Fintech company Tare completes $13.25 million seed round financing: Blockchain Capital leads the investment

According to Fortune magazine, the fintech company Tare has completed a $13.25 million seed round financing, led by Blockchain Capital, with participation from Janus Henderson, Strobe Ventures, the Venture Dept, Neoclassic Capital, and Avalanche Foundation. Individual investors include Aave CEO Stani Kulechov, Tether co-founder Phil Potter, and Privy CEO Henri Stern. The funds will be used to build and expand loan management software, hire staff, and obtain the necessary licenses for its loan department Tare Credit LLC to operate nationwide.

Tare was co-founded by Kevin Miao, Keerthi Moudgal, and Lucas Vogelsang, and plans to build software on the Avalanche blockchain to create digital records for loans and automate the management of related administrative tasks. Miao stated that the difference between the interest paid by borrowers and the returns received by investors is often absorbed by intermediaries, and the blockchain system can automate operations and eliminate additional costs.