What Untangled.Finance does

Untangled Finance Limited is a London-based fintech founded in 2020 that builds blockchain infrastructure for tokenizing real-world private credit assets and operating cross-chain DeFi yield products. The platform digitizes invoices and SME loans into on-chain structured credit pools under a Luxembourg securitization framework, with the first institutional pool (backed by French working capital from Karmen) launched on Celo in May 2024 with a $6M USDC debt ceiling under a broader €100M senior facility with Fasanara Capital.

The company's product suite spans OctoVault (chain-abstracted, non-custodial vault infrastructure built on Safe multisig and ERC-4626), OctoLend (cross-chain lending markets with a proprietary Collateral Delegation mechanism that enables RWAs, BTC, XLM, and XRP to access DeFi liquidity), OctoPos (a DeFi Positions API and on-chain NAV oracle covering Stellar and EVM ecosystems), and Credio (institutional risk tooling with autonomous monitoring agents and zero-knowledge proof validation). Multi-chain reach spans Stellar (Soroban) and Ethereum, Polygon, Arbitrum, Base, and Celo, with cross-chain messaging via Axelar and NEAR Intents. Institutional validation includes Moody's on-chain credit rating pilot and risk governance integration with Ethena's USDe stablecoin.

Revenue is generated from transaction-based fees across pool structuring, management, and performance fees on tokenized credit pools, vault infrastructure fees from curators, and planned X402-based API subscriptions on OctoPos v1.0. Go-to-market combines direct enterprise sales for institutional RWA pools (KYC/accredited investor gated) with self-serve retail access through stellar.untangled.finance and API/SDK distribution to protocols, wallets (Freighter, Lobstr), and fintech applications. The company has raised $13.5M led by Fasanara Capital and operates with 11-50 employees.

Name

Untangled.Finance

Legal name

Untangled Finance Limited

Website

https://untangled.finance

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Untangled Finance is a London-based fintech that tokenizes private credit assets (invoices, SME loans) into on-chain structured pools and operates cross-chain DeFi vault, lending, and position-data infrastructure across Stellar and major EVM chains for institutional and crypto-native investors.

Ownership category

akta.pro rank

Product category

Decentralized Finance Infrastructure

NAICS

Nondepository Credit Intermediation (5222), Other Activities Related to Credit Intermediation (522390), Other Financial Vehicles (525990)

SIC

Asset-Backed Securities (6189), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Borrowing/Lending Risk & Credit Infrastructure (on-chain credit scoring, risk engines, insurance wrappers) (FSAPAEAI)

akta.pro secondary industries

Decentralized Lending & Borrowing Protocols (FSADAMAA), Institutional DeFi & On-Chain Liquidity Infrastructure (Permissioned DeFi, Lending) (FSAGAMAG), Unsecured / Under-Collateralized Crypto Credit (FSADAFAI), Lending Protocol Infrastructure (Oracles, Rate Models, Vaults) (FSADAFAN)

Keywords

• Tokenized private credit
• DeFi infrastructure
• Cross-chain lending
• RWA tokenization
• DeFi risk monitoring

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Private Credit Pool Fees: Revenue generated from tokenized private credit pools through structuring fees, management fees, and performance fees charged to originators and investors accessing the pools.
2. RWA Pool Origination Fees: Platform fees from onboarding new RWA originators (such as Karmen) to create tokenized credit pools on the platform. Pools established with debt ceilings (e.g., $6M USDC for Karmen pool).
3. Vault Infrastructure Fees: Fee income from OctoVault infrastructure services where curators can set and receive fees for their management services. Non-custodial vault infrastructure for institutional portfolio management.
4. Yield Generation Products: Products like USDyc (DeFi savings vault targeting 8-10% APY on USDC) and USDn (delta-neutral vault) generate yield for users while Untangled earns platform/success fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Untangled Finance provides multi-chain DeFi infrastructure that tokenizes real-world private credit assets (invoices, SME loans) into on-chain structured credit pools and operates cross-chain vault, lending, and risk-monitoring protocols. Its core stack includes OctoVault (chain-abstracted, non-custodial vault infrastructure), OctoLend (cross-chain lending markets with collateral delegation), OctoPos (DeFi Positions API), and Credio (institutional risk oracle with zero-knowledge proof verification).

Product overview

Untangled.Finance is a London-based fintech (founded 2020) providing blockchain-based financial infrastructure for tokenizing real-world private credit assets and cross-chain yield products. The offering is a platform-plus-modules architecture centered on three core products: OctoVault (chain-abstracted vault infrastructure for Stellar and EVMs), OctoLend (cross-chain lending markets with Collateral Delegation), and OctoPos (DeFi Positions API across Stellar and EVM networks). Supporting modules include Credio (institutional risk monitoring and agents), Earn/Borrow (user-facing yield products), and Untangled Pool (RWA tokenization). The infrastructure enables institutional-grade private credit on-chain, bridging traditional finance and DeFi with non-custodial, automated portfolio management across multiple chains.

Differentiator

Problem solved

Functional benefit

Brands

• OctoVault: Chain-abstracted vault infrastructure for Stellar and EVMs. A hub for all vaults where curators can manage risk and liquidity via a single interface. Automated, non-custodial portfolio management infrastructure with on-chain accounting.
• OctoLend
• Credio
• OctoPos
• USDyc
• USDn

Products and services

• OctoVault Chain-abstracted vault infrastructure for Stellar and EVM chains providing automated, non-custodial portfolio management with on-chain NAV accounting, enabling curators to construct and execute cross-chain credit and yield strategies incorporating RWAs and blue-chip crypto natives.
• OctoLend Cross-chain lending markets with a novel Collateral Delegation mechanism that bootstraps RWA liquidity, supporting RWAs, BTC, XLM, and XRP as collateral through isolated lending pools pairing one collateral asset with one loan asset and configurable interest rate models.
• Credio Institutional-grade portfolio risk tooling and agents providing real-time risk monitoring, risk oracles, and reserve validation via zero-knowledge proof, powering Moody's on-chain credit rating pilot and contributing to Ethena Foundation's risk governance for USDe.
• OctoPos DeFi Positions API DeFi Positions API providing protocol-aware position data across Stellar and EVM ecosystems through a unified REST endpoint, delivering lending positions, liquidity pools, vault shares, and leveraged positions with sub-10 second latency for cold addresses and an MCP server for natural language agent queries.
• Institutional Private Credit Pool Tokenized on-chain exposure to private credit portfolios combining crypto-native yield with stable RWA cash flows, with the first pool launched on Celo in May 2024 backing French SME loans from Karmen.
• USDyc DeFi savings vault issued as a liquid staking token targeting 8-10% APY on USDC exposure across Celo, Polygon, and Stellar, with capital deployed to yield opportunities on those blockchains plus Ethereum and Base.
• Earn Yield-earning feature on the Untangled application enabling users to earn stablecoin yields through curated vaults supporting USDC, XLM, and BTC deposits with automated yield accrual and delegation fees for backing RWAs with non-DeFi L1 tokens.
• Borrow Borrowing functionality allowing users to access USDC lending markets using RWAs and cross-chain collaterals (BTC, XLM, XRP) with transparent rates determined by adaptive or fixed interest rate curves and Cypher lending for BTC collateral locked natively on Bitcoin chain.
• On-Chain NAV Oracles Trust-minimized on-chain NAV calculation system on Stellar mainnet that reads position state directly from protocol contracts for verifiable vault share pricing, paired with OctoPos API to deliver two trust models.
• OctoPos DeFi Risk Monitoring Real-time risk monitoring service for Stellar DeFi protocols starting with Blend lending pools, featuring 3-hour routine health reports, immediate alerts for threshold breaches (oracle price spikes above 20%, utilization above 92%, health factor below 1.25), and an oracle manipulation detection chain mirroring the Feb 2026 Blend attack pattern.

Quantifiable outcome

• 8-10% APY targeting on USDC exposure through USDyc vault
• +3 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability5 records

Feature8 records

Partnerships

19 partnerships are on record, tiered core and minor.

• Moody'scoreStrategic or Co-development Partner · 1 March 2025Credio (Untangled's risk oracle subsidiary) powering Moody's on-chain credit rating pilot. Significant institutional validation of Credio's risk assessment capabilities for DeFi and RWA protocols.
• Ethena FoundationcoreStrategic or Co-development Partner · 1 January 2025Credio contributing to Ethena Foundation's risk governance for USDe stablecoin. Risk monitoring and quantitative model integration for institutional stablecoin risk management.
• KarmencoreStrategic or Co-development Partner · 2 May 2024First tokenized private credit pool launched on Celo with $6M USDC debt ceiling backed by French working capital assets. Karmen is a fintech lender specializing in instant loans and working capital for digital SMEs in France. Part of broader €100M senior facility agreement.
• Credit CollectiveminorStrategic or Co-development Partner · 2 May 2024Celo community-led consortium of builders and investors that provided early commitment to Karmen token pool launch. Community ecosystem partner supporting RWA pool adoption.
• Celo FoundationcoreStrategic or Co-development Partner · 2 May 2024Strategic ecosystem partnership with Celo Foundation for RWA DeFi development. Untangled's first institutional private credit pool launched on Celo blockchain. Foundation provides ecosystem support and endorsement through Head of Ecosystem statement.
• Gami CapitalcoreChannel Partner/ Reseller/ DistributorInstitutional vault curator running EVM vaults and evaluating Stellar-native allocations. Uses Untangled Vault infrastructure for cross-chain yield strategies. Representative of enterprise curator segment.
• Stake CapitalcoreChannel Partner/ Reseller/ DistributorInstitutional vault curator managing EVM vaults evaluating Stellar exposure. Uses OctoVault infrastructure and same NAV calculation engine that powers Untangled's institutional-grade portfolio management.
• Thaw DigitalcoreChannel Partner/ Reseller/ DistributorInstitutional vault curator operating on Stellar evaluating RWA-based DeFi allocations. Uses Untangled infrastructure for portfolio risk management and yield curation.
• SentoraminorChannel Partner/ Reseller/ DistributorStellar-native protocol evaluated by enterprise curators for yield strategies. Part of Stellar DeFi ecosystem utilizing Untangled infrastructure for cross-protocol positions.
• UpshiftminorChannel Partner/ Reseller/ DistributorVault infra provider on Stellar being evaluated for allocation alongside Untangled infrastructure. Ecosystem partner for institutional yield management.
• Stellar Development FoundationcoreStrategic or Co-development PartnerCore protocol partnership for Stellar network integration. Untangled builds on Soroban smart contracts for OctoVault and OctoLend. Stellar named by DTCC for tokenization service with digital-cash settlement targeted H1 2027.
• Blend CapitalcoreTechnology or IntegrationPrimary lending protocol integrated with OctoPos for position tracking. OctoPos monitors Blend's lending pools in real-time. Health factor calculations using per-pool reserve factors and collateral/liability multipliers.
• Aquarius DeFicoreTechnology or IntegrationPrimary AMM and liquidity layer on Stellar integrated with OctoPos for LP position tracking. Used as primary price feed in OctoPos unified pricing engine's 6-feed oracle priority chain.
• AxelarcoreTechnology or IntegrationCross-chain communication infrastructure used for OctoVault's cross-chain deposit functionality. Hook contracts enable depositors to deposit from any chain with cross-chain message relay via Axelar General Messaging.
• EthereumcoreTechnology or IntegrationPrimary EVM chain supported for OctoVault cross-chain portfolio management. USDyc vault deployed with yield opportunities on Ethereum.
• PolygoncoreTechnology or IntegrationEVM chain supported for OctoVault infrastructure and USDyc vault deployment. Multi-chain expansion target from Celo RWA marketplace launch.
• ArbitrumcoreTechnology or IntegrationEVM chain supported for OctoVault cross-chain portfolio management. Multi-chain expansion from initial Celo platform launch.
• BasecoreTechnology or IntegrationEVM chain for USDyc vault deployment alongside Ethereum. X402 payment supported on Base for OctoPos API subscriptions where agents pay in USDC without account or key.
• CelocoreTechnology or IntegrationLaunch blockchain for RWA tokenization platform. First tokenized private credit pool and USDyc vault deployed on Celo. USDC and USDT deployed natively on Celo.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Maple Finance: Institutional-grade on-chain credit marketplace connecting lenders with vetted crypto-native borrowers via pooled lending. Directly comparable to Untangled's RWA private credit pool model, with both targeting institutional lenders and structured credit products.
• Centrifuge: Leading RWA tokenization protocol enabling real-world assets (invoices, real estate, royalties) to be tokenized and used as collateral in DeFi. Direct competitor in the RWA tokenization space with similar institutional credit focus.
• Goldfinch: Decentralized credit protocol for lending to real-world borrowers without crypto collateral. Comparable to Untangled's private credit pool model with overlapping focus on emerging market SME lending.
• Clearpool: Institutional liquidity provider offering uncollateralized lending pools for crypto-native firms. Directly comparable to Untangled's institutional private credit pools with similar KYC-gated, accredited-investor-only structures.
• TrueFi: Decentralized credit marketplace offering uncollateralized business loans with on-chain risk assessment. Comparable credit infrastructure with similar institutional borrower focus and risk oracle requirements.
• Securitize: RWA tokenization platform providing issuance, distribution, and management of digital asset securities. Adjacent competitor in RWA tokenization with comparable focus on institutional and compliant offerings.
• Ondo Finance: RWA-focused DeFi protocol offering tokenized US Treasuries and yield products. Comparable institutional positioning with similar focus on bridging TradFi and DeFi through structured products.
• Credix: DeFi credit marketplace specializing in tokenized private credit and RWA lending markets. Direct competitor in institutional credit pool space with overlapping issuer/lender relationships.

Broad incumbents

• MakerDAO: Decentralized lending protocol with significant RWA integration including tokenized treasuries and real estate. Larger incumbent with overlapping RWA-collateralized lending focus that competes for institutional capital.
• Aave: Largest DeFi lending protocol with expanding RWA initiatives (Aave Arc, RWA market). Broad incumbent competing for both lenders and institutional credit market share.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/untangledfi
• GitHubgithub.com/untangledfinance
• LinkedInlinkedin.com/company/untangled-finance

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

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 Untangled.Finance