IOTA’s Dominik Schiener invests in fintech startup credX

COLOGNE, Germany, March 2021 - credX AG, the FinTech startup that builds platforms for B2B commercial financing, adds one of crypto’s stars to its list of strategic backers, as Dominik Schiener invests in the startup and now holds a 10%. Schiener’s portfolio also includes a major stake in Xayn, an ethical AI web search startup out of Berlin. This most recent investment in credX further establishes Schiener’s influence in the next generation of digital infrastructure. 

Schiener's entry into credX underlines and strengthens credX´s ambition to apply the economic rationale of digital marketplaces to complex B2B financing processes. Through their web and data-based processes and technologies, credX has already made traditional financing more efficient. With Schiener on board, the start-up will apply innovative digital technologies -- distributed ledgers, Internet of Things (IoT), and artificial intelligence (AI) -- toward broadening its base of B2B financing use cases.

The credX team and Schiener identified a variety of novel use-cases, which they intend to jointly develop. For example, many of the SaaS platforms that credX currently offers will be brought into a distributed ledger environment, to leverage the increased safety, decreased fees, and immediacy that decentralization provides. At the same time, in addition to the traditional financing instruments of loans, promissory notes, and bonds, credX intends to make available to affiliated banks and institutional investors a broadened range of innovative financial instruments, for example pay-per-use remunerated assets and securities tokens.

 "With the entry of Dominik Schiener, we are continuing our growth journey. The deep tech know-how and experience of our new investor will help us to further digitalize the rather complex processes involved in raising capital for real estate companies and corporates. The entire credX team welcomes Dominik and is looking forward to working with him in the future on many exciting projects," says Dr. Ralf Kauther, CEO of credX AG.

"There are many things that impress me about credX, not least of which is the fact that the startup has a deep understanding of traditional financing and capital-raising processes,” said Schiener. “Personally, I see credX as very well positioned in the fast-changing environment of financing and investment processes. I am very happy to be supporting credX in its further development."