Fence Secures $20 Million to Enhance Asset-Backed Finance Technology
Fence has raised $20 million to advance its asset-backed finance software, addressing inefficiencies in traditional workflows. The funding aims to facilitate U.S. expansion and enhance product capabilities as demand for automated financial solutions rises.
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Fence has secured $20 million in funding to modernize its software platform for asset-backed finance, which currently relies on outdated methods like spreadsheets and email. The investment round, led by Galaxy Ventures, included participation from existing investors ParaFi Capital and Crane Ventures Partners.
Fence's platform automates processes such as asset verification and cash movement, claiming to reduce borrowers' capital costs by up to 40% and operational overhead by 80%. The company manages $1.5 billion in assets across various financing facilities, with a recent collaboration with BBVA allowing for multiple daily drawdowns.
The new funding will support U.S. expansion, increase engineering resources, and integrate AI-driven automation. As private credit markets grow, the need for real-time transparency and automated controls will likely position firms like Fence as essential players in the financial infrastructure landscape.
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