UP Series LLC is a Digital Credit Fund set up by Untangled Finance, a digital securitisation platform.
|Company Name||Untangled Finance Limited and UP Series, LLC|
|Asset Type||Trade Finance Assets|
|Pool Summary||Short term, diversified exposure in trade finance assets from multiple asset originators|
|MIP 6 Application||MIP6 Application - Untangled Finance DROP (U-DROP): Diversified Trade Finance Fund - Collateral Onboarding Applications - The Maker Forum|
( note: this questionnaire has not been altered. Answers come directly from the Asset Originator )
Please give a brief history of the company and, if applicable, group structure.
Untangled Finance was founded in 2020 by the same team who founded fintech Binkabi, a blockchain based supply chain trading and financing platform since 2017. Whilst Binkabi focuses on providing technology for asset origination, Untangled focuses on distribution of asset portfolios through its digital securitisation platform.
How many full-time equivalent team members do you have and what do they do?
7 - 4 engineers, CEO, COO, Head of Structuring (0.5) and Chief Economist (0.5).
Have you sold equity? Are you venture funded, if so please describe the previous rounds, money invested, and lead investors.
Untangled is funded by the founders and a number of angel investors.
Is your business sustainably profitable or well funded with sufficient cash runway?
Yes - Untangled is well funded and is revenue generating.
Describe the asset collateral that you seek to finance.
Participation interest in insured promissory notes issued by buyers in exchange for payment of invoices from their suppliers.
Describe your previous track record related to this business proposal.
What is the average collateral asset size?
Describe the risk of the assets you are proposing. How do you evaluate and manage that risk?
TFA are short term, often self-liquidating financing in both domestic and cross border trade. TFA traditionally has a very low default rate
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.
Are there or have there in the last 10 years, been 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 party should be aware of?