Teller, a San Francisco, CA-based DeFi protocol that enables unsecured digital asset lending and borrowing, received a $6.85m strategic funding round.
The round was led by Blockchain Capital with participation from Franklin Templeton, Toyota Ventures, Bessemer Venture Partners, Upstart, Signum Capital, alongside angel investors from Paypal, Fundera, and Bison Trails.
Led by Ryan Berkun, Founder and CEO, Teller is a market participant-driven DeFi (“Decentralized Finance”) protocol that enables unsecured digital asset lending and borrowing. The protocol accomplishes this through an open order book model that allows participants to share commonly used off-chain data with on-chain loan requests. Marketplaces and lending platforms can integrate the Teller Protocol to fill loan requests, allowing lenders to decide what loans to fill based on the appended borrower data. The protocol widens the scope of potential market participants in digital asset lending, fostering acceleration of DeFi adoption, ultimately facilitating development of a new class of cryptocurrency loan products tied to both off-chain and on-chain credit signals.
FinSMEs
23/02/2022