Spring Labs Announces Series A

Spring Labs has raised a $23 million Series A round led by GreatPoint Ventures; existing investors RRE Ventures, Galaxy Digital, Multicoin Capital, the Pritzker Group and CardWorks also participated alongside first-time investor General Motors Ventures; the company is working on building their first products on the Spring Protocol network which helps lenders identify customers and cut down on fraud; big names like General Motors Financial, Avant, OnDeck and SoFi have all joined the Spring Protocol; in all they have more than 20 lenders and are working with a couple of banks who are also interested. Source