Teller is a market participant-driven DeFi (“Decentralized Finance”) protocol that enables unsecured digital asset lending and borrowing.
Teller connects to your bank account, DeFi wallet, and Fortune Teller NFT, to offer risk-assessed loans, without the need for collateral.
Teller Finance was founded in 2020 by Ryan Berkun. The company is headquartered in San Francisco, California.
The Teller Protocol accomplishes this through an open order book model that allows participants to share commonly used off-chain data with on-chain loan requests. Marketplaces and lending platforms can integrate the Teller Protocol to fill loan requests, allowing lenders to decide what loans to fill based on the appended borrower data.
The Teller Protocol widens the scope of potential market participants in digital asset lending, fostering acceleration of DeFi adoption, ultimately facilitating development of a new class of cryptocurrency loan products tied to both off-chain and on-chain credit signals.
Teller is backed by Blockchain Capital, Franklin Templeton, Toyota Ventures, Bessemer Venture Partners, Upstart, Framework Ventures, Parafi Capital, Maven11 Capital, and others. The company closed $6.85M in a strategic financing on Feb 23, 2022. This brings Teller's total funding to $7.85M to date.