Tenka Closes Pre-Seed Round to Build Onchain Liquidity for Private Credit
Capital raised for secondary market infrastructure
Tenka has closed its pre-seed funding round led by Maven 11, with participation from Gami Capital and several angel investors. The company plans to use the capital to build market infrastructure that connects the creation of asset-backed finance products with a secondary trading market. This approach aims to give investors a way to sell their holdings before a loan matures, without changing the original terms of the loan.
Key points
- The round was led by Maven 11 and included Gami Capital.
- Tenka is developing a permissioned marketplace for asset-backed finance.
- The platform will use onchain settlement and independent valuation.
- Launch is scheduled for later in 2026.
What the company says about the problem
Asset-backed finance funds real-world economic activities, such as consumer loans and business receivables. Tenka notes that private credit suffers from a lack of liquidity. Currently, investors who want to exit before a loan matures often rely on private sales or fund-level withdrawals, which can be restrictive. Recent moves by large private credit managers to limit withdrawals have highlighted this issue. Tenka CEO Emile Dubié stated that the firm is building infrastructure to connect asset-backed finance with more investors and develop a secondary market for better exit options. Alexander Essle, a principal at Maven 11, added that this creates a new form of capital formation onchain for originators and unlocks liquidity for investors.
How the platform operates
Tenka works with Tranched to use onchain securitisation. This technology allows for consistent collateral reporting and independent valuation. A secondary market allows investors to transfer their exposure to another party without requiring the original borrower to repay early. For example, an investor holding a pool of equipment loans can sell their position to another investor who is willing to hold it until the loans are repaid. The goal is to create a credible route to liquidity, but an exit at net asset value is not guaranteed. Liquidity will depend on buyer demand and pricing.
What happens next
Tenka is scheduled to launch its platform later this year. The company aims to link initial underwriting with ongoing price discovery and secondary trading. The platform will serve as a single marketplace for originators, investors, and liquidity providers.
Source
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