Last week blockchain startup Spring Labs
announced a $23 million Series A funding round led by GreatPoint Ventures. Other participants included August Capital, General Motors Ventures, RRE Ventures, Galaxy Digital, Multicoin Capital, The Pritzker Group and CardWorks.
A year ago, the company raised a
seed round of $14.75 million. The startup aims to change the way financial information is shared for credit scoring, cutting out the middlemen like Equifax.
The initial solutions are fraud, credit and identity products. Using the Spring Protocol, it’s possible to onboard customers by exchanging ID verification information without revealing personally identifiable information using attestations. Other identity platforms, such as
Sovrin and uPort, also use attestations.
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