Tare Secures $13M to Bring Private Credit Transactions on Chain

Tare, a fintech company based in Brooklyn, has raised $13.25 million from Blockchain Capital to simplify private credit transactions on the blockchain.

The funding will be used to build software on the Avalanche blockchain that creates digital records of loans and automates administrative work involved in managing them.

Tare's cofounders, Kevin Miao, Keerthi Moudgal, and Lucas Vogelsang, have experience in credit and blockchain. They plan to use blockchain-based systems to eliminate extra costs associated with middlemen in private credit markets.

Miao argued that using blockchain can automate operational work and eliminate extra costs, benefiting both borrowers and investors.