# Teller Labs

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/teller-labs

- Industry: Financial Services
- Headquarters: San Francisco, US
- Website: www.teller.finance
- Total disclosed funding: $1M
- Latest round: Seed (Jul 16, 2020)
- Investors on record: 3

## About

Teller Labs, Inc. is a decentralized finance platform that enables users to secure time-based loans using ERC20 tokens or NFTs as collateral, minimizing risks associated with traditional lending practices.Founded in 2020 and headquartered in San Francisco, US, Teller Labs, Inc. offers a platform where users can engage in decentralized lending and borrowing. The company has completed two deals, with the most recent being a venture funding round on February 23, 2022, where it raised USD 6.85 mn led by Blockchain Capital, with participation from Bessemer Venture Partners, Franklin Templeton, Signum Capital, Toyota Ventures, and Upstart Network, Inc. The founder and CEO, Ryan Berkun, has a history of involvement in the tech startup space, although specific details about prior ventures are not provided.Teller’s primary offering is a decentralized finance (DeFi) platform that facilitates time-based loans for durations ranging from 1 to 30 days, utilizing any ERC20 token or NFT as collateral. The platform eliminates the risk of margin calls and price oracle dependency, allowing users to engage in lending and borrowing without the constant oversight typically required in volatile markets. By creating isolated escrow vaults for collateral, Teller ensures that the collateral remains safe as long as the loan is repaid on time. The service targets a diverse clientele, including individual borrowers, liquidity providers, and DeFi users who are looking to manage at-risk positions in fluctuating market conditions. Teller is actively catering to customers in the United States and globally, reaching users engaged in cryptocurrencies and DeFi strategies.Teller generates revenue through transaction fees associated with the lending and borrowing of cryptocurrencies on its platform. The transactions are structured around peer-to-peer lending, where borrowers can accept custom loan terms offered by lenders. Upon accepting a loan, the collateral is secured in an escrow vault while the lending token is transferred to the borrower, enabling immediate access to funds. The platform may charge fees based on the loan duration and terms, although specific pricing plans for individual services are not publicly detailed. By facilitating these transactions, Teller enhances the financial flexibility of its users, particularly in the rapidly evolving DeFi market.In February 2022, Teller Labs, Inc. raised USD 6.85 mn in venture funding to support its growth initiatives. The company plans to utilize this funding to expand its integrations with third parties to launch loan marketplaces. Teller aims to enhance its product offerings and broaden its footprint in the DeFi space by developing new features and services targeting emerging markets and regions. Specific markets for expansion are being evaluated, although details on targeted regions and timelines have not been disclosed.

## Funding rounds

- Seed, Jul 16, 2020, $1M — Maven11 Capital, Framework Ventures, ParaFi Capital

## Investors

- Maven11 Capital (https://capitalatlas.ai/funds/maven11-capital) — Seed
- Framework Ventures (https://capitalatlas.ai/funds/framework-ventures) — Seed
- ParaFi Capital (https://capitalatlas.ai/funds/parafi-capital) — Seed