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Funding Round Profile

Xclaim

start up
United States - Los Angeles, CA
  • 12/04/2023
  • Series A
  • $7,000,000

At the intersection of crypto and bankruptcy. A claims trading revolution.


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Matt SedighFounder

Matt Sedigh United States - Los Angeles, California

I founded Xclaim to bring transparency and fairness to an inefficient and illiquid asset class: bankruptcy claims. There is approximately $1 trillion of tradable bankruptcy claims and tens of millions of individuals and SMB's globally that want to recover what they're owed. By providing a centralized marketplace to connect the buyers and sellers of these claims we help all market participants sustain a fair and competitive market.
I've spent my entire 20-year career providing legal, debt trading, financial advisory, and crisis management services to companies in distress and the creditors most impacted by those difficult situations. I became a bankruptcy expert and saw first hand how these events can be deeply painful far beyond the company that files bankruptcy. Innocent people and businesses become victims of someone else's bad decision making. That can make distress contagious and have a cascading effect on thousands of others.
Xclaim seeks to break that cycle by providing an easy way for them to cash out, move on with their lives, and focus on what matters, not the bankruptcy of someone else's business.