Kasu
Kasu is an Australia-based DeFi RWA lending protocol that pools on-chain capital from DeFi lenders and deploys it, via Credit Originators led by Apxium Technologies, into invoice, WIP and tax- obligation financing for high-creditworthy accounting firms, law firms and businesses across the U.S., Canada, Australia and the U.K., using a three-tranche structure and USDC settlement.
- Company typePrivate
- Founded2022
- HeadquartersAdelaide, Australia
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Kasu does
Kasu is an Australian DeFi protocol that intermediates capital between on-chain lenders and real-world businesses via approved Credit Originators. Founded in 2022 and headquartered in Adelaide, the protocol's first and currently sole disclosed Credit Originator is Apxium Technologies Ltd, whose Accounts Receivable Automation Software and Smart Payments rails provide real-time visibility into the invoices, WIP ledgers and tax obligations of high-creditworthy accounting firms, law firms and diversified businesses across Australia, the U.S., Canada and the U.K. Lender capital is pooled into three lending strategies — Professional Fee Funding, Whole Ledger Funding and Taxation Funding (Tax Pay) — and allocated across Senior, Mezzanine and Junior tranches, with losses absorbed first by the lowest-ranking tranche. Funds are USD-denominated and settled in USDC, with lenders onboarding through KYC/KYB and a self-service web3 wallet flow operating on 7-day epochs with clearing periods.
The protocol's technology stack combines blockchain-based lending infrastructure (smart contracts, the Kasu Oracle, and the $KASU utility token used for locking, loyalty tiers and protocol fee sharing) with deep data integration into Practice Management Software via SQL read/write access, enabling automated payment write-backs and real-time ledger updates. Underlying risk monitoring rests on Apxium's 8-year track record managing US$2.5B+ of annual invoices with a 0% historical loss rate on the Professional Fee Funding book, providing the credit data backbone that distinguishes Kasu from generic RWA lending platforms. Kasu monetises via a 10% take of lender interest (5% to Protocol Fee Sharing, 5% to the Kasu Protocol wallet), while borrowers benefit from up to 50% reductions in debtor days, ~50% lower administrative overhead, and 30-40% savings on payment-processing fees. The company has raised approximately $4 million to date across a $3 million seed round in January 2024 (co-led by Woodstock, Morningstar Ventures and Faculty Group) and a $1 million strategic investment from XDC Network in September 2025.
Kasu firmographics
Firmographics- Name
- Kasu
- Legal name
- Kasu
- Website
- https://kasu.finance
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Kasu is an Australia-based DeFi RWA lending protocol that pools on-chain capital from DeFi lenders and deploys it, via Credit Originators led by Apxium Technologies, into invoice, WIP and tax- obligation financing for high-creditworthy accounting firms, law firms and businesses across the U.S., Canada, Australia and the U.K., using a three-tranche structure and USDC settlement.
- Ownership category
- akta.pro rank
Kasu industry classification
Industry- Product category
- DeFi Lending Protocol
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Decentralized Lending & Borrowing Protocols (FSADAMAA)
- akta.pro secondary industries
- Borrowing/Lending Risk & Credit Infrastructure (on-chain credit scoring, risk engines, insurance wrappers) (FSAPAEAI), Institutional DeFi & On-Chain Liquidity Infrastructure (Permissioned DeFi, Lending) (FSAGAMAG)
Keywords
Where Kasu is headquartered
LocationHeadquarters
- HQ city
- Adelaide
- HQ country
- Australia
- HQ region
- Oceania
Offices1 record
Markets served
Kasu business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Operations, Marketing or Sales, Personnel, Infrastructure
Revenue model
- Protocol Fee Sharing: 5% of total interest earned by Lenders is allocated towards Protocol Fee Sharing. This is a recurring revenue stream derived from lending activities.
- Kasu Protocol Wallet Fee: 5% of total interest earned by Lenders is allocated to the Kasu Protocol wallet. Example: if a Lending Strategy offers 20% gross APY, 1% APY goes to Kasu Protocol wallet.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Senior Tranche - Lower risk, lower yield |
| Transaction based/ take rate | Pay-as-you-go | Mezzanine Tranche - Medium risk, medium yield |
| Transaction based/ take rate | Pay-as-you-go | Junior Tranche - Higher risk, higher yield |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Kasu product offering
Product offeringCore offering
Kasu is a distributed, blockchain-based Real World Asset (RWA) lending protocol that connects DeFi Liquidity Providers with Real World Yield Providers. Lenders connect Web3 wallets and submit Lending Requests denominated in USDC, with funds deployed through a Credit Originator (currently Apxium Technologies Ltd) to professional services firms and creditworthy businesses via tranche-structured lending strategies. The platform operates in 7-day epochs with Clearing Periods for loan allocation, offers Senior/Mezzanine/Junior tranches with loss-apportionment, and integrates Apxium's Accounts Receivable Automation and Smart Payments technology for risk monitoring and repayment processing.
Product overview
Kasu is a Real World Asset (RWA) business lending protocol that operates as a unified platform with multiple lending strategies. The protocol's core product connects lenders with businesses through three main lending strategies: Professional Fee Funding (PFF) for accounting firm invoices, Whole Ledger Funding (WLF) for accounts receivable and work-in-progress of professional services firms, and Taxation Funding (Tax Pay) for tax obligations. The $KASU token provides utility functions including token locking for loyalty benefits and protocol fee sharing. The platform is built on blockchain technology and accessed via web3 wallets.
Differentiator
Problem solved
Functional benefit
Products and services
- Kasu RWA Lending Protocol
- Professional Fee Funding (PFF)
Quantifiable outcome
- 0% historical loss rate over 8 years validated through Professional Fee Funding strategy
- +4 more outcomes
Companies that use Kasu
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Kasu technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Kasu partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Apxium Technologies LtdcoreKasu's Credit Originator launch partner and technology partner. Apxium is an award-winning SaaS+Fintech business providing Accounts Receivable Automation Software and Smart Payments technology. Through this partnership, Kasu and Apxium deliver innovative Receivables and Payables financing solutions. Apxium's technology manages over US$2.5b of annual invoices across top 50 Accounting Firms in U.S., Canada, Australia and U.K.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Kasu competitors and assessment
Company assessmentDirect peers
- Maple Finance: Maple Finance is a leading on-chain credit marketplace for institutional and accredited lenders, offering undercollateralized loans to creditworthy borrowers. It is the closest direct competitor to Kasu in connecting DeFi capital to real-world credit underwriting, with a similar pool-based structure and direct comparison along risk-stratified lending.
- Goldfinch: Goldfinch is a decentralized credit protocol that enables lending to real-world businesses without crypto-native collateral, using a trust-based model with auditor backing. Like Kasu, it focuses on bringing real-world receivables and business credit on-chain for DeFi lenders, making it a directly comparable RWA lending protocol.
- Centrifuge: Centrifuge tokenizes real-world assets (including invoices and receivables) and brings them on-chain for DeFi liquidity via Tinlake pools. Its invoice/receivables financing model and Tinlake tranche structure closely mirrors Kasu's Professional Fee Funding and Senior/Junior tranche design.
- TrueFi: TrueFi is a DeFi protocol for uncollateralized lending built on credit scoring and risk assessment. Both Kasu and TrueFi focus on uncollateralized (or in Kasu's case, end-borrower-secured) lending to creditworthy borrowers, with risk tranching and on-chain credit assessment.
- Clearpool: Clearpool operates a decentralized credit marketplace where institutional borrowers access uncollateralized liquidity from DeFi lenders. It shares Kasu's model of connecting vetted real-world borrowers with DeFi capital pools, with comparable risk structuring.
- Credix: Credix is a decentralized credit marketplace that finances real-world businesses through structured credit pools, including receivables and trade finance. Its focus on connecting DeFi liquidity with off-chain credit originators and tranche-based structuring makes it a directly comparable RWA lending peer to Kasu.
Emerging players
- Morpho: Morpho is a DeFi lending optimization protocol that sits atop Aave and Compound to improve capital efficiency. While not focused on RWA lending directly, it competes for the same DeFi lender capital seeking optimized risk-adjusted yields that Kasu targets with its tranche structure.
Broad incumbents
- Aave: Aave is the largest decentralized lending protocol with broad crypto-collateralized lending markets. While Aave focuses on overcollateralized crypto lending, it competes for the same DeFi lender pool and has expanded into RWA segments, making it a broad incumbent benchmark for Kasu.
- MakerDAO (Sky): MakerDAO (now Sky) operates one of the largest decentralized credit systems and has meaningfully expanded into RWA lending through its RWA vaults. As a broad incumbent with significant institutional RWA exposure, it represents the most capitalized peer in the on-chain credit market Kasu competes in.
Others
- Apxium Technologies: Apxium is Kasu's core technology partner and sole Credit Originator, providing the Accounts Receivable Automation and Smart Payments infrastructure underlying Kasu's lending strategies. Although a partner rather than competitor, Apxium's technology and credit track record are integral to Kasu's offering and any disruption would directly affect the protocol.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Kasu social profiles
Digital presenceKasu financial estimates
Financial estimateRevenue estimate
Valuation estimate
Kasu leadership team
Management profileNumber of profiles
Kasu funding detail
Funding detailFunding overview
Funding rounds2 records
Investors11 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Kasu M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Kasu
What does Kasu do?
Kasu is a distributed, blockchain-based Real World Asset (RWA) lending protocol that connects DeFi Liquidity Providers with Real World Yield Providers. Lenders connect Web3 wallets and submit Lending Requests denominated in USDC, with funds deployed through a Credit Originator (currently Apxium Technologies Ltd) to professional services firms and creditworthy businesses via tranche-structured lending strategies. The platform operates in 7-day epochs with Clearing Periods for loan allocation, offers Senior/Mezzanine/Junior tranches with loss-apportionment, and integrates Apxium's Accounts Receivable Automation and Smart Payments technology for risk monitoring and repayment processing.
Is Kasu a public or private company?
Kasu is a private company. It is classified as venture growth investor backed and is currently operating.
When was Kasu founded?
Kasu was founded in 2022. It employs 1 to 10 people.
Where is Kasu based?
Kasu is headquartered in Adelaide, Australia, in the Oceania region.
How does Kasu make money?
Two revenue lines are on record. Protocol Fee Sharing is the primary driver. The others are kasu Protocol Wallet Fee.
Who are Kasu's main competitors?
Direct peers on record are Maple Finance, Goldfinch, Centrifuge, TrueFi, Clearpool and Credix. Morpho is listed as an emerging player. Broad incumbents are Aave and MakerDAO (Sky). Apxium Technologies is listed as an others.
Does Kasu have an API?
No public API is recorded for Kasu.
What industry is Kasu in?
Kasu's product category is DeFi Lending Protocol. Its primary akta.pro industry code is FSADAMAA, Decentralized Lending & Borrowing Protocols, with a secondary code of FSAPAEAI, Borrowing/Lending Risk & Credit Infrastructure (on-chain credit scoring, risk engines, insurance wrappers). Its NAICS code is 522320 and its SIC code is 6199.