XCLAIM is the world’s first and only digital marketplace for trading bankruptcy claims.
When a business files for bankruptcy, its vendors instantly become unsecured creditors and its outstanding payables are transformed into unsecured claims. Claims are not securities under U.S. law but are traded in a $400 billion market – transacted via snail-mail, cold calls, and ink-signed documents. It’s so 1980’s!
Creditors are often unaware of the value of their claims but are motivated to sell to generate cash and avoid dedicating resources to monitor an arcane bankruptcy process for the prospect of an uncertain recovery.
Buyers of unsecured claims are sophisticated investors with expertise in the acquisition of distressed assets.
XCLAIM is creating a liquid and efficient market by introducing greater transparency, faster settlement, and a fairer exchange of risk.
ABOUT XCLAIM
Website
x-claim.com
Location
Los Angeles
Company size
1-10 people
Total raised
$4.8M
Markets
Financial Services
Fin Tech
Financial Exchanges
B2B
SaaS
Enterprise Software
Marketplaces