Onboarding & KYC
KYC, eligibility checks and verification of each invoice or loan against the tape.
Credit & Capital Markets
Servicing and administration for private credit.
Independent portfolio servicing, monitoring and reporting, so capital providers see verified data and controlled cash.
For asset managers, credit originators, bank lenders and fund administrators
Who we are
An independent servicer with a securitisation pedigree
28FiTech AG is a Zug-based joint venture of Pavel Izmaylov and Gerrie Grobbelaar, specialised in trade finance, structured credit and portfolio administration.
We act for investors, lenders and SPVs as an independent servicer and administrator: designing the process, running the portfolio and reporting on it, across funding, credit, legal and operations.
What we deliver
One accountable servicer between assets and capital
Data & reconciliation
Automated data intake, balances and days past due recalculated and reconciled.
Monitoring & alerts
Borrowing base, covenants and concentration limits tested daily, with alerts.
Cash management
Control of collection accounts; payments executed per the priority of payments.
Investor reporting
Compliance certificates, waterfall reports and a live portal for every party.
Backup & continuity
Full data and document backup; coordination of collection or cash agents. Cold or warm backup, with step-in to full servicing.
Who we serve
For the people who fund and run credit portfolios
Asset managers
Portfolio administration and investor reporting without building an in-house back office.
Credit originators
Loan and receivables servicing, with funder-ready data and borrowing base reporting.
Bank lenders
Independent monitoring, covenant checks and verified data on the portfolios you finance.
Fund administrators
Extra capacity and specialist credit servicing for your fund clients.
Need a back office for an operating company?
Back-Office
Case studies
How we work with credit providers
A private credit manager launching a new fund
Challenge
A new asset-based finance strategy ran on spreadsheet portfolio data, while investors wanted more frequent, more detailed reporting.
What we did
- Portfolio administration and loan data validation
- Cash and position reconciliation
- Waterfall calculations and an investor reporting portal
A specialty lender scaling its warehouse facility
Challenge
The borrowing base was prepared by hand each month, funders questioned data quality, and growing the facility stalled.
What we did
- Loan tape verification against documents
- Daily eligibility and borrowing base tests, up from monthly
- Covenant monitoring and funder reporting
A bank gaining independent sight of a receivables portfolio
Challenge
The bank relied on the originator’s self-reported tapes, with little visibility on concentrations, dilution or covenant headroom.
What we did
- Independent verification against underlying documents
- Concentration and covenant tests with alerts
- Collection-account cash reconciliation
A fund administrator adding credit servicing
Challenge
Clients launching credit funds needed loan-level servicing that the administrator didn’t offer in-house.
What we did
- Loan servicing under the administrator’s brand
- Loan data reconciliation and reporting
- Fed directly into the existing NAV process
Coverage
Structures and asset classes we support
Areas marked TRACK RECORD are where the team has a servicing track record.
Structure types
Capital markets TRACK RECORD
Private and public ABSCLOsABCP
Funding facilities
WarehouseSeasoningCredit facilities
Investment & acquisition
Forward flowsAlternative investment fundsWhole-loan sales
Capital relief & risk transfer
SRTsCRTsOther risk-transfer deals
Receivables purchase TRACK RECORD
RPAsRPPsMaster servicing
Asset classes
Consumer TRACK RECORD
Residential mortgagesConsumer and auto loansCardsStudent loans
Corporate TRACK RECORD
Trade receivablesCorporate, SME and leveraged loansLeasingCMBS
Fund finance
Subscription linesNAV facilities
Specialty & alternative
BNPLRevenue-based and e-commerce financeInventory financePublic-sector receivablesLegal claims
Non-performing
NPLsUTPsOpportunistic credit
Operating companies
Offshore subsidiariesE-commerceCrypto and token issuers
Getting started
Onboarding a portfolio in five steps
Due diligence
Programme documents, data sources and collection accounts reviewed.
Documentation
Servicing agreement, reporting templates and service levels agreed.
Configuration
Eligibility, covenants, concentration limits and waterfall set up.
Parallel run
Historical tapes loaded, backtested and reconciled to existing records.
Go-live
Daily servicing, periodic investor reporting and monitoring.
Service levelsDaily borrowing baseBreaches flagged promptlyScheduled investor reportingNamed servicer and backup
Fees
Transparent, portfolio-based pricing
Quoted on your portfolio’s size and complexity.
Loan & receivables servicing
The higher of a monthly minimum or a fee on outstanding principal, billed monthly.
min / month or % p.a.
Fund administration & calculation agent
A fee on AUM per product, with an annual minimum.
% of AUM, annual min.
Backup servicing
Cold or warm backup for a fixed annual fee; step-in activates full servicing.
fixed annual fee
Onboarding & non-routine work
Portfolio onboarding, amendments, waivers and restructurings.
quoted separately
All fees exclude VAT.
Our technology
Built on platforms you already trust
One connected stack for servicing, accounting and reporting, set up and run for you.
Servicing platformCascade
Loan and receivables data platform: validation, reconciliation, borrowing base, covenant monitoring and investor reporting.
AI · AnthropicClaude
Reads documents and speeds up reconciliation and reporting, reviewed by our team.
AccountingXero
Cloud accounting, invoicing and bank reconciliation.
AccountingExact Online
Cloud accounting and ERP across the Benelux and Europe.
WorkplaceMicrosoft 365
Documents, email and collaboration.
HostingHetzner
Hosting for our own bookkeeping platform, in Germany.
WorkplaceGoogle Workspace
For teams who work in Google.
Core team
Servicing and structuring experience
GG
Gerrie Grobbelaar
Finance & Technology, Engagement Partner
- 15+ years in audit, financial accounting and reporting at PwC, Fairphone and TMF Group
- Structured finance, administration and capital markets
- Professional Accountant (SA), Chartered Accountant (Ireland), ACMA, CGMA, Chartered Controller
- Executive Master’s in Finance & Control, Maastricht
PI
Pavel Izmaylov
Legal & Operations, Engagement Partner
- 20+ years in structured finance, capital markets and digital assets
- Head of Capital Markets Services, TMF Group Zurich (2014–2022): ABS, RMBS, CLOs, ABCP; direct debt loan administration
- Former Director, Apex Group Zurich
- Law degree (Hons), LLM Tax Law (Geneva), Swiss Bar
Next steps
Let’s discuss your portfolio.
We’d be glad to walk you through the servicing model and our investor reporting.