Invoice Finance Pool A
Invoice finance
Market price
0.94
Model value
0.96
Bid / ask
0.93 / 0.96
Next: 4 days
Implied yield
11.8%
Late payments 1.9%+0.7%
Professional private-credit market infrastructure
Private credit, marked by the market.
A data-fed secondary liquidity layer for private-credit pools. Verified repayment data, model-implied value, and market-clearing auction prices in one platform.
Private credit investors are often stuck with stale NAV, quarterly reports, and limited redemption windows. We make pool performance visible and allow professional investors to buy or sell exposure at transparent market-clearing prices.
Live private-credit pool markets
[Dashboard mockup placeholder]
38 buyers4 auctions
Performing
Merchant Revenue Pool B
Card revenue finance
Market price
0.82
Model value
0.88
Bid / ask
0.80 / 0.85
Next: 2 days
Implied yield
18.4%
Late payments 6.8%-2.1%
Restaurant Revenue Pool C
Revenue-based SME
Market price
0.57
Model value
0.71
Bid / ask
0.54 / 0.61
Next: 1 day
Implied yield
36.2%
Late payments 18.5%-8.6%
Trade Finance Pool D
Trade finance
Market price
0.91
Model value
0.93
Bid / ask
0.90 / 0.94
Next: 6 days
Implied yield
14.1%
Late payments 3.2%+0.2%
Problem
Private credit still trades like a black box.
Stale marks
NAV can remain stable even when repayment behaviour, borrower stress, or macro conditions are changing.
Limited exits
Investors may wait for quarterly liquidity, redemption windows, or manager approval instead of selling at a real market price.
Low transparency
Pool composition, borrower concentration, late payments, recoveries, and servicing quality are often difficult to compare across products.
Private credit has grown because investors want yield, but the infrastructure has not kept up. Many funds report monthly or quarterly marks, liquidity is limited, and investors often discover risk after the market has already changed.
Stale NAV
placeholderMarket-clearing price
placeholderSolution
A live pricing layer for private-credit pools.
The platform connects verified repayment data, pool-level risk modelling, and professional-investor auctions. The result is a transparent market price that updates as performance changes.
Verified repayment data
Connect originator, servicer, bank, payment, or accounting data to track real pool performance.
Model-implied value
Estimate fair value using expected cash flows, default distributions, recovery assumptions, liquidity discounts, and model-risk premiums.
Market-clearing auctions
Let eligible investors buy or sell exposure through periodic auctions where price clears naturally.
Originator data
Pool risk engine
Investor auction
Market price
Mock market
See private credit repriced in real time.
Mock market filters
Illustrative data only. No securities are offered on this page.
Pool detail
Every pool has a full risk and cash-flow view.
Restaurant Revenue Pool C
Stressed revenue-based SME pool
Sector: Restaurants / hospitality · Region: UAE · Borrowers: 86
Market price
0.57
Model-implied value
0.71
Discount to model
-19.7%
Implied yield
36.2%
Late payments
18.5%
Defaults
7.4%
Estimated recovery
42%
WA duration
8.2 months
Top 10 concentration
21%
Borrowers
86
Sector
Restaurants
Region
UAE
Price history
placeholderExpected versus actual repayments
placeholderLate-payment trend
placeholder[Cash-flow waterfall placeholder]
placeholder[Pool detail chart placeholder] Pool composition
placeholder38%
24%
21%
17%
Auction book
Restaurant Revenue Pool C
Indicative bid0.54
Indicative ask0.61
Last clearing price0.57
Next auction22 Jul
Eligible buyers38
Submitted sell interest$420k
Submitted buy interest$310k
[Auction book placeholder]
placeholderModel vs Market
The model estimates value. The market decides price.
The platform does not pretend risk can be calculated perfectly. The model gives an estimate based on cash flows, defaults, recoveries, liquidity, macro stress, concentration, servicing quality, fraud risk, and model error.
The market price shows what investors are actually willing to pay.
Model value
0.82
Market price
0.61
Difference
-25.6%
The market is pricing in additional uncertainty around data quality, recovery timing, borrower stress, or liquidity.
[Risk model visual placeholder]
placeholderLiquidity
Liquidity through price, not promises.
The platform does not guarantee exits at NAV. Sellers can exit only if buyers are willing to bid. But when price is allowed to fall, different buyers can emerge: income buyers, opportunistic buyers, and distressed buyers. This is more honest than pretending private-credit liquidity exists at a stale mark.
0.95income buyers
0.80value buyers
0.50distressed buyers
0.20recovery buyers
0.05deep-distress buyers
Product modules
Infrastructure for transparent private-credit markets.
Pool monitoring
Track repayments, late payments, defaults, recoveries, borrower concentration, collateral, servicer performance, and cash-flow variance.
Risk engine
Estimate expected value, implied yield, probability of loss, recovery distributions, liquidity premium, and model-risk premium.
Secondary auctions
Run periodic market-clearing auctions among eligible investors with full audit trails and transfer controls.
Investor workspace
Compare pools, submit bids, monitor exposure, receive alerts, and analyse price versus model value.
Originator portal
Upload or connect performance data, publish pool updates, manage reporting, and reduce investor uncertainty.
Compliance layer
Investor eligibility, document access, restricted transfers, disclosures, audit logs, and approval workflows.
Participants
Built for professional private-credit participants.
Private-credit investors
Get transparent pool data, market-clearing prices, and potential exits.
Family offices
Access private-credit exposure with clearer downside visibility and secondary price discovery.
Originators
Improve investor trust through verified reporting and structured secondary liquidity.
Distressed buyers
Find stressed pools trading below modelled recovery value.
Wealth platforms
Offer better private-market reporting and transparent liquidity workflows.
First use case
Start with short-duration, data-rich credit.
The first target assets are credit pools where repayment behaviour updates frequently and can be verified.
Suitable first asset classes
Invoice financeMerchant cash advance / card-revenue financeRevenue-based SME financeE-commerce seller financeTrade financeEquipment-backed loans
Avoid for now
MortgagesLong bespoke corporate loansOpaque illiquid loansSlow-reporting creditLegal-heavy collateralPoorly serviced debt
Trust principles
No fake stable NAV.
Bad news should move the price. Late payments, defaults, weak recoveries, macro stress, and servicer issues should be visible immediately. The platform is designed around transparent repricing, not hiding volatility.
Verified data over marketing claims
Market price over manager marks
Cash flows over narratives
Transparency over comfort
Exit at bid, not guaranteed NAV
Professional investors only
Access
Help build the market layer private credit is missing.
We are speaking with originators, credit investors, family offices, servicers, and private-market professionals interested in transparent secondary liquidity for private-credit pools.