Kasu

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.

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

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

• RWA lending protocol
• DeFi lending platform
• Invoice financing
• Tranche-based lending
• Blockchain credit protocol

Headquarters

HQ city

Adelaide

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Operations, Marketing or Sales, Personnel, Infrastructure

Revenue model

1. 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.
2. 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

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core 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

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• Apxium Technologies LtdcoreTechnology or IntegrationKasu'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

Direct 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

• Xx.com/KasuFinance
• LinkedInlinkedin.com/company/kasu-finance

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds2 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kasu