Share this article
Spring Labs Raises $15 Million to Build Credit Data Blockchain
Spring Labs, an identity- and credit-focused blockchain startup, has raised $14.75 million in a seed funding round.
By Wolfie Zhao
Updated Sep 13, 2021, 7:44 a.m. Published Mar 27, 2018, 1:00 p.m.
Spring Labs, a blockchain startup that aims to decentralize the data-sharing process in the credit industry, has raised $14. 75 million in a seed funding round.
According to an announcement Tuesday, the Los Angeles and Chicago-based firm said the round was led by August Capital, with other software- and blockchain-focused capital firms also participating.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The investment will be used to continue development of the company's blockchain platform in the coming months, as well as to grow its core development team, the firm said.
Spring Labs was first set up in 2017 by the founding and board members of Avant, a personal loan platform in which August Capital also has a stake.
The firm aims to use its proprietary blockchain called Spring Network to exchange identity- and credit-related information using smart contracts in bid to bring data efficiency and regulatory transparency to the process.
Initially, the startup said it is eyeing a collaboration with Avant to test the firm's existing workflow between its personal loan platform and banking partners over the envisioned blockchain system.
Eric Carlborg, Partner at August Capital, said in the statement:
“We see a huge opportunity here to improve the infrastructure of the global credit ecosystem in a more decentralized and secure way, with the right incentives in place to drive participation and information sharing."
U.S. dollars image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Treads Water Near $90K as Bitfinex Warns of 'Fragile Setup' to Shocks
BTC's relative weakness compared to stocks points to tepid spot demand, making the largest crypto vulnerable to macro volatility, Bitfinex analysts said.
What to know:
- Bitcoin erased very modest overnight gains early Monday and spent the rest of the U.S. session in a tight range around the $90,000 level.
- Rising long bond yields and a small U.S. equities pulling back weighed on risk appetite as traders eye this week's Federal Reserve meeting.
- Bitfinex analysts pointed out bitcoin's relative weakness against U.S. stocks amid modest spot demand and structural softness.
Top Stories
