FinTech news in credit risk category

Spectral, a credit risk assessment infrastructure web3 startup, has raised $23 million in a round led by General Catalyst and Social Capital, the company co-founder and CEO Sishir Varghese exclusively told journalist. The startup built an on-chain equivalent to a traditional FICO score, called the Multi-Asset Credit Risk Oracle (MACRO) Score, which allows users to check their on-chain scores through its platform. DeFi doesn’t have credit risk infrastructure, though, Varghese noted. The long-term vision for Spectral is to make credit scoring a publicly accessible network, Varghese said.