Tare raises more than $13M to streamline private credit transactions on Avalanche

Brooklyn-based fintech startup Tare has secured $13.25 million in seed funding to develop blockchain-based infrastructure for private credit, with Blockchain Capital leading the round, Fortune reported Wednesday. The round, which closed in March, included Janus Henderson, Strobe Ventures, the Venture Dept, Neoclassic Capital and the Avalanche Foundation. Aave CEO Stani Kulechov, Tether cofounder Phil Potter and Privy CEO Henri Stern were among the individual investors. Tare has not disclosed its valuation. Founded by Kevin Miao, Keerthi Moudgal and Lucas Vogelsang, Tare is focused on the back-office infrastructure supporting private credit rather than directly competing with existing tokenization platforms. The company will use the funding to expand its software, grow its team and secure licenses for Tare Credit LLC to operate as a lending business in the US. The company plans to build its software on Avalanche, creating digital records for loans while automating the administrative processes involved in servicing and managing credit transactions. Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy...