Startup Fence takes aim at back end of $6 trillion credit market
By Krisztian Sandor
Published on April 29, 2026.
Fence, a startup building software to handle the operational layer of structured credit deals, has secured a $20 million funding round led by Mike Novogratz's Galaxy Digital (GLXY). The company aims to revolutionize the $6 trillion asset-backed finance market where many deals still rely on manual workflows. It uses smart contracts to manage cash, collateral, and the rules that govern these deals, reducing costs for big asset managers like BBVA. Fence also tokenizes lender positions in financing vehicles and the underlying loans or invoices. The funding will enable the company to expand in the US and build out its product.
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