Spectral raises $23 million for Web3 credit crosing model
We’re excited to announce that we’ve closed a $23 million round led by General Catalyst and SocialCapital. Samsung Next, Gradient Ventures, Section 32, Franklin Templeton Investment, Shrug Capital, Circle, Jump Crypto and others participated.
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This will fund our vision of a decentralized platform of #MachineLearning models that can transform credit scoring into an open and publicly accessible network.
So far, financial reputation and credit scoring have been monopolized by opaque and siloed institutions. Authoritarian governments make headlines regularly for imposing new social credit systems restricting economic freedom. With #AI and #blockchain technologies converging to create a distributed credit-scoring platform, we can now build a more equitable and capital-efficient future together.
In other exciting news, this week we also launched the Spectral App V0.3.0 in Open Beta.