Credora, a real-time credit analytics for the crypto industry, recently announced that it had raised a $6 million strategic funding round supported by S&P Global and Coinbase Ventures as lead investors.
In a statement from last month, Credora CEO Darshan Vaidya, explained that his company “solves the information asymmetry problem by using private computation techniques on real-time data, ensuring borrowers continuously validate their creditworthiness while maintaining the privacy of their sensitive information.”
Shortcomings in the crypto lending market have helped to fuel the collapse of multiple crypto platforms like 3AC (Three Arrows Capital) and Alameda/FTX. Credora wants to provide a solution to solve this by making it easier to evaluate credit risk.
Credora is looking to top up the funding round and has allocated a small portion to the online investment platform Republic as part of an SPV structure.
Available only to accredited investors, the Reg D 506c is looking to raise $250,000 in a SAFE at a pre-money valuation of $80 million.
Credora claims to be the only credit score platform operating in the DeFi space, having already facilitated over $780 million in loans.
Vaidya says that having S&P Global as an investor really boosts the credibility of the company that can “revolutionize credit underwriting and risk monitoring.”
If you are accredited, you may participate with a $3500 minimum investment.
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