Helix Raises $2 Million in Pre-Seed Funding for Real-World Assets Protocol
A startup incubated by Helicap, a Singapore-based private credit business, has secured $2 million in pre-seed funding for its real-world assets protocol. Saison Capital and Superscrypt led the funding round, with participation from Emurgo Ventures, Comma3 Ventures, Outlier Ventures, Emoote, and others. The project’s goal is to facilitate blockchain-based lending to businesses across Southeast Asia. By combining proprietary credit assessment tools with a diverse range of credit opportunities, the platform aims to address the demand for sustainable yields within the crypto ecosystem. Jitendra Singh Jaitawat, co-founder and CEO of Helix and a former executive director at Goldman Sachs Technology, stated that the objective was to eliminate friction and offer the product within the native crypto ecosystem. Helix plans to target crypto businesses with stablecoin liquidity and is considering enabling institutional liquidity providers to trade tokenized loan assets before maturity.
Incubated by Helicap
Helix was incubated by Helicap, a private credit platform that has disbursed over $200 million in loans in Southeast Asia since its launch in 2018. Helicap itself raised $5 million from PhillipCapital and Tikehau Capital last year and has received $10 million in equity funding to date. The Helix protocol is scheduled to launch on Ethereum in Q4 of this year and may expand to other chains in the future. The pre-seed funding will be used to prepare for the launch and hire additional business development and engineering staff. Looi Qin En, a partner at Saison Capital, expressed confidence in Helix, citing their track record of facilitating private credit transactions and robust credit analytics. He believes Helix is well-positioned to meet the growing demand for credit and provide on-chain global liquidity to web3-native institutions seeking sustainable yield.
Hot Take
Helix’s real-world assets protocol has received significant pre-seed funding, indicating a strong belief in its potential to revolutionize lending in Southeast Asia. By leveraging blockchain technology, Helix aims to provide crypto businesses with sustainable yields and enable institutional liquidity providers to trade tokenized loan assets. The platform’s partnership with Helicap, a reputable private credit platform, further reinforces its credibility. With a planned launch on Ethereum later this year, Helix is poised to address the increasing demand for credit and offer innovative solutions within the crypto ecosystem.
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