Teller Raises $1M in Seed Funding
Teller, a San Francisco, CA-based blockchain project for decentralized lending incubated by A16Z’s crypto startup school, raised $1m in seed funding. Led by Ryan Berkun, founder and CEO, Teller is introducing an undercollateralized DeFi lending protocol that can offer credit risk analysis. It will aggregate data from legacy credit scoring systems, like Equifax, into decentralized lending markets. The protocol aims reduce lending risks for crypto holders and allow anyone to launch decentralized lending markets that can offer unsecured cryptocurrency loans. Teller Protocol – a protocol that will let developers create unsecured lending markets on the Ethereum blockchain that can interoperate with centralized data providers and credit bureaus to calculate consumer credit risk for loans.