portfolio & financial Analysis
- Structural Protections
- Perfected security interest in assets of fintechs
- Robust collateral coverage covenants
- Bankruptcy remoteness of issuer, with independent director
- Investment diversification across geographies and types
- Significant TIN buffer
- Peer set analytics to inform underwriting decisions
- Dynamic monitoring of compliance with covenants
- Predictive analysis to anticipate losses
- On-chain transparency
- Full visibility into borrower asset performance
- On-chain decisioning of future financing
Please describe any conflicts of interest or potential conflicts of interest or any relationship that could compromise or be viewed to compromise the decision making of the company.
None to disclose
Are there or have there been in the last 10 years, any criminal, civil, regulatory or administrative proceedings against (i) the Company or any of its principals or (ii) the product in any similar such matters including reparations, arbitrations, and negotiated settlements? If so, please describe.
Are there any further disclosures that interested parties should be aware of?