Tare Secures $13.25M in Blockchain Capital Funding to Revamp Private Credit on Avalanche

Tare, a Brooklyn-based fintech startup, has secured $13.25 million in seed funding from Blockchain Capital to develop its blockchain-based private credit platform on Avalanche.

The company aims to simplify the complex workflow of non-bank lenders by collapsing multiple vendors into a single platform that automates cash flows and record-keeping.

Tare creates digital loan representations as ERC-721 tokens, which serve as verifiable records of specific loans with smart contracts that automate interest payments and principal distributions.

The system allows investors to interact with loan portfolios using stablecoins like USDC, while borrowers operate in fiat currency without needing to touch crypto.