Product Pitch — The TradFi Private Credit Investor
One-liner
TRD gives you direct, independently verifiable access to performing productive-asset credit in Sub-Saharan Africa — a perfected, in-country claim over the loan receivables, covenants with defined triggers, and continuous, tamper-evident reporting — so you can underwrite the loan book in front of you instead of pricing a whole geography as risk.
One-paragraph
You underwrite emerging-market private credit the traditional way: covenants, security packages, track record, audited evidence. The barrier has never been demand or yield — it is verification. Asset-level performance has been self-reported, low-frequency, and impossible to confirm independently, so capital either stays out or charges a punitive premium for the unknown. TRD closes that gap: independent third-party operating data becomes a continuous, tamper-evident view of the loan book, and the facility is secured by the revolving pool of outstanding receivables, with a security agent holding a registrable, enforceable claim in the jurisdiction where the assets operate.
One-page
Where your claim sits. Your protection is a perfected, in-country, registrable charge over the loan receivables — the revolving pool of outstanding loans that actually produces the return — held and enforced on your behalf by a security agent with real legal standing in the jurisdiction where the assets operate. The financed assets are secondary collateral that perfect the claim; recovery runs through the receivables, not asset seizure.
Covenants with defined triggers. Performance is governed by clear KPIs — coverage ratio, portfolio at risk, and the rest — with thresholds defined up front in a covenant registry and monitored continuously rather than confirmed at the next quarterly report. A breach is something you see early and that someone is legally empowered to act on, not a surprise discovered in recovery.
Verification you do not take on faith. The operating data is aggregated in tamper-evident hardware and the aggregate is published to an attested data layer that cannot be quietly edited; the reporting is independently verifiable rather than produced by the borrower about itself. Independent sources are cross-checked — fleet activity, the lender's loan-management system, the vehicle registry, and the payment rail that carries repayments — so an asset cannot earn on paper while missing in reality, and a loan cannot read as current while the cash never arrives. The chain is plumbing; what matters is that the reporting is tamper-evident and independently verifiable.
On currency. The lender carries the mismatch between hard-currency funding and local-currency collections. TRD makes that exposure visible and trackable rather than hiding it, so you can price it deliberately instead of discounting blindly.
The facility. Capital sits in the Open-Ended Adaptive Debt Facility: an open-ended, performance-linked facility with a rate that moves within agreed bounds. Liquidity is a predictable, scheduled pool backed by a cash buffer — this funds real assets that cannot be liquidated instantly, and the structure is honest about that rather than promising daily redemption.
Honest about residual risk. The cross-check closes existence-and-productivity fraud — a fake or dead portfolio cannot survive it. The remaining receivable- integrity questions (remittance, per-asset binding, valuation, and exclusivity of pledge) are addressed by additional controls layered on top, and the program scales only at the pace the protections can stand behind it. No claim is made beyond what the structure supports.
Why now. Verification at this frequency and independence only recently became buildable. Performing loan books that were previously un-underwritable from the outside can now be assessed on their own evidence — which is the whole point: capital priced on the specific book in front of you, not on the country it sits in.